Eastern Bank in Bangladesh is launching what it claims is the world’s first biometric metal card for premium customers. Set for launch in early 2024, the card, supplied by Idex Biometrics, received full Mastercard certification in August.
„Eastern Bank PLC. and Oslo based IDEX Biometrics signed an agreement to launch world’s first biometric metal card at EBL Head Office, Dhaka, Bangladesh. With advanced security features and seamless transaction capabilities, the exclusive card not only offers financial solutions but also ensures a secure and hassle-free payment experience for the cardholders.” according to the press release.
„EBL’s premium segment will be the first to benefit from this new contactless card. The biometric metal card offers the highest level of security and a seamless payment experience, making it an ideal choice for customers seeking distinctive and exclusive payment solutions that align with their dynamic and tech-savvy lifestyles. This innovative solution is expected to increase card usage among their existing premium customer base.” according to Idex Biometrix.
The card includes the Idex biometric sensor, a Linxens EMV2 module including Infineon’s SLC38B secure element, card inlay with antenna, and the IDEX card operating system. Customer simply place their thumb on the sensor to for tap-and-pay transactions at the checkout.
“We are excited to introduce biometric metal cards to our customers complying all regulatory requirements in Bangladesh and first to offer this latest technology to our customers, confirming our leadership and innovation positioning” says Ali Reza Iftekhar, Managing Director & CEO at EBL adding that, “The IDEX Biometrics solution provides a first-class payment experience. We believe biometric payment cards will become the new payment standard, supporting secure contactless payments, and ultimately bringing financial empowerment to all.”
“We are honoured that EBL has selected IDEX Biometrics as they pioneer biometric payments in Bangladesh. EBL’s premium customers will be the first group to receive these new contactless cards, as EBL again takes the lead on driving seamless payments across Bangladesh and Asia” says Catharina Eklof, Chief Commercial Officer at IDEX Biometrics.
____________
A digital innovator bank in Bangladesh, EBL is consistently providing high-quality banking services and cutting-edge financial solutions to its customers. EBL is a significant contributor to the government initiative ‘Smart Bangladesh’, a driving force behind inclusive and multifaceted digital economic development. Bangladesh with its 170 million population has an excellent track record of growth and development. A robust demographic dividend, resilient remittance inflows, and stable macroeconomic conditions have supported rapid economic growth over the past two decades. Bangladesh’s anticipated GDP growth for 2024 is 6%, outpacing its neighbours like India, Indonesia, and Philippines, as well as the global average of 2.9%.
IDEX Biometrics is a leading company specializing in biometric fingerprint sensor technology. With a focus on providing secure and convenient authentication solutions, IDEX has developed cutting-edge fingerprint sensor technologies for a variety of applications. Their innovations are widely used in smart cards, payment cards, access control systems, and other devices, offering users a reliable and efficient way to authenticate their identities.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
