Oslo, Norway, 25 February 2020: IDEX Biometrics ASA, a leading provider of
advanced fingerprint identification and authentication solutions, has been
awarded a design win and supply agreement with a leading global tier 1 smartcard
manufacturer. IDEX will supply its TrustedBio(TM) sensor for use in the card
manufacturers next-generation biometric payment cards. TrustedBio(TM) is a new
family of dual-interface products and solutions designed to reduce biometric
smartcard cost while improving performance, security, and manufacturability.
The agreement deepens a long-standing collaboration between this card
manufacturer and IDEX to develop biometric payment cards. The card manufacturer
undertook a rigorous selection process and selected IDEX after a careful
analysis of its technology and cost roadmap. A supplier audit to ascertain
IDEX's technical readiness was also conducted. IDEX's technology was chosen over
its competitors for its performance, low power consumption, advanced security
features, manufacturability, and cost.
The companies' shared vision is to enable mass market adoption and long-term
growth and proliferation of biometric payment cards. We will bring to market a
technology platform that will significantly reduce the complexity and cost of
the design and production processes for biometric payment cards. This enables an
accelerated path to mass adoption benefitting both the issuers and users of
cards.
Sensors incorporating this new technology are expected to be released to mass
production in the fourth quarter of 2020. This next generation is a follow-on to
an existing biometric card program between the card manufacturer and IDEX for
which certification is nearing completion.
Stan Swearingen, CEO of IDEX commented, "We are proud to have been selected by
one of the largest smartcard manufacturers in the world and look forward to
continue collaboration with a leader in authentication solutions to bring
biometric payment cards to the mass market. This award by one of the world's
largest card manufacturers is a validation of our off-chip product design that
enables high performance at a disruptive cost point."
For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com (mailto:marianne.boe@idexbiometrics.com)
Tel: + 47 918 00186
Derek D'Antilio, Chief financial Officer
E-mail: derek.dantilio@idexbiometrics.com
(mailto:derek.dantilio@idexbiometrics.com)
Tel: +1 197 827 31344
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of
fingerprint identification technologies offering simple, secure and personal
authentication for all. We help people make payments, prove their identity,
gain access to information, unlock devices or gain admittance to buildings with
the touch of a finger. We invent, engineer, and commercialize these secure, yet
incredibly user-friendly solutions. Our total addressable market represents a
fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com
(http://www.idexbiometrics.com)
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act