In September 2024, an existing China-based OEM distributor placed a significant order for NEXT Biometrics’ Basalt FAP 20 sensors. These sensors will be integrated into ID solutions to support banking applications in the Chinese market.
Initial Order and Market Integration
The initial purchase, valued at $740,000, was part of a broader strategy aimed at securing new designs wins and integrating devices for banking in the region. This order underscores NEXT Biometrics’ growing presence and demand for their fingerprint solutions within China’s banking and financial services industries.
Modern authentication technologies like NEXT’s Active Thermal solution are gaining traction, offering enhanced security, speed, convenience, and reliability. The company expects this trend to continue, aligning with the stringent regulatory requirements of the banking sector.
Trust and Performance
The ongoing trust from financial institutions in China reflects positively on NEXT Biometrics’ Basalt FAP 20 solution. The projected annual volume for this deal is approximately $74,000, with deliveries anticipated to begin in the third quarter of 2025.
The Active Thermal technology leverages heat and 3D imaging to improve authentication speed and live detection capabilities. This solution is designed to operate efficiently under various light conditions while maintaining compliance with international standards such as Aadhaar, FBI-PIV, MOSIP Compliance, and NIBSS.
