NEXT BIOMETRICS GROUP ASA Oslo ,August 13, 2021 -NEXT Biometrics (Oslo Bors : NEXT), has signed a partnership agreement with Paravision, theSan Francisco -based, #1 rankedU.S. face recognition company. The partnership enables NEXT to offer dual authentication methods to customers looking for both face and fingerprint biometric solutions. Paravision is the #1 rankedU.S. provider and a top-10 global provider in several of NIST's Face Recognition Vendor Test (FRVT) reports. Utilizing the latest in AI and computer vision, Paravision delivers better than 99.9% accuracy in many use cases. Customers in several industry sectors will now be offered both top-ranked face recognition and FBI-certified fingerprint solutions. As an example, NEXT already has existing customers providing devices including both fingerprint and face authentication methods. With this partnership NEXT will become even more relevant in a rapidly developing biometric industry. "We are proud to partner withNEXT Biometrics to power trusted, industry-leading face recognition and dual authentication solutions. Face and fingerprint are highly complementary, and we're excited to see NEXT deliver the value of both modalities to their customer base." says Paravision CEODoug Aley . In this multi-year agreement, Paravision will support NEXT in providing dual authentication solutions to customers. This will enable NEXT to start generating software revenues on top of existing fingerprint hardware revenues. "We have found a perfect partner in Paravision. With this step NEXT enters the software market and we enrich our biometric offering overnight", says NEXT CEOPeter Heuman . AboutNEXT Biometrics NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets. The company's patented NEXT Active ThermalTM principle allows the development of large, high quality fingerprint sensors in both rigid and flexible formats.NEXT Biometrics Group ASA (www.nextbiometrics.com) is headquartered inOslo , with sales, support and development operations inSeattle ,Taipei , Bengaluru andShanghai . About Paravision Powered by AI and leveraging the latest advances in deep learning, Paravision's industry-leading computer vision software is trusted globally by security device manufacturers, solution providers, systems integrators, and financial services firms to deliver frictionless experiences and comprehensive safety and security. From the latest in Edge AI platforms to cloud-ready solutions, Paravision powers computer vision-centric solutions with modular, highly scalable toolsets that deliver breakthrough capabilities in the most challenging conditions. www.paravision.ai NEXT Investor contact: CEO,Peter Heuman , peter.heuman@nextbiometrics.com CFO,Eirik Underthun , Eirik.underthun@nextbiometrics.com This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Thisstock exchange announcement was published byEirik Underthun , CFO atNEXT Biometrics Group ASA , onAugust 12, 2021 at20:25 CET .
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