IDEX enters innovation agreement with global payment provider for future biometric card solutions
Oslo, Norway, 23 October 2017 – IDEX, a leading developer of advanced fingerprint solutions for mass markets, has announced that the company has signed an agreement with its major global payment partner to deliver advanced biometric technologies for its payment card products. As part of the agreement, IDEX will be paid against specific roadmap milestones over the next 6 months.
As part of IDEX’s objective to re-inforce its leadership position in the biometric card market, the company continues to aggressively develop new technologies for advanced biometric solutions. IDEX is already offering system solutions beyond physical sensors to include advanced power management, compact matcher algorithms, seamless enrolment and sophisticated security features. Through co-development with the biggest players in the card ecosystem, the company is now able to offer leading-edge biometric solutions to major card integrators world-wide.
“We are really pleased that a key partner has made this strong commitment to our technology vision and product roadmap. This relationship is a real recognition of the deep biometric expertise we have created at IDEX and that we can now deliver this into the market as a sensor solution partner. We fully expect this relationship to kick-start the monetisation of the technologies we have invested in over the last 3 years” says Dr Hemant Mardia, CEO of IDEX.
IDEX uses its patented off-chip technology to develop sensor solutions that deliver exceptional performance for a wide range of card applications. By having a fully flexible large area sensor, a high-performance ASIC, compact recognition algorithm and very low power consumption, IDEX has enabled ISO-compliant contact and contact-less biometric payment cards which work without needing internal batteries. IDEX’s products can be manufactured in volume at low cost as the company’s technology enable the sensor solutions to be fully compatible with the manufacturing processes used by card integrators today.
Charlotte Knudsen, Director of IR and Communications, +47 9756 1959, firstname.lastname@example.org
Henrik Knudtzon, CFO, +47 9302 2827, email@example.com
About IDEX ASA
IDEX is a leading developer of advanced fingerprint sensor technology and products. The company’s technology is used in a range of biometrically enabled applications within three core markets: smart cards, mobile, and Internet of Things (IoT). IDEX’s addressable market represents a fast-growing multi-billion unit opportunity.
IDEX’s technology includes both the conventional silicon sensor and a unique off-chip technology, which means that the company can offer its partners solutions which are flexible and cost efficient.
IDEX ASA (ticker IDEX) is a Norwegian company, founded in 1996 and listed on the Oslo stock exchange in 2010.
For more information, please visit www.idexbiometrics.com