IDEX Biometrics expands in Southeast Asia with MCS

Oslo, Norway – 15 May 2023 – IDEX Biometrics and MCS Microsystems (MCS) are partnering to develop next generation multi-application biometric smart cards. MCS is a leading Malaysia-based, technology-focused smart card solution provider enabling more than 30 national identification projects and 50 million users globally, mainly for government ID and healthcare. MCS biometric smart cards for identity access will leverage IDEX Biometrics cutting-edge fingerprint technology. The partnership marks IDEX Biometrics continued expansion in Asia Pacific, representing a significant and growing market opportunity.

MCS’s multi-application smart cards are based on IDEX Biometrics latest sensor solution, ensuring fast, accurate, and seamless authentication. IDEX Biometrics solutions continue to expand into non-payment segments, with high-assurance performance and biometric matching increasing performance and security for trusted ID solutions. MCS intends to offer this new battery less solution to its customers and partners across Southeast Asia, North America and Europe in the fourth quarter of 2023.

"Our partnership with MCS will help drive our advanced biometric card solutions into new segments and industries," stated Catharina Eklof, CCO of IDEX Biometrics. "The identity access management market is estimated to reach $53 billion by 2026, and our joint solution with MCS positions us well in this emerging market."

"MCS is leading the technology development for e-passports and multi-application ID cards, and our partnership with IDEX Biometrics ensures continued acceleration with industry-leading technologies," said Chas Yap, Managing Director of MCS. "This new biometric multi-application card solution is cost-efficient, long-lasting, has superior biometric performance, and addresses key business challenges for our customers.”

Source: Juniper Research, 2022

For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186

About IDEX Biometrics

IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

For more information, visit www.idexbiometrics.com

About MCS Microsystems Sdn Bhd

MCS Microsystems provides secured smartcard and related technologies, enabling more than 30 national identification projects and 50 million users since 1999. Our portfolio includes a fourth-generation multi-application chip operating system (COS) for Trusted ID applications, biometric ID cards, emerging multi-modal biometric solutions from technology partners, and eco-friendly materials and efficient methods for ID document manufacturing. MCS’s latest development is an information switch platform that uses QR code as digital verifiable credential to control data sharing between service providers. The system leverages on proven smartcard security practices, PKI and web security standards, and, if needed, a private blockchain.

For more information, visit www.mcs-group.com.my

TRADEMARK STATEMENT

IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.