Idex Biometrics, aprovider of advanced fingerprint identification and authentication solutions, has received its first production orders under an agreement entered into in 2019 to provide fingerprint sensors to a leading global provider of financial services and news. Following initial sample orders in the fourth quarter of 2019, IDEX has now received the first production orders under this program with a minimum commitment of USD 6 million.Throughout 2019, IDEX worked with this customer to customize, test, and qualify the IDEX solution for this high-security application. These first production orders are expected to ship in the second quarter of 2020 and a regular flow of orders is expected to result in monthly shipments as the IDEX-based solution gets deployed to the customer's end users. Stan Swearingen, CEO of IDEX comments: “Our solution has now been validated by a major global customer with significant experience in the use of biometrics on its products. This is the largest commitment in IDEX's history, and our team has done a tremendous job meeting customer requirements and preparing for volume shipments. We now expect a regular flow of purchase orders from this customer and look forward to being an integral part of the rollout of their enhanced biometric security solutions”.
Idex wins financial services contract
