Oslo, Norway – January 28, 2022 – IDEX Biometrics ASA enters into a development agreement with MKSmart, a global high-tech provider of smart card solutions for financial payments, access control and government identification in Southeast Asia. This partnership will allow banks and other payment card issuers to access biometric smart cards with cutting-edge performance and a cost-effective solution.
MKSmart is ranked among the top 10 card manufacturers in the world and one of six card manufacturers in the world fully certified by VISA, Mastercard, China UnionPay, JCB, UPI and GSMA. Based on the turnkey board reference design from IDEX Biometrics and Infineon Technologies AG, this complete solution includes the IDEX Biometrics TrustedBio® sensor module, which includes a proprietary ASIC providing biometric processing and management of the power supply, and the SLC38 safety controller from Infineon Technologies AG.
Biometric smart cards developed under the agreement are expected to be delivered to issuers by the end of 2022. The agreement further covers a collaborative framework for the development of biometrically authenticated solutions for storing cryptocurrencies. from the central bank or other third parties, as well as the development of biometric authentication solutions for digital ID cards in government, IoT and enterprise applications.
Vince Graziani, Managing Director of IDEX Biometrics, said, “The Southeast Asian region represents a huge opportunity for biometric payment cards. Since its introduction, the TrustedBio turnkey solution has aroused great interest. This additional design win adds to a growing list of customers and confirms that IDEX Biometrics is accelerating the global deployment of biometric smart cards. Our collaboration with MKSmart will provide biometric smart card solutions that enable a secure and seamless user experience to millions of consumers in Southeast Asia and around the world.
For more information, contact:
Marianne Bøe, Head of Investor Relations
Tel: + 47 918 00186
Brett L Perry, US Investor Relations
Tel: + 1 214 272 0070
About IDEX Biometrics
IDEX Biometrics ASA (OSE:IDEX and Nasdaq:IDBA) is a leading provider of fingerprint identification technology providing simple, secure and personal authentication for everyone. We help people make payments, prove their identity, access information, or unlock devices with the tap of a finger. We invent, design and market these secure, yet incredibly user-friendly solutions. Our total addressable market represents a rapidly growing multi-billion unit opportunity.
For more information visit www.idexbiometrics.com
MKSmart, incorporated in 2003 as a subsidiary of MK Group, is the leading company in Southeast Asia with years of experience in providing digital security solutions and smart card products for the following industries: government , banking and financial technology, transport, telecommunications, IoT, enterprises and the consumer market.
For more information visit www.mksmart.com.vn
IDEX, TrustedBio, IDEX Biometrics and the IDEX logo are registered trademarks owned by IDEX Biometrics ASA. All other brand or product names are the property of their respective owners.