Oslo, Norway, 24 October 2017 - IDEX, a leading developer of
advanced fingerprint solutions for mass market applications, is
pleased to issue this invitation to a Capital Markets Day in London
on 2 November from 10am GMT. The event will be held at The
Clubhouse Bank at 1 Angel Court, in the City of London. The IDEX
executive team will present a detailed update on strategy and
progress, with a focus on the biometric card market.
Please find a detailed invitation enclosed.
The market for biometric cards is now on the cusp of
commercialization. On the back of widespread adoption of biometric
solutions in mobile devices there is significant demand from
customers including; banks, retailers and government institutions
for biometric card payment solutions.
IDEX is confident that it is in pole position, and far ahead of the
competition, in the market for biometric cards by virtue of its
deep partnership with one of the leading providers of card payment
systems based on IDEX's first of a kind biometric payment card
technology. The previously announced partnership on the next-
generation biometric card with global payment provider, Mastercard,
has advanced in line with plan. It has undergone several successful
real-world customer trials with large multi-nationals including;
ABSA Bank, Unicredit Bank and retailer Pick-n-Pay and is
progressing into the certification phase prior to commercial
rollout.
This initiative is attracting new entrants from across the value
chain to participate in what is increasingly expected to be a huge
global market, thereby validating the momentum in the biometric
card payment market. IDEX's sensor solution is the central
component of the complete system required for a biometric card, and
IDEX is one of only a few vendors capable of providing fingerprint
sensors that meets the performance, cost and volume requirements
for mass deployment. IDEX is receiving strong interest from the
wider industry and expects to be a supplier to many of these new
entrants, who together with IDEX, will assist card manufacturers in
developing their own range of card solutions as the biometric card
payment systems become ubiquitous in the market.
The key elements in moving from prototypes to mass
commercialization are:
1. Low cost for biometric solution,
2. Compliance with exacting performance standards,
3. Scalable channel to market and deployment path.
IDEX's pre-eminent position in providing convenient and secure
biometric solutions for cards is supported by the following:
1. Fundamental off-chip advantage for card sensors with low cost
and bendability in card form factors as the sensor is made from
standard polymer material
- IDEX solution requires no battery or special components for
contact or contactless cards
- For a 9x9mm image sensor IDEX's solution occupies 1/8th of the
silicon area compared with on-chip silicon sensors and does not
require the added process steps for thinning the die or protective
packaging, resulting in significant cost savings compared with
alternative technologies
- IDEX solution has benefited from real-life tests and bank
trials (e.g. user misplacing finger, rotation, partial touches,
limited attempts)
- IDEX can further shrink the die and reduce solution cost
without compromising biometric performance.
- IDEX can increase the size of the sensor image enabling
exceptional user performance and simple enrolment with a range of
existing matcher solutions.
2. IDEX has been working closely with the global payment
provider and with a leading card integrator, which delivers over 1
billion cards per annum, for more than two years creating a
technologically superior, robust and proven biometric solution
suitable for standard manufacturing processes and ready for EMV
certification.
- Formal certification is critical to go to market. IDEX is ahead
of the competition and expected to certify shortly.
- Other available solutions depend on a complex inlay, which is
comparatively expensive and not scalable, in production giving a
price of over USD 30 per card, whereas IDEX polymer sensor enables
a card solution of one third of that price, reducing significantly
in high volume production.
3. IDEX is the preferred sensor partner to the leading innovator
in global payment who has strong end customer relationships and is
the de-facto market leader in the biometric card market.
- The payment provider drives customer engagement and
relationships. The banks and other issuers procure the payment
products from the payment provider, and card integrators
subsequently deliver an end-to-end solution integrating IDEX's
biometric card.
- IDEX has invested beyond the sensor to offer critical
integrated biometric card solutions. This is demonstrated by the
innovation agreement by which IDEX will deliver a patented solution
to low-cost on-card remote enrolment in the home and a breakthrough
compact matcher for commercial deployment in 2018. This provides
our customers with a fully integrated, highly secure, convenient
and low cost biometric solution that is unique to IDEX.
IDEX is looking forward to providing further details on the Capital
Markets Day.
Contact:
Charlotte Knudsen, Director of IR and Communications, +47 9756
1959, ck@IDEX.no
Henrik Knudtzon, CFO, +47 9302 2827, hk@IDEX.no
About IDEX
IDEX is a leading developer of advanced fingerprint sensor
technology and products. IDEX technology is used in a range of
biometrically enabled applications within three core markets:
smartcards, mobile, and Internet of Things (IoT). IDEX's
addressable market represents a fast-growing multi-billion unit
opportunity.
IDEX technology includes both a conventional silicon sensor and a
unique off-chip technology, which means that IDEX can offer its
partners solutions which are flexible and cost efficient.
IDEX ASA (ticker IDEX) is a Norwegian company listed on the Oslo
Stock Exchange. For more information, please visit www.IDEX.no