On December 19, 2023, Eastern Bank PLC (EBL), headquartered in Dhaka, Bangladesh, announced the launch of the world’s first biometric metal card, powered by IDEX Biometrics’ Mastercard certified technology, IDEX Pay. EBL, a digital innovator in the banking sector, is set to distribute these cutting-edge cards to its customers in early 2024. The bank is recognized for providing high-quality banking services and advanced financial solutions, contributing significantly to the government’s ‘Smart Bangladesh’ initiative, aimed at fostering inclusive digital economic development.
Bangladesh, with a population of 170 million, has shown remarkable growth and development, boasting a robust demographic dividend, resilient remittance inflows, and stable macroeconomic conditions. The anticipated GDP growth for 2024 is 6%, surpassing neighboring countries such as India, Indonesia, and the Philippines, as well as the global average of 2.9%.
The initial beneficiaries of EBL’s biometric metal card will be its premium segment customers. This contactless card is designed to offer the highest level of security and a seamless payment experience, catering to customers with dynamic and tech-savvy lifestyles. The bank aims to increase card usage among its premium customer base with this innovative solution.
Ali Reza Iftekhar, Managing Director & CEO at EBL, expressed excitement about introducing biometric metal cards, emphasizing compliance with regulatory requirements in Bangladesh and the bank’s commitment to leadership and innovation. He believes that biometric payment cards will set a new standard, supporting secure contactless payments and promoting financial empowerment.
Catharina Eklof, Chief Commercial Officer at IDEX Biometrics, expressed gratitude for EBL’s selection of their technology, noting that EBL’s premium customers will be the first to experience these contactless cards. EBL is positioned as a leader in driving seamless payments in Bangladesh and Asia.
About IDEX Biometrics:
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions in payments, access control, and digital identity. The company’s patented and proprietary sensor technologies, integrated circuit designs, and software enable convenient, secure, and seamless user experiences.
Visit www.idexbiometrics.com for more information.
About EBL:
Eastern Bank PLC (EBL) is a game changer in Bangladesh’s rapidly growing financial sector. With a commitment to innovation, service excellence, and performance, EBL has achieved success through continuous efforts to enhance products and services. Recognized for its stability, strong asset quality, liquidity, capital coverage, and corporate governance, EBL is a symbol of reliability in the Bangladesh Financial Market. The bank is dedicated to being a strong partner in accelerating Bangladesh’s journey to a trillion-dollar economy by 2040.
For further information, visit www.ebl.com.bd.
Trademark Statement:
IDEX, IDEX Biometrics, and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.
Notice Details:
This notice was published by Marianne Bøe, Head of Investor Relations, on December 19, 2023, at 08:00 CET on behalf of IDEX Biometrics ASA. The information is disclosed according to section 5-8 of the Norwegian Securities Trading Act (STA) and published in accordance with section 5-12 of the STA.
