Product Milestone Achieved – NEXT Biometrics Demonstrates Engineering Samples for Its New FAP30 Sensor

20 Dec 2024 13:00 CET

NEXT Biometrics, NEXT, has completed its first FAP30 fingerprint engineering
samples. Following several successful meetings with partners and an analysis of
the current tenders on the market, NEXT also estimates the total addressable
market to be larger than previously expected.

As previously announced by NEXT, it has been working on the development of its
FAP30 product, an Active Thermal® based fingerprint sensor aimed for the most
demanding security environments such as governmental environments, border
control and banking applications. In these demanding environments, it is crucial
that authentication and verification are done swiftly, securely and that the
process remains untampered with.

Engineering Samples Milestone Achieved
Marcus Lauren, Chief Product Officer at NEXT, expressed his enthusiasm:
“We have met with multiple market parties and demonstrated our FAP30 product
during the last nine months. We are quite taken by the strong and positive
feedback we have received and to note the market’s immediate demand for it. One
of the strongest features of the FAP30 is its outstanding picture quality and
built-in anti-spoofing, which provides unmatched capability to detect liveness
in the finger. The larger size is naturally also an important feature that
ensures a more complete picture of the fingerprint.”

The FAP30 can easily be fitted into and integrated into various system
requirements and surroundings. NEXT notes the market has given its standing
ovations to the samples that have been shown. Following the recent development
of outstanding industry tenders, NEXT has also revised and heightened its
previous estimates of the total addressable market for its FAP30 sensor.

Market Opportunities Larger than Previously Expected
Mr. Lauren continued:
“Based on our initial analysis, we estimated the total addressable market for
the FAP30 to be 1 million units. However, right now we note outstanding tenders
that are larger than our initial estimate of the total addressable market. It is
still early in the process and hence we will not give any further guidance as of
right now, but we believe our initial estimates ought to be updated.”

He concluded:
“We are ready with our production of engineering samples and excited to
accelerate with this product. Our calendars are open, and me and my team look
forward to meeting with more interested parties to demonstrate the added value
of using our FAP30.”

For more information, please contact:

Ulf Ritsvall
Chief Executive Officer, NEXT
ulf.ritsvall@nextbiometrics.com

Eirik Underthun
Chief Financial Officer, NEXT
eirik.underthun@nextbiometrics.com

www.nextbionetrics.com

About NEXT Biometrics
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.

For more information, please visit us at https://www.nextbiometrics.com

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