Oslo, Norway – September 7, 2022 – IDEX Biometrics ASA is entering into an agreement with one of Europe’s largest semiconductor companies to leverage the strengths of both companies to provide a complete solution for high-performance biometric smart cards.
The joint solution combines IDEX TrustedBio sensor solutions and a complete biometric software stack with the new partners’ industry-leading secure elements, card operating systems and payment applets, and will be fully certified for use on all global payment networks use. This highly advanced solution reduces cost and manufacturing complexity by eliminating the need for separate microcontroller ASICs and discrete power management circuits required by current market solutions.
The agreement also includes a joint development program and a framework for commercial engagement. Engineering samples from card manufacturers will be available in the first quarter of 2023, and biometric smart cards developed under the agreement are scheduled to be delivered to issuers later this year.
Vince Graziani, CEO of IDEX Biometrics, said: “This is an important milestone for IDEX as we can now offer a joint solution with two of the largest semiconductor suppliers in the payment card industry. We will provide card manufacturers, issuers and banks with A high-performance, low-cost, fully authenticated biometric card solution that further strengthens the ecosystem to meet the growing demand for a secure and seamless payment experience.
For more information please contact:
Marianne Bøe, Head of Investor Relations
Email: marianne.boe@idexbiometrics.com
Tel: +47 918 00186
Brett L Perry, U.S. Investor Relations
Email: bperry@sheltongroup.com
Tel: +1 214 272 0070
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and NASDAQ: IDBA) is a leading provider of fingerprint recognition technology that provides simple, secure and personal authentication for everyone. We help people pay, identify, get information or unlock their devices with the touch of a finger. We invent, design and commercialize these safe yet user-friendly solutions. Our total addressable market represents a rapidly growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com
Trademark Statement
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.
