Fingerprint Cards adopts biometric platform strategy, overhauls corporate structure
Fingerprint Cards has revamped its organizational structure to align its governance model with a new strategy to provide a biometrics platform.
The company says its new structure will foster accountability and collaboration across its ranks, and is intended to help attract star performers. Fingerprint Cards’ leaders have been empowered, according to the announcement, as the company tries to build a culture driven by performance.
The executive team is led by President and CEO Adam Philpott, who took on his role September 1, taking over from acting CEO Ted Hansson, who takes leadership of product. Hansson explained the company’s strategy for reaching new growth markets for its biometric sensors by offering support, algorithms and modules in an interview with Biometric Update earlier this year.
Finance will be led by Per Sundqvist, who was appointed CFO back in 2018. Caroline Krüger is chief human resources officer, promoted from interim human resources manager at Fingerprint Cards after seven months in the role, and the company’s legal team will continue to be led by Rebecca Stein.
“Our new organization will significantly reduce organizational and operational complexity, with a streamlined and engaging model that injects more speed and efficiency into our company,” comments Philpott. “We must deploy our talent efficiently, aligning our people with strategic projects quickly as market opportunities evolve. To achieve this goal and create an empowered, efficient organization, we are now transitioning to a functional organizational model, enhancing accountability and enabling agility. The two primary pillars are Product and Sales, with support from Finance, HR and other operational functions. Both the new organization and our new strategy will be underpinned by enhanced governance, accelerating throughput and conversion from innovation through to sales.”
Leaders for strategy and technology and for sales and marketing are to be determined.
The functional organization model involves dividing the business into specific functions, each under the charge of a specialist. It represents an apparent departure from the company’s recent history.
Fingerprint Cards revamped its corporate structure in 2021, dividing its mobile biometrics unit, headquartered in Shanghai, from its payments and access control unit, headquartered in Switzerland. Then-CEO Christian Fredrikson told Biometric Update that the company had strong prospects in the markets for PC biometrics, payment cards and various access control devices.
Since then, the company has surpassed a million sensors sold for biometric payment cards, achieved the first implementation of its under-display smartphone biometrics, followed by its first sale of a million under-display sensors, and struck an exclusive deal with U.S.-based BenjiLock. It has also reported mixed financial results and reorganized into four business units focused on new partnerships, corporate acquisitions, intellectual property monetization and automotive development.