BIO-key Announces New Fingerprint Scanner Hardware Additions to Support Secure and Convenient Biometric Authentication

Rhea-AI Summary

BIO-key International (NASDAQ: BKYI) announces the launch of new biometrics hardware solutions, including the Pocket10™ fingerprint scanner and USB-C versions of the SidePass® and SideSwipe® scanners. Designed to meet rising demand from enterprises and government, these devices enhance mobile enrollment and provide secure authentication options. The global biometric market is projected to grow from $22 billion in 2021 to $55 billion by 2027. These innovations strengthen BIO-key's position as a leader in identity and access management solutions.

Positive

• Launch of innovative fingerprint scanners including the Pocket10™.
• Devices are FBI FAP50, NIMC, and STQC-certified, enhancing trust and reliability.
• USB-C versions of existing products cater to modern connectivity needs.
• Designed to meet increasing demand in the biometrics market, projected to grow significantly.

Negative

• None.

BIO-key extends leadership with comprehensive hardware options and fully integrated IAM platform

WALL, N.J., April 12, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced the immediate availability of several new additions to its lineup of fingerprint scanners to meet the growing demand from enterprises and government for new form factors and USB connection options. First, BIO-key introduced Pocket10^™, its FBI FAP50, NIMC- and STQC-certified fingerprint scanner, which captures ten print enrollments in a compact, pocket-sized form factor, allowing highly mobile enrollment capability suitable for national IDs, background check submissions, and law enforcement use. Second, BIO-key unveiled USB-C versions of its popular SidePass^® and SideSwipe^® fingerprint scanners. With this next generation of affordable hardware options for its customers, BIO-key continues its leadership in developing hardware to support the most secure and convenient authentication method - biometrics.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/3e05e6b3-f0da-4eb0-b4e5-618ab5d331a4
https://www.globenewswire.com/NewsRoom/AttachmentNg/88769c7e-2fd7-4cf9-af35-be39e789a754
https://www.globenewswire.com/NewsRoom/AttachmentNg/499fc15b-0268-419e-9310-49bbaca351cc

BIO-key’s entire line of single-finger USB fingerprint scanners are all tested and qualified as Windows Hello accessories, allowing enterprises to deliver Windows Hello biometric experiences to users who lack a fingerprint scanner for secure access. Where higher levels of assurance are required, BIO-key’s award-winning PortalGuard^® Identity-as-a-Service (IDaaS) platform, offers Multi-Factor Authentication (MFA), Single Sign On (SSO), and Self-Service Password Reset, which incorporates BIO-key’s server-secured biometric management for maximum flexibility and assurance when authenticating users. Additionally, BIO-key’s software is scanner independent, allowing customers to mix and match any of over 40 supported fingerprint scanners to deliver a secure biometric experience. With this unmatched combination of platform and hardware options, BIO-key customers and partners have access to flexible, cost-effective, and secure solutions to secure the way their employees, customers and partners access their systems, no matter where they work.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/7f0f8bc9-cad4-45e1-b527-fbba9ac66542
https://www.globenewswire.com/NewsRoom/AttachmentNg/54e4baad-a82e-487e-a621-4dc59de368ed

The demand for biometric authentication solutions is increasing rapidly as companies seek to replace outdated security methods provided by password-based authentication. The global market for biometrics is expected to increase from $22 billion in revenue this year to $55 billion in 2027, according to Raconteur. In North America and Europe, respondents note that fingerprint biometrics are faster, more convenient and more secure than passwords or other security methods.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/94b7e2f7-0e72-4c6d-ac9a-e8d986a1bf56
https://www.globenewswire.com/NewsRoom/AttachmentNg/08aa155f-da31-480e-a88f-8f6d3643cffb

“The release of these new low-cost, high-quality fingerprint scanners enable faster, more economical identity workflows for BIO-key customers,” said Kimberly Johnson, Vice President of Products, BIO-key. “Not only are these scanners secure and more convenient than passwords, tokens and phone factors for the end user, they are easily integrated into customers’ existing security solutions and align with our WEB-key and PortalGuard IDaaS platform. BIO-key continues to lead the industry by providing the most advanced and secure biometric product offerings to a broad range of customers and partners.”

For more information about BIO-key’s Biometric Identity Solutions, visit www.bio-key.com

About BIO-key International, Inc.
BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access
management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications, and high-value transactions. BIO-key’s proprietary software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.

BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements, as well as other factors set forth under the caption see "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2019, and other filings with the Securities and Exchange Commission.

Engage with BIO-key:
Facebook – Corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – Corporate: https://www.linkedin.com/company/bio-key-international
Twitter – Corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR

Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158

FAQ

What new products did BIO-key launch on April 12, 2021?

BIO-key launched the Pocket10™ fingerprint scanner and USB-C versions of its SidePass® and SideSwipe® scanners.

What is the significance of the Pocket10™ fingerprint scanner?

The Pocket10™ is an FBI FAP50 certified device that allows mobile enrollment suitable for national IDs and law enforcement.

What market is BIO-key targeting with its new biometric solutions?

BIO-key is targeting enterprises and government sectors that require secure identity and access management solutions.

What is the expected growth of the biometric market according to the press release?

The biometric market is expected to grow from $22 billion in 2021 to $55 billion by 2027.

How does BIO-key's technology integrate with existing security systems?

BIO-key's scanners are compatible with the PortalGuard IDaaS platform, allowing easy integration into existing security solutions.