Oslo, Norway, 7 August 2017 – IDEX, a leading provider of fingerprint solutions for mass markets, today announced that UniCredit Bulbank of Bulgaria recently completed a trial of Mastercard’s next generation biometric card, using IDEX’s flexible fingerprint sensor. The trial received extremely positive customer feedback, which focused on the convenience, security and ease of use of the card and indicates a high likelihood of upgrading to a smartcard with biometric security.
“We are very pleased with the increasing momentum of the global biometric card programme launched by Mastercard in April 2017. The UniCredit Bulbank pilot in Bulgaria follows two previously successful end-user trials in South Africa with Absa Bank and retailer Pick n Pay. The UniCredit pilot is the first to be completed in Europe, and we expect further trials to be completed in Asia and other regions in the next few months,” stated Dr Hemant Mardia, CEO of IDEX. “Consumers are becoming used to the ease of using fingerprint sensors because of their use in mobile handsets. Additionally, banks, retailers and government institutions are increasingly recognising the benefit of biometrics as the best way of getting secure identification. IDEX has established a leadership position in this biometric card segment, and we are focused on commercializing our products and capitalizing on our early-mover advantage.”
Customers involved in the pilot provided feedback on using the biometric card, and according to UniCredit Bulbank, their experience can be summarized as follows:
- 93% of the participants found the biometric card more convenient to use than entering the PIN during the transaction
- 93% of the participants found the biometric card more secure than regular chip cards
- 90+% of them would upgrade or probably upgrade their favorite card with the biometric feature if available
- 100% of them think that contactless functionality is a must
IDEX’s off-chip technology uses a thin, flexible sensor made from a low-cost polymer. This allows it to be compliant with ISO standards for long-term durability, and makes it uniquely suited for use in smart cards. Developing this flexible technology further, IDEX has recently launched a lower power sensor for use in contactless cards. This uses a sensor with an area which optimizes the biometric performance within the constraints of an ISO form factor card. IDEX is expanding marketing of both of these contact and contactless products responding to clear customer demand for high performance, cost efficient and mass deployable biometric card solutions.
Charlotte Knudsen, Director of IR and Communications, +47 9756 1959, [email protected]
Henrik Knudtzon, CFO, +47 9302 2827, [email protected]
IDEX develops and sells 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.idex.no
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.