Oslo, Norway – September 07, 2022 – IDEX Biometrics ASA is entering into an agreement with one of Europe’s largest semiconductor companies to enable a complete high performance biometric smart card solution leveraging the strengths of both companies.
The joint solution combines IDEX’s TrustedBio sensor solution and full stack of integrated biometric software with the new partner’s industry-leading secure element, card operating system and payment applets, all of which will be fully certified for use. across all global payment networks. This highly advanced solution eliminates the need for a separate microcontroller ASIC and discrete power management circuitry required by solutions currently on the market, reducing cost and manufacturing complexity.
The agreement also includes a framework for a joint development plan and a commercial commitment. Engineering samples for card manufacturers will be available in the first quarter of 2023, and biometric smart cards developed under the agreement will be delivered to issuers later in the year.
Vince Graziani, CEO of IDEX Biometrics, said: “This is an important milestone for IDEX as we are now able to offer joint solutions with two of the largest semiconductor providers for the payment card industry. We will provide card manufacturers, issuers and banks with a low-cost, high-performance, fully certified biometric card solution, further strengthening the ecosystem to meet the growing demand for seamless and secure payment experiences.”
For more information contact:
Marianne Bøe, Director of Investor Relations
Email: [email protected]
Telephone: + 47 918 00186
Brett L Perry, US Investor Relations
Email: [email protected]
Telephone: + 1 214 272 0070
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a leading provider of fingerprint identification technologies that offer simple, secure and personal authentication for everyone. We help people make payments, prove their identity, access information, or unlock devices with the touch of a finger. We invent, design, and market these secure yet incredibly easy-to-use solutions. Our total addressable market represents a rapidly growing multi-billion unit opportunity.
For more information, visit www.idexbiometrics.com
IDEX, TrustedBio, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brand or product names are the property of their respective owners.