IDEX Biometrics has set a date for its third quarter update: the results will be published on November 13th, and will arrive alongside a conference call slated for 10:00 CET. The call will be helmed by IDEX CEO Stan Swearingen as well as CFO Derek D’Antilio.
In announcing the plans, IDEX offered no details about what its presentation would entail; but it’s a fair bet that the company’s executives will spend some time discussing IDEX’s efforts in the biometric smart cards space, perhaps especially with respect to biometric payment cards. This has been IDEX’s primary area of focus over the last couple of years; and in its Q2 update issued in August, the company highlighted the progress it had been making with respect to reaching manufacturing and certification milestones, and establishing important partnerships.
While IDEX was one of the beneficiaries of the mobile biometrics boom that arrived in the wake of Apple’s launch of a fingerprint scanning iPhone in 2013, the company also became involved in smart card integrations of its fingerprint sensor technology several years ago. When major financial services companies started to experiment with incorporating fingerprint sensors into payment cards, IDEX was a pioneering partner in this area as well, establishing an important relationship with Mastercard that saw its technology used in some of the earliest biometric payment card trials.
The ultimate benefits of these efforts are likely still on the horizon, as no major financial services providers have yet launched large-scale commercial rollouts of biometric payment cards; so any significant revenues from the smart cards segment that might be reported in IDEX’s Q3 update will likely come from the area of access control. Nevertheless, the commentary from IDEX’s executives could shed some light on IDEX’s ongoing efforts to prepare for the mainstream emergence of biometric payment cards.
November 6, 2019 – by Alex Perala