Norwegian biometrics company NEXT Biometrics recently announced its entry into the biometric market in Bangladesh. Following the multi-year agreement with Commlink Infotech LLC, the customer has now confirmed the first order delivery, valued at NOK 3 million. NEXT’s deliveries have started in Q2, and the client’s product launch is expected in Q3 2024.
In line with its strategy, NEXT continues to expand its business to high-tier segments in selected growth regions. As previously communicated, the company recently made its market entry into Bangladesh by signing a multi-year agreement with Commlink Infotech LLC (Commlink). The total five-year contract value is NOK 95 million.
The agreement covers deliveries of NEXT’s flagship fingerprint sensor FAP20 for integration in Commlink’s biometric reader, targeting the banking applications of Bangladesh. Commlink has now confirmed the first delivery as a part of the agreement. The order value is NOK 3 million.
“I am very pleased to announce and confirm this first delivery. Not only is it a significant proof-point for NEXT in our company’s intense scale-up phase, but it also validates the strength and functionality of our strategy and the attractiveness of our technology”, says Digvijay Singh Kanwar, Senior Vice President and Head of Sales, India, USA, Europe and Africa, at NEXT.
When signing the agreement, NEXT´s expertise in active thermal, fingerprints technology and its ability to provide a state-of-the-art and proven Liveness feature, a function which helps to identify fake authentication attempts and thus prevent biometric identity spoofing, was emphasized.
“Commlink is one of the largest players on the market in Bangladesh and I am proud they have trust in us as their partner. It is a testimonial of the added value and security that our active thermal technology offers as the financial industry’s need for safe and reliable authentication keeps increasing. We very much look forward to supporting Commlink throughout the launch of their biometric reader later this year”, concluded Digvijay Singh Kanwar.
For more information, please contact:
Ulf Ritsvall, Chief Executive Officer
ulf.ritsvall@nextbiometrics.com
Eirik Underthun, Chief Financial Officer
eirik.underthun@nextbiometrics.com
About NEXT
NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the payment and fintech, government ID, access control and office and notebook markets. The company’s patented NEXT Active Thermal ® principle allows the development of large, high-quality fingerprint sensors with superior security level. NEXT Biometrics Group ASA is headquartered in Oslo, with sales, support, and development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.