Oslo, May 10, 2022 – NEXT Biometrics (Oslo Bors: NEXT), has received a purchase order for FAP20 sensors from existing customer Waxed Mobile in Africa 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 is 40,000 USD. The product is scheduled to be launched in Nigeria in June 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 in Nigeria, the “Raven” device will enable Waxed Mobile additional identification and authentication use cases in Nigeria.

”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” said Anthony 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 in South 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 in Africa. We are excited that yet another interesting new product includes NEXT sensors in the sub-Sahara region” said Ulf Ritsvall, SVP of Sales & Marketing of NEXT Biometrics.

About NEXT 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 (nextbio.eternitygroup.dev) is headquartered in Oslo, with sales, support, and development operations in Seattle, Taipei, Bengaluru, and Shanghai.

# # # # #

NEXT Investor contact:

Peter Heuman, peter.heuman@nextbiometrics.com

Eirik Underthun, Eirik.underthun@nextbiometrics.com

Insights and news straight down in your inbox
Sign up