Oslo, Norway, 24 October 2017 – IDEX, a leading developer of advanced fingerprint solutions for mass market applications, is pleased to issue this invitation to a Capital Markets Day in London on 2 November from 10am GMT. The event will be held at The Clubhouse Bank at 1 Angel Court, in the City of London. The IDEX executive team will present a detailed update on strategy and progress, with a focus on the biometric card market.
The market for biometric cards is now on the cusp of commercialization. On the back of widespread adoption of biometric solutions in mobile devices there is significant demand from customers including; banks, retailers and government institutions for biometric card payment solutions.
IDEX is confident that it is in pole position, and far ahead of the competition, in the market for biometric cards by virtue of its deep partnership with one of the leading providers of card payment systems based on IDEX’s first of a kind biometric payment card technology. The previously announced partnership on the next-generation biometric card with global payment provider, Mastercard, has advanced in line with plan. It has undergone several successful real-world customer trials with large multi-nationals including;
ABSA Bank, Unicredit Bank and retailer Pick-n-Pay and is progressing into the certification phase prior to commercial rollout.
This initiative is attracting new entrants from across the value chain to participate in what is increasingly expected to be a huge global market, thereby validating the momentum in the biometric card payment market. IDEX’s sensor solution is the central component of the complete system required for a biometric card, and IDEX is one of only a few vendors capable of providing fingerprint sensors that meets the performance, cost and volume requirements for mass deployment. IDEX is receiving strong interest from the wider industry and expects to be a supplier to many of these new entrants, who together with IDEX, will assist card manufacturers in developing their own range of card solutions as the biometric card
payment systems become ubiquitous in the market.
The key elements in moving from prototypes to mass commercialization are:
- Low cost for biometric solution,
- Compliance with exacting performance standards,
- Scalable channel to market and deployment path.
IDEX’s pre-eminent position in providing convenient and secure biometric solutions for cards is supported by the following:
1. Fundamental off-chip advantage for card sensors with low cost and bendability in card form factors as the sensor is made from standard polymer material
- IDEX solution requires no battery or special components for contact or contactless cards
- For a 9x9mm image sensor IDEX’s solution occupies 1/8th of the silicon area compared with on-chip silicon sensors and does not require the added process steps for thinning the die or protective packaging, resulting in significant cost savings compared with alternative technologies
- IDEX solution has benefited from real-life tests and bank trials (e.g. user misplacing finger, rotation, partial touches, limited attempts)
- IDEX can further shrink the die and reduce solution cost without compromising biometric performance.
- IDEX can increase the size of the sensor image enabling exceptional user performance and simple enrolment with a range of existing matcher solutions.
2. IDEX has been working closely with the global payment provider and with a leading card integrator, which delivers over 1 billion cards per annum, for more than two years creating a technologically superior, robust and proven biometric solution suitable for standard manufacturing processes and ready for EMV certification.
- Formal certification is critical to go to market. IDEX is ahead of the competition and expected to certify shortly.
- Other available solutions depend on a complex inlay, which is comparatively expensive and not scalable, in production giving a price of over USD 30 per card, whereas IDEX polymer sensor enables a card solution of one third of that price, reducing significantly in high volume production.
3. IDEX is the preferred sensor partner to the leading innovator in global payment who has strong end customer relationships and is the de-facto market leader in the biometric card market.
- The payment provider drives customer engagement and relationships. The banks and other issuers procure the payment products from the payment provider, and card integrators subsequently deliver an end-to-end solution integrating IDEX’s biometric card.
- IDEX has invested beyond the sensor to offer critical integrated biometric card solutions. This is demonstrated by the innovation agreement by which IDEX will deliver a patented solution to low-cost on-card remote enrolment in the home and a breakthrough compact matcher for commercial deployment in 2018. This provides our customers with a fully integrated, highly secure, convenient and low cost biometric solution that is unique to IDEX.
IDEX is looking forward to providing further details on the Capital Markets Day.
IDEX is a leading developer of advanced fingerprint sensor technology and products. IDEX technology is used in a range of biometrically enabled applications within three core markets: smartcards, mobile, and Internet of Things (IoT). IDEX’s addressable market represents a fast-growing multi-billion unit opportunity.
IDEX technology includes both a conventional silicon sensor and a unique off-chip technology, which means that IDEX can offer its partners solutions which are flexible and cost efficient.
IDEX ASA (ticker IDEX) is a Norwegian company listed on the Oslo Stock Exchange. For more information, please visit www.IDEX.no
Source: Oslo Stock Exchange