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Biometric ID Company Boasts About Joining The World Economic Forum

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Fingerprint Cards, the Swedish biometrics company, has taken a big step into the World Economic Forum’s (WEF) New Champions Community, an assembly of mid-sized enterprises. We know that the WEF is keen to promote biometric forms of digital ID and, flaunting the distinction of being the inaugural biometric firm in the Community, Fingerprint Cards’ underlying goal is to be the guiding light in biometric technology, and a steward of “social inclusion.”

What’s Happening: The New Champions Community’s schedule includes a meeting in Tianjin, China from June 27 to 29 during the WEF Summer Davos gathering.

A Word From The Inside: Charles Burgeat, Senior Vice President of Strategy at Fingerprint Cards, imparted what he thought was a nugget of wisdom: “As a proud member of the WEF New Champions Community program, we want to be recognized as a purpose-driven company that contributes positively to the changes needed to operate in the new digitalized world. By joining this Community, we look forward to brainstorming and exchanging ideas with peers, and bring our expertise of the biometrics industry.”

Setting the Context: Fingerprint Cards faced choppy waters in Q1 of 2023, posting a loss of 70 million Swedish krona ($6.4 million) on a revenue of SEK 117 million ($10.8 million), Biometric Update reported. However, the firm plowed forward, achieving key milestones, including integrating its fingerprint biometrics in 700 Android smartphones and shipping 1 million biometric sensor modules for payment cards. Xiaomi’s Redmi K60 secured the distinction of being the first smartphone boasting Fingerprint Cards’ under-display tech. Xiaomi is a Chinese tech company.

WEF and Biometrics: The World Economic Forum, already well-versed in the digital tapestry of biometrics, continues to champion the sector. The organization previously inducted Yoti into an associated coalition.

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