BIO-key Expands Channel Alliance Partner Program in Africa, Adding Kenya-Based Cyber Security Provider Kristel Communication to Sell its Biometric and Identity and Access Management Solutions in High-Growth East African Markets
BIO-key International (NASDAQ: BKYI) has partnered with Kristel Communication Ltd., a Kenyan cybersecurity provider, to enhance its distribution of the PortalGuard Identity as a Service (IDaaS) solution in East Africa. Kristel will leverage its reseller network to sell BIO-key’s cloud-based identity management and biometric solutions, catering to commercial and government domains. The partnership aims to capitalize on the rising demand for IDaaS amid the shift to cloud computing and biometric authentication, as predicted by Gartner, which anticipates a 35% growth in the sector.
- Partnership with Kristel Communication enhances distribution of PortalGuard IDaaS in East Africa.
- Kristel has a well-established reseller network and experience in cybersecurity solutions.
- IDaaS market is expected to experience a 35% growth according to Gartner, indicating a favorable business environment.
- None.
NAIROBI, Kenya and WALL, N.J., April 07, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced it has added Nairobi, Kenya-based Kristel Communication Ltd., a leading provider of cyber security solutions in Africa, to its BIO-key Channel Alliance Partner Program. Kristel Communication will sell BIO-key’s PortalGuard cloud based Identity as a Service (IDaaS) solution and its biometric hardware and software solutions to commercial and government accounts through its reseller network in Kenya and other East African countries.
Kristel Communication is a leading cyber security solutions provider in Kenya and Eastern Africa with a broad reseller network and diverse array of cutting-edge network solutions that complement PortalGuard IDaaS and BIO-key’s biometric offerings. Kristel is the country partner for Bitdefender, which runs on over 500M systems worldwide, and is a distribution partner for Endpoint Protector, a data loss prevention solution for personal information and intellectual property recognized as a premier solution in Gartner's latest Enterprise DLP Magic Quadrant.
“We are anxious to begin selling BIO-key’s PortalGuard IDaaS solution through our reseller network,” affirmed Ben Obinju, CEO of Kristel Communication. “Our experience with selling cloud-delivered security solutions will be critical as we introduce the PortalGuard platform to our customers. Our customers expect a reduced total cost of ownership by moving to a SaaS model of delivery since the overhead burden of hosting and maintaining the solution is no longer necessary. Many of our customers, such as those in financial services will also take advantage of the integrated biometric solutions that BIO-key offers.”
“We are excited to welcome Kristel Communication to our Channel Alliance Partner Program and expand our footprint in Africa,” said Michael DePasquale, Chairman and CEO of BIO-key International. “Kristel has a demonstrated track record of exceptional customer service, a critical factor for us as we expand into new markets. Our IDaaS solution is a great fit for Kristel and their customers. IAM technology needs to be flexible, available everywhere, and highly reliable, allowing customers to focus on their mission. Integrated biometrics is also extremely important for many of Kristel’s target markets. Kristel has outstanding experience selling cybersecurity solutions in Kenya and other countries in East Africa. They have developed a strong reseller network throughout the region and provide excellent support, ensuring high levels of customer satisfaction.”
PortalGuard IDaaS’s unmatched security, flexibility, ease of deployment and support for fifteen different authentication factors allows customers across myriad industries to become secure “cloud first” businesses, while maintaining the highest levels of security.
PortalGuard IDaaS includes BIO-key’s NIST-certified device-or-server biometric authentication factors, along with fourteen other factor options for flexible authentication. As the demand for always-on cloud computing rises to all-time highs with the global shift to work-from-anywhere, PortalGuard IDaaS lets customers leverage existing authentication factors, accelerate deployments, cut costs and simplify operations instead of managing a mission-critical IAM solution on premise.
IDaaS is expected to experience strong growth. Gartner anticipates a 35 percent global increase in midsize and larger organizations using identity and access management capabilities delivered via SaaS to fulfill most of their identity needs, a prediction made prior to the COVID-19 driven shift to work-from-anywhere. Gartner also predicts growth for biometric authentication given its lower deployment costs, better phishing resistance and superior user experience. BIO-key’s PortalGuard IDaaS and biometric solutions are an efficient and proven means for customers to be ready for whatever challenges the future brings.
About BIO-key International, Inc. (www.bio-key.com)
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, including customized enterprise and cloud solutions.
About Kristel Communications, Limited (KLC) (www.kristel.co.ke)
Kristel Communication is a leading cyber security solutions provider in Kenya and has been in the ICT industry offering diverse and leading network solutions. KCL focuses on offering our clients the best and leading solution products, that are current and relevant in managing any network.
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. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; delays in the development of products and statements of assumption underlying any of the foregoing 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, 2020 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our company in particular have been material, are changing rapidly, and cannot be predicted.
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| Media Contact Erin Knapp Matter Communications BIO-key@matternow.com 914-260-3158 | Investor Contact William Jones, David Collins Catalyst IR BKYI@catalyst-ir.com 212-924-9800 |
FAQ
What is the significance of the partnership between BIO-key and Kristel Communication?
How will the PortalGuard IDaaS solution benefit customers in Kenya?
What market growth is projected for the IDaaS sector?
What are the expected advantages of using biometric solutions in IDaaS?
