NEXT Biometrics extends its market and product development collaboration with MK Group
NEXT Biometrics and MK Group are expanding its collaborative efforts to now include market and product development of identity and access management applications as well as PKI-based secure authentication solutions.
According to the announcement, close collaboration between the firms` technical and sales teams on a joint R&D program for biometric cards revealed additional market opportunities in Vietnam, South Africa and Brazil.
“We are very pleased to expand our collaboration with MK Group and to conjointly leverage the advantages of NEXT`s large-area fingerprint sensor technology in an even broader range of secure authentication solutions and on a wider geographic space,” said Alain Faburel, NEXT Biometrics Chief Sales and Marketing Officer.
“The positive market and customer feedback that we have seen over the past months was a strong encouragement for us to expand our collaboration with NEXT Biometrics,” said Nguyen Trong Khang, Chairman and CEO of MK Group. “Interest for biometric payment and secure authentication solutions is growing steadily and we look forward to seizing this opportunity together with our strategic partner NEXT Biometrics.”
The companies will continue to collaborate on the development and deployment of biometric payment cards.
NEXT Biometrics revenue grew by 10 percent in 2018, and its gross margin swung from -6 percent in 2017 to 28 percent in 2018.