Mutual Trust Bank launches biometric cards with IDEX Biometrics in Bangladesh

Oslo, Norway and Dhaka, Bangladesh – 02 April 2024: Mutual Trust Bank Limited (MTB) in Bangladesh is launching biometric payment cards based on IDEX Pay, the biometric solution from IDEX Biometrics. 

Mutual Trust Bank ranks amongst the top ten banks in Bangladesh and is recognized as one of the most sustainable banks of Bangladesh, winning Bangladesh's best bank for diversity and inclusion award in 20231. MTB is known for bringing innovative solutions to market in a customer-centric way, with their digital banking approach largely contributing to Bangladesh’s economic growth, offering financial support and inclusion for all. Biometric payment cards, equipped with fingerprint sensors, offers unparalleled security by uniquely linking the cardholder's identity to each transaction.  

“Contactless biometric payment cards align perfectly with MTB’s strategy of providing the most innovative, secure and frictionless payment solutions to our growing consumer base. These cards are expected to attract new customers and increase card usage among existing customers, bringing financial empowerment to the people of Bangladesh,” says Syed Mahbubur Rahman, Managing Director & CEO at MTB.  

“IDEX Biometrics continues our strategic focus on growth markets in Asia, pioneering biometric payments in Bangladesh. MTB is sharing our focus to continuously evolve toward the most convenient customer experience. Together we are bringing secure and ease of use to many more, meeting their lifestyles and financial needs,” says Catharina Eklof, Chief Commercial Officer at IDEX Biometrics.  

1Bangladesh Bank recognition 2020 

For further information contact: 
Marianne Bøe, Head of Investor Relations 
E-mail: [e-mail] 
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 Mutual Trust Bank  

Mutual Trust Bank PLC (MTB) is a third-generation private commercial bank, based in Dhaka, Bangladesh. MTB aspires to be one of the most admired banks in the nation and is recognized as an innovative and client-focused company. With a current network of 119 branches and 33 Sub branches, 200 Agent Banking Centers, 18 kiosks, 310 modern ATMs including 6 CRM Booths, 4 Air Lounges, and over 3,220 Point of Sales (POS) machines, located in prime commercial, urban and rural areas, MTB offers fully integrated real time Online Banking Services, Internet and SMS Banking to its clientele, through a dedicated Team of experienced Relationship Managers and Alternate Delivery Channels (ADC). 

For further information, visit www.mutualtrustbank.com 

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 discloses inside information pursuant to the EU Market Abuse Regulation and was published by Marianne Bøe, Head of Investor Relations, on 02 April 2024 at 08:54 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act.