IDEX Biometrics and TrustSEC partner to meet increasing demand for digital authentication with Biometric Smart Cards
Oslo, Norway – 24 October 2022 – IDEX Biometrics ASA and TrustSEC, a leading European provider of digital authentication solutions for access control and crypto wallets are bringing biometric smart card solutions to market in response to the demand for more secure and seamless digital authentication. The partnership agreement combines the TrustSEC smart card module, including card operating system and applets, with the IDEX Biometrics TrustedBio fingerprint sensor solution. The biometric smart card solution will secure access to digital- and crypto currency hashwallets, as well as managing physical and logical access for corporations, schools and governments, and is targeted to reach the market in Q1 2023. With this collaboration, the companies will mutually benefit from IDEX Biometrics industry leading TrustedBio sensor and TrustSEC’s experience in smartcard development and their significant customer base within the cyber security market.
The digital identity verification market is set to rise to $16.7 billion in 20261, providing an important opportunity for secure solutions for crypto hardware wallets, digital identification and card-based access applications.
Magdy Sharawy, CEO of TrustSEC says: ‘TrustSEC’s strategy was to bring to market a complete security solution for identity management, access control, and crypto wallets, with fingerprint authentication. Our collaboration with IDEX Biometrics is bringing to market a highly secure, industry leading authentication solution integrating the new IDEX biometric sensor with TrustSEC’s Smartcard OS “SLCOS” running on Infineon’s latest generation Secure Element chip, the SLC38. We are very confident of the success ahead and excited about this partnership.’
’Combining the high-performance biometric architecture of TrustedBio with the complete security software solution from TrustSEC will provide an agile authentication and information protection framework suitable for a variety of market needs and applications. This collaboration will allow us to meet the increasing global demand for biometric smart cards, continues Vince Graziani, CEO of IDEX Biometrics.’
1 Juniper Research, 2022
For further information, please contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: +47 918 00186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) 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 or unlock devices 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
About TrustSEC
TrustSEC is a leading company in the information security field, founded by internationally recognized information security and cryptography experts. TrustSEC focuses on developing innovative highly secure software solutions that serve the digital transformation of governmental services, and fintech, applying the latest technology trends of authentication. TrustSEC offers a wide pool of secure turn-key hardware and software solutions based on its uniquely, in-house developed operating system for smart cards- SLCOS; namely Biometric smartcard with a variety of in-house developed applets running over it; Biometric FIDO2 applet, Biometric PKI applet, CPA / CPACE Common payment application Contactless Extension and other customized applets.
For more information, visit www.trustsec.net
TRADEMARK STATEMENT
IDEX, IDEX Biometrics, TrustedBio and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.
