NEXT BIOMETRICS GROUP ASA Oslo ,May 10, 2022 -NEXT Biometrics (Oslo Bors : NEXT), has received a purchase order for FAP20 sensors from existing customer Waxed Mobile inAfrica for a new product with a financial inclusion use case. This initial order covers a new product from Waxed Mobile aimed at a digital financial inclusion use case and the initial order value is40,000 USD . The product is scheduled to be launched inNigeria inJune 2022 . The new "Raven" product enables the agriculture industry to manage secure microfinancing for farmers in a cashless eco-system. Since NEXT FAP20 sensor is NBISS Biometric certified inNigeria , the "Raven" device will enable Waxed Mobile additional identification and authentication use cases inNigeria . "With this new product we provide the microlender the mechanism to finance the farming process and thus also enable the farmer to meet their financial responsibilities. We also minimize the need for any payments to be made in cash making transactions simpler, cheaper, and more secure in rural areas" saidAnthony Stewart , Group CEO of Waxed Mobile. This additional design win is a result of NEXT's close collaboration with Waxed Mobile and Digital Twin, an ICT company inSouth Africa . After more than 12 months of development, prototyping, verification, and certification of the Raven product, Waxed Mobile is ready to launch the biometric product in emerging markets covering the sub-Sahara region. "We are pleased that our collaboration with Digital Twin and Waxed Mobile has resulted in this innovative solution as part of a financial inclusion initiative inAfrica . We are excited that yet another interesting new product includes NEXT sensors in the sub-Sahara region" said Ulf Ritsvall, SVP of Sales & Marketing ofNEXT Biometrics . This information is considered to be inside information pursuant to theEU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. 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 Thermal 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 . # # # # # NEXT Investor contact:Peter Heuman , peter.heuman@nextbiometrics.comEirik Underthun , Eirik.underthun@nextbiometrics.comThis stock exchange announcement was published byEirik Underthun , CFO atNEXT Biometrics Group ASA , onMay 10, 2022 at09:55 CET .
Click here for more information
© Oslo Bors ASA, source
