IDEX Biometrics first shipment of TrustedBio: Raises the bar further for Cost, Performance and Security
Oslo, Norway, 11 August 2020: IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions, has started shipping TrustedBio™. TrustedBio is the new family of dual interface products and solutions designed to dramatically reduce biometric smart card cost while improving performance, security, and manufacturability. The timing is consistent with IDEX’s TrustedBio announcement in February 2020.
As expected, following testing and integration of this new family of sensor solutions, IDEX is on track to roll-out multiple biometric smart card solutions for the mass market beginning this Fall with the previously announced global tier 1 smart card manufacturer as well as several other global partners in both Europe and Asia.
IDEX’s product suite works seamlessly with both current and next generation EMV® chips to provide unrivalled flexibility. This means IDEX TrustedBio customers will be able to design differentiated products unique to their target customers and business strategies. The first member of the TrustedBio family, featuring this biometric-system-on-chip technology, will be released in support of customer pilots early in the fourth quarter of 2020 followed soon after by mass production. Pilots with TrustedBio will come in addition to several previous successful pilots that are expected to become large-scale commercial deployments over the next year.
The new family of sensors is an integrated solution, reducing the number of discrete components. This significantly lowers the cost of materials required to build a biometric smart card, while providing major enhancements to both performance and security. The sensor module employs state-of-the art process and packaging technology. The technology yields usability metrics such as latency, power consumption and a level of security ahead of any solution currently on the market and well-within the requirements of all major payment card networks.
“The successful introduction of TrustedBio signifies that IDEX has delivered on a previously announced major milestone. With this expansion of our portfolio, we are enabling a price point for potential demand in the hundreds of millions of cards from issuers and manufacturers. The improvement in card cost structure is disruptive and will propel the adoption of biometric cards by bringing the cost closer in line with the cost of standard dual interface cards,” comments Vince Graziani, Chief Executive Officer, IDEX Biometrics ASA.
For further information contact:
Marianne Bøe, Investor Relations
Tel: + 47 918 00186
Derek D’Antilio, Chief Financial Officer
Tel: +1 197 827 31344
About IDEX Biometrics ASA:
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of fingerprint identification technologies offering simple, secure and personal touch-free authentication for all. We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings. We invent, engineer, and commercialize these secure and safe yet incredibly user-friendly solutions. Our total addressable market represents a fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com and follow @IDEXBiometrics
The wordmark “IDEX”, and the IDEX logo are registered trademarks of IDEX ASA. EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC. All other brands or product names are the property of their respective holders.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act