ETUNNEL Anticipates $75M in Sales Through UN Biometric Card Partnership

ETUNNEL Inc., a Seoul-based company, has entered into a partnership with the International Telecommunication Union (ITU), an affiliate of the United Nations (UN), to supply biometric smart cards. The collaboration aims to strengthen global identification security over the next five years and could generate up to $75 million in sales for ETUNNEL, the company says.

The biometric smart card developed by ETUNNEL integrates traditional identification features with biometric authentication. The front of the card displays the user’s photo and name, while the back includes a microchip and a fingerprint recognition device. The smart card also supports additional functions such as PC authentication, email encryption, electronic document signing, and electronic voting, which are essential in certain UN operations.

The partnership will involve deploying these biometric smart cards across ITU member organizations, which include 193 member nations and over 1,000 corporate members.

The UN and its 40 affiliated organizations plan to use ETUNNEL’s biometric smart cards for up to one million personnel. ETUNNEL anticipates $75 million in sales over the next five years, supported by initial demand and a three-year replacement cycle to maintain security updates.

ETUNNEL’s technology is powered by its P2N2 Integrated Biometric Recognition AI Engine, which supports various authentication methods, including fingerprint, facial, palm vein, and iris recognition.

Source: Boerse

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September 25, 2024 – by Ali Nassar-Smith