Oslo, Norway and Dhaka, Bangladesh – 19 December 2023: Eastern Bank PLC. (EBL), headquartered in Dhaka, the capital city of Bangladesh and a market leader in corporate, retail and SME banking, is set to launch the world’s first biometric metal card, powered by the IDEX Biometrics Mastercard certified technology, IDEX Pay. EBL customers will have the biometric metal cards in their hands by early 2024.
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%.
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.
“We are excited to introduce biometric metal cards to our customers, complying with all regulatory requirements in Bangladesh and being the first to offer this latest technology, 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.
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
About EBL
A game changer in Bangladesh’s fast growing financial sector, the success of EBL comes from its continuous effort to innovate products and services, its commitment to offer service excellence and passion of performance. With a sound asset quality, strong liquidity, adequate capital coverage and good corporate governance, EBL is a symbol of stability in Bangladesh Financial Market. EBL has been known for its consistent and sustainable growth over the past 30 ears and is being acclaimed for its customer-focus approach. EBL is committed to remain 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.
About this notice
This notice was published by Marianne Bøe, Head of Investor Relations, on 19 December 2023 at 08:00 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to section 5-8 of the Norwegian Securities Trading Act (STA) and published in accordance with section 5-12 of the STA.
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