Swedish biometrics company expands in Europe and Asia
Swedish biometrics company, Fingerprint Cards, is seeing more and more reasons to move closer to "the action". The world’s top three payment card producers are all based in continental Europe, while most of the largest smartphone OEMs are headquartered in Asia - so that's where the company's heading.
The company says that it will establish two regional offices, one in Shanghai, China and the other in Zug, Switzerland. The Shanghai office will be the company's center for its Mobile business line, while the office in Zug will function as its Payments & Access business line centre. "Shanghai, being the most important economic, financial, trade, and shipping hub in China, is close to our major customers and partners in the mobile industry, while Zug has become a well-respected and established hub in the payments marketplace, with its central European connections," the company writes in a press release. At the same time, Fingerprints will also set up a sales and distribution hub in Singapore in order to streamline inventory management and realise economies of scale in its distribution operations to multiple markets. “As we enter the next phase in Fingerprints’ development, I believe that close collaboration and proximity to key customers, suppliers and partners, as well as access to critical talent, will be even more crucial to our success. Our new organization will benefit our operations through enhanced organizational flexibility, speed, cost- and cash effectiveness, as well as through a sharper focus on our two individual business lines,” says Christian Fredrikson, President & CEO in the press release.