The biometric cards will be manufactured by Card Tech’s first-tier production partner.
Card Tech’s patented ISO-compliant system-on-card solution will use IDEX’s flexible best-in-class swipe sensor, based on our patented two part SmartFinger technology which is ideally suited for integration into cards. IDEX’s delivery will include its market-leading algorithms capable of operating in the low-power, highly efficient processors that are required for such embedded applications.
Biometric cards is one out of three strategic mass markets for IDEX. IDEX’s strategy is to leverage its core technology across three mass markets; mobile devices, biometric cards and devices being part of Internet of Things. Card Tech is addressing the market for access control and ID cards, subsequently cards for use in banking and other financial applications.
“Based on multiple international expressions of interest we expect to open a significant market opportunity,” said Fabrizio Borracci, CEO of Card Tech. “Our partnership with IDEX started in 2011 and Card Tech aims to offer supreme biometric performance in ISO-standard cards. Initially we will serve the access control and ID markets, subsequently the banking and financial cards market. We have secured a first-tier manufacturing partner possessing facilities and expertise to ramp up production to large scale.”
“We are very pleased that our partnership with Card Tech is now moving on to the commercialization phase. Our bendable and thin SmartFinger sensor enables Card Tech to deliver a robust product suitable for mass production with its mass production partner,” said Hemant Mardia, CEO of IDEX. He added,“We have recently seen a significant increased interest in card solutions enabled by secure fingerprint biometrics, and Card Tech’s first-tier production partner is joining the project because it sees the magnitude of the potential market.”
About Card Tech
Card Tech srl (card-tech.it) is a privately held Italian company which operates in the sector of the research, development and marketing of mobile devices devoted to security. Card Tech aims to improve the life of people thanks to innovative, secure and user-friendly solutions and products. In the smart cards sector, the company has developed and patented internationally ISO7810 ID-1 and ISO 7816 compliant card fitted with an ultra-thin biometric sensor, battery and chip that allow for a secure match-on-card system.
IDEX ASA (idex.no) specialises in fingerprint imaging and recognition technology. IDEX’s vision is to ensure individuals a safe, secure, and user-friendly use of personal ID. IDEX has developed the award-winning SmartFinger technology platform based on the Company’s core intellectual property, including the patented fingerprint imaging principle, sensing scheme and chip design. Combined with core software solutions for imaging and authentication, the SmartFinger technology enables on-device enrollment, template storage and verification within the very same module. SmartFinger solutions can be seamlessly integrated into a variety of embedded applications such as mobile phones, one-time password devices, Smartcards, payment and ID cards, payment terminals, access control devices and biometric security and login tokens.
IDEX ASA is a Norwegian public company listed at the Oslo Axess marketplace on the Oslo Børs (Oslo stock exchange).
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Press contact: Fabrizio Borracci, CEO
P: +39 0432 629722 - E: f.borracci[.]card-tech.it.