Eastern Bank Introduces World’s First Biometric Metal Card

Eastern Bank, headquartered in Dhaka, Bangladesh, has taken a significant stride in banking innovation with the introduction of the world’s first biometric metal card. This groundbreaking card, featuring IDEX Biometrics Mastercard certified technology known as IDEX Pay, is poised to redefine the banking experience for Eastern Bank Limited (EBL) customers starting from early 2024, as outlined in Fintech Global News.

In alignment with the government’s ‘Smart Bangladesh’ initiative, Eastern Bank plays a pivotal role in fostering inclusive and comprehensive digital economic growth. Bangladesh, boasting a population of 170 million, has been on a remarkable growth trajectory, driven by a robust demographic dividend, resilient remittance inflows, and stable macroeconomic conditions. As per Eastern Bank, the anticipated GDP growth of 6% in 2024 is set to outpace neighboring countries and the global average.

The biometric metal card, designed exclusively for EBL’s premium customers, offers an unprecedented level of security and a seamless payment experience. Tailored for the dynamic and tech-savvy, this contactless card embodies exclusivity and cutting-edge technology. It is expected to boost card usage among EBL’s existing premium clientele.

Expressing his enthusiasm about this groundbreaking offering, Ali Reza Iftekhar, CEO of Eastern Bank PLC, stated, «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.»

He further added, «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.»

Catharina Eklof, Chief Commercial Officer at IDEX Biometrics, also commented on this innovative partnership, saying, «We are honored 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.»

This groundbreaking initiative by Eastern Bank signifies a leap forward in the realm of banking technology, promising a more secure and convenient banking experience for customers in Bangladesh and setting a new standard for the industry worldwide.

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