IDEX Biometrics ASA is entering a development agreement with MKSmart, world-leading high technology provider of smart card solutions for financial payments, access control, and government identification in Southeast Asia. This partnership will provide banks and other payment card issuers access to biometric smart cards with industry leading performance and cost efficient solution.
The Southeast Asia region represents a very large opportunity for biometric payment cards. Since it was introduced, there has been strong interest in the TrustedBio turnkey solution.Vince Graziani, CEO, IDEX Biometrics
MKSmart is ranked among the Top 10 largest card manufacturers globally, and one of six card manufacturers worldwide being fully certified by VISA, Mastercard, China UnionPay, JCB, UPI, and GSMA. Based on the turnkey card reference design from IDEX Biometrics and Infineon Technologies AG, this comprehensive solution includes the IDEX Biometrics TrustedBioÒ sensor module, which includes a proprietary ASIC delivering biometric processing and power management, and the SLC38 security controller from Infineon Technologies AG.
Biometric smart cards developed under the agreement are targeted for delivery to issuers by the end of 2022. The agreement further covers a framework for collaboration for the development of biometrically authenticated solutions for storage of central bank digital or other, third party, crypto currencies, as well as the development of biometric authentication solutions for digital ID cards across government, IoT, and enterprise applications.
Vince Graziani, Chief Executive Officer of IDEX Biometrics, stated, “The Southeast Asia region represents a very large opportunity for biometric payment cards. Since it was introduced, there has been strong interest in the TrustedBio turnkey solution. This additional design win adds to a growing list of customers and confirms that IDEX Biometrics is enabling the acceleration of global deployment for biometric smart cards. Our collaboration with MKSmart will deliver biometric smart card solutions that enable a secure and seamless user experience to millions of consumers in Southeast Asia and globally.”