Company Announcements

Oslo, Norway, and Seoul, South Korea 19 November 2024 – IDEX Biometrics has entered into a commercial development agreement with South Korean smart card manufacturer Cellfie Global (formerly ICK) to design, manufacture and market biometric metal and PVC cards for bank and fintech launches in USA, Europe and Asia. This gives IDEX Biometrics full coverage across all four card manufacturers in South Korea, representing a production capacity in excess of 100 million smart cards annually, and with world leading metal card manufacturing capabilities.

Cellfie Global has a strong customer base in mainly USA and Europe, markets representing 78% of the 40 million annual metal card shipments. Cellfie Global’s leading metal cards provide a unique sensory experience that is driven by card weight, card sound, card technology and a unique design perspective, bringing a different metal card solution to banks and fintechs globally.

"We are excited to provide state-of-the-art biometric capability to our metal card and PVC range of card products enabled by IDEX Biometrics. We see a huge potential for our USA company, ICK International, to accelerate deployment of the next generation of contactless cards and a means for us to differentiate.” says Yoo Ki Jong, Chief Executive Officer of Cellfie Global. "Biometric cards are a must have for leading smart card providers like Cellfie" he continues.

“With Cellfie’s strong customer portfolio in USA and Europe and a CAGR of metal cards projected at close to 25%, the opportunity for IDEX Biometrics is substantial. As a world leading metal card manufacturer, Cellfie Global strengthens our growing portfolio of smart card makers globally and in South Korea with unique capabilities and an innovative competitive edge”, comments Catharina Eklof, Chief Executive Officer of IDEX Biometrics.“

Source: Business Research Insights; Metal Card CAGR of 24.4% by 2031

For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: ir@idexbiometrics.com
Tel: + 47 67 83 91 19

About IDEX Biometrics

IDEX Biometrics ASA (OSE: IDEX) 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 Cellfie Global

‍‍Since 1998 ICK has been a premier supplier of financial cards to all global payment schemes including VISA, Mastercard, American Express, China Union Pay, JCB. As a full-service card manufacturer in all areas of card design, chip deployment and processing, Cellfie/ICK brings leading edge design and products to a global audience. ICK in USA leads metal cards markets and serves customers around the world.

In 2008 ICK launched its financial metal cards products and today enjoys the recognition from the market as one of the leaders in this fast-growing market. ICK has developed leading edge technology to allow for tapping on both sides of the card and holds several patents that enable cardholders to have a great user experience at the point of sales.

For more information, visit www.ickusa.com

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.

About this notice:
This notice was issued by Marianne Bøe, Head of Investor Relations, on 19 November 2024 at 10:15 CET on behalf of IDEX Biometrics ASA.