IDEX is going to focus exclusively on biometric smart cards from now on, the company has announced.
In a statement, the company explained that its renewed focus is a reflection of the growing excitement around the emerging biometric payment cards market. Major financial services brands including Visa and Mastercard have indicated that they are moving forward with ambitious programs aimed at introducing such solutions to the mass market this year, with the latter having already conducted successful field trials with fingerprint sensor technology provided by IDEX.
Accordingly, IDEX is now pivoting to “a complete focus of resources onto biometric cards”, according to a statement from the company, suggesting that IDEX will turn away from efforts to integrate its sensors into mobile devices and other consumer electronics. IDEX says the other key component of its reorientation invokes “an increased emphasis on bringing systems design and development skills in-house,” which, together with its focus on biometric smart cards, will help reduce “the quarterly run rate spend through 2018 below USD 6.5 million.”
The changes are understandable, not just because of the considerable opportunities anticipated with the emergence of biometric smart cards, but also because of the increasingly competitive market situation in mobile biometrics, which had spurred other fingerprint sensor specialists to expansionary efforts beyond the mobile market.
(Originally posted on FindBiometrics)