Neil Howe:
Yeah, well that had the desired effect, then. So the facial recognition is one of the things that Smart Eye does. What other metrics does it use to shut off?
Dexter Caffey:
Okay, that’s a great question. Initially, whenever you look at a document and someone else comes behind you, it’ll shut off. But when you’re sending someone a doc and let’s say I want to send you a document, I could require your face, your fingerprint, your voice, your iris, as well as what we call behavioral print to be recognized first, before my document opens up to you to ensure that this is Neil who’s opening up my document.
Neil Howe:
So you’ve got the fingerprint and you’ve got the facial recognition. Now, the one that intrigued me was the iris, you’re looking into the eye.
Dexter Caffey:
Absolutely. And we’ll have the iris later on this year. That’ll be available for everyone to actually use. So it’s the iris because the iris actually has six times more identifiable characteristics than your fingerprints do.
Neil Howe:
We see this in all these futuristic films and everything is done with the eyes. It’s great that we are going to be able to have that kind of technology in a device. Now speaking of devices, what kind of devices is it going to be able to be used on?
Dexter Caffey:
That’s a great question. It’s going to be able to be used on mobile, so any cell phone, any laptop that you have as well as any tablet or a desktop computer as well. So it would be on every device.
Neil Howe:
Excellent. So it’s an app, right?
Dexter Caffey:
Absolutely, it’s an app.
Neil Howe:
So it’s available on Apple and Android?
Dexter Caffey:
It will be shortly, we’re still in our prototype phase, but over the next several months it will be available on those platforms.
Neil Howe:
Okay, so we talked about the biometrics, now we’ve got the facial recognition is one, the fingerprinting, the voice, and then the iris as well. So that’s a lot of security.
Dexter Caffey:
And we have one more called Behavioral Print. Behavioral Print is where we require you to print, let’s say four letters. Let’s say the letter W, the letter S, the letter T and the letter Z, as an example. And so, Smart Eye knows how you physically hold your phone, it knows how you touch your screen and it knows how you physically move your hand gestures to verify if this is you, if this is Neil or not. So based on that, it will allow you to access that document or not in that print behavioral biometric that we have.
Neil Howe:
Well, all that seems pretty secure to me. What other companies out there doing anything like this?
Dexter Caffey:
Well, on this scale, there’s not too many at all on this scale. There are a couple of companies that may allow you to access a document by using a biometric, but it’s so small, that’s not their main business. And we’re literally creating… We’ve created a new sector and technology, which we call technology for your eyes only because Smart Eye is technology for your eyes only. Nobody can see, other than just you.
Neil Howe:
Well, that is really impressive, but talk to me about some of the stats maybe around businesses and just how much fraud there actually is and why this is such an important piece of technology.
Dexter Caffey:
I’m glad that you mentioned that Neil, because in 2015, when it came to wire fraud, meaning, let’s say you want to buy a home and you put a down payment on your home. What’s happening, hackers are actually getting inside of those emails and they’re pretending to be having the wiring instructions. And so if you want to wire that $50000 or that $100000 to that institution, it goes to the pocket of the hacker because they intercepted that email. And in 2015 we had about $122 million of that lost, in 2015. In 2019, we had close to $2 billion of that being lost to those hackers accessing and receiving that wire instead of the institution receiving that wire.
Neil Howe:
I imagine the banks would be pretty interested in this because the banks insure some of these things. So they’ve got to be looking pretty deeply into this kind of technology as well.
Dexter Caffey:
Absolutely. And we’re talking to several banks right now as we speak.
Neil Howe:
Well Smart Eye is founded by yourself, but you do a lot of the technical stuff in Israel. I hear that you’re over in Israel a lot. What makes you continue to go over there?
Dexter Caffey:
Well, our developers are in Israel. That’s where we sit down on a monthly basis now. And we tend to go over our strategy as far as our technology. We’re implementing new technology inside of Smart Eye all the time to be more in front of the curve as far as what’s going on out there. So, technology in Israel is very heavy. So we rely on the talent that’s over there in Israel to help us to make our software what it is today.
Neil Howe:
Right. Well, I know you’re still in the beta stage with a lot of technologies that you have, but what ideas or what do you see in the future for Smart Eye?
Dexter Caffey:
Well, I think one of the biggest things that a lot of companies will use Smart Eye for is actually sending, requiring their suppliers and vendors to send their invoices through Smart Eye, instead of email. Because right now there’s a lot of institutions that still receive their invoices directly through email.
