TORONTO, ON--(Marketwired - Jul 7, 2017) - A top biometrics magazine says NEXT Biometrics (Oslo Bors: NEXT) CEO Ritu Favre is preparing to scale its large, low-cost flexible fingerprint sensors with focus on key market sectors where top security is vital. NEXT is leveraging technological, partnership and product strengths for significant near-to-long term growth.
Favre told Biometrics Update Magazine that NEXT is focused on four key market sectors: smart cards, Government ID, access control and notebooks. "The goal for NEXT is to leverage the strength of our technology, our large flexible sensor and the low-power capability that is going to be required in the market space," she said.
NEXT provides the highest-quality lowest-cost fingerprint sensors and Favre said such pricing enables clients to purchase larger and more secure sensors vitally important in financial transactions, access control and other secure product applications."
Exemplifying the range of sensor uses she said, "NEXT, which three months ago shipped its two millionth sensor, is delivering against its first volume order for biometric smart cards, building on supplying sensors for rugged commercial high security notebooks, providing sensors to a Tier 1 semiconductor company in access control and government ID and shipping sensors for products such as secure innovative luggage, each illustrative of the many possibilities for NEXT sensors."
The CEO told Biometric Update's Chris Burt that, "NEXT has begun the long-term process of entering and working in the enormous government ID market, which is a slow process requiring rigorous screening, certification and testing for potential customers before selling to them. While most government-approved fingerprint sensors are optical, NEXT has the advantage of using our proprietary active thermal technology, enabling significant cost savings for clients."
Online at BiometricUpdate.com, its article noted that Favre points out that government and smart cards are long-cycle markets with bulk volume sales coming only after certification, the right partnerships, a fully-integrated product, market demand and production capacity have been developed. "NEXT is well on the path to achieving these criteria with superior product, many partnerships and mass production capability in place," the CEO said.
"NEXT's partnership with Innolux gives NEXT mass production capacity and we are ready to play a central role in the biometric smart card sector and as that market emerges and growing activity provides stakeholders with impetus to achieve the necessary innovation for card makers and ultimately banks to integrate NEXT's sensors into products and services."
Favre emphasized, "NEXT has an excellent opportunity to also meet a broader set of fingerprint sensor uses than in the past. We have developed our large, flexible, ISO-compliant low-cost sensor and a 'power road-map' primarily to service the smart card market and the carryover of some or all of those characteristics could prove compelling to customers in other markets on which NEXT is increasingly focused."
Favre joined NEXT early this year from her post as Senior Vice President and General Manager of the Biometric Products Division of Synaptics and before that at Freescale was Senior Vice President and GM of its RF Group. "We have an excellent technology team and I am pleased two key executives recently joined us. Dan Cronin is now EVP of Engineering and Zehira Dadon-Sitbon is VP Product and Program Management. Each brings three decades of senior executive semiconductor experience at global firms. I hope to augment our team further this year."
Asked about her role as one of few women CEOs in technology, Favre said she is pleased by the increasing number of women entering the field and that she encourages young women and girls to study and pursue careers in STEM (science, technology, engineering and math).
Biometrics Update is a leading biometrics publication, based in Toronto, Canada.
ABOUT NEXT Biometrics: Enabled by its patented NEXT Active Thermal principle, NEXT Biometrics (www.NextBiometrics.com), offers high quality area fingerprint sensors at a fraction of the prices of comparable competitors. A wide range of product formats including smartcards, smartphones, tablets, PC's, access control, time registration systems, wearables, payment terminals, flash drives, USB tokens, key fobs and many more are targeted.
NEXT Biometric Group ASA is a publicly listed company headquartered in Oslo, Norway (traded on Oslo Bors: NEXT) and with sales, support and development subsidiaries in Seattle, Silicon Valley, Taipei, Prague and Shanghai. Media and Investor contacts for NEXT Biometrics are CEO Ritu Favre at Ritu.Favre@NEXTbiometrics.com and CFO Knut Stalen at Knut.Stalen@NEXTbiometrics.com.
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