NEXT BIOMETRICS GROUP ASA NEXT Biometrics , NEXT, confirms that a Tier one Chinese OEM for bank's has now approved the first product integration of its China ID sensor solution - further progress is expected in Q2 2024. One of NEXT's customers which was announced onSeptember 1, 2023 , has now approved and successfully integrated NEXT's China ID certified sensor solution into its device targeting the banking market inChina . This product integration is an important milestone for both the short and long-term development of NEXT's product portfolio.Marcus Lauren , Chief Product Officer at NEXT, explains the implications of the achievement: "This is our first customer integration that is based on our China ID certified, flagship FAP20 sensors. Our customer's biometric integration will address banking, finance and governmental applications, all top-tier security segments where a China ID certification is a prerequisite. I would like to emphasize that this is an important proof-point for our technology, a progressive milestone has now been achieved." The China ID certification is used for on-device authentication and verification purposes. It is a certificate providing NEXT´s customer access to otherwise closed market segments. This product milestone was delayed in the internal product development processes, which delayed the corresponding product approval among customers. Some orders placed in Q1 as expected, will be booked in Q2 instead. The specific Tier one Chinese OEM expects to place orders for 2024 and 2025 in the range ofNOK 24-27 million . This information in this stock exchange announcement is considered to be inside information pursuant to the EU Market Abuse Regulation and is published in accordance with section 5-12 the Norwegian Securities Trading Act. For more information, please contact: Ulf Ritsvall, Chief Executive Officer ulf.ritsvall@nextbiometrics.comEirik 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 inOslo , with sales, support, and development operations inSeattle ,Taipei ,Tokyo ,New Delhi andShanghai . Thisstock exchange announcement was published byEirik Underthun , CFO atNEXT Biometrics Group ASA , on3 May 2024 , at 12:50 hours (CET).
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