IDEX focuses business on bringing biometric smartcards to mass market
IDEX is on track to deliver volume rollouts for biometric smartcards in 2018 as the market reaches a critical inflection point, according to a company announcement.
The company is re-shaping and focusing its business for volume commercialization in a market Biometric Embedded News estimates will approach 350 million biometric cards in 2020, for a potential value of $4 billion, the company says. Changes have included focusing resources on biometric cards, and bringing systems design and development skills in-house.
“IDEX is now actively involved with many major end customers which we expect to turn into volume shipments this year,” says Dr. Hemant Mardia, CEO of IDEX. “As examples, the real-life customer trials we have done with our partners for ABSA Bank, Pick’n’Pay the major South African retailer, and UniCredit Bulbank in Bulgaria have been exceptionally successful and have led to many more trials underway or committed in the banking and retail markets. We also have multiple additional trial activities in Asia with key card integrators.”
Among recent innovations the company lauds for establishing its position in the market are the in-house matcher for cards, which achieves a single digit FRR with very low power and processing requirements, a demonstrated contactless-ready sensor solution, and a patented self-enrol technique.
As previously reported, IDEX recently hosted an investor presentation on “Capturing the Second Biometric Wave.”