BIO-key International and 3Eye Technologies Partner to Deliver Identity-Bound Biometrics to New Markets
BIO-key International (NASDAQ: BKYI) has announced a partnership with 3Eye Technologies to enhance its Identity and Access Management (IAM) solutions. This collaboration aims to provide advanced security and convenience in sectors such as financial services and local governments. By leveraging 3Eye Technologies' network, BIO-key plans to broaden its reach, focusing on the increasing demand for secure IAM solutions in the wake of rising cyber threats. This strategic alliance positions BIO-key to further penetrate key markets while promoting its innovative Identity-Bound Biometrics technology.
- Partnership with 3Eye Technologies enhances market reach in financial services and local government sectors.
- Increased demand for secure IAM solutions due to growing cyber threats.
- BIO-key's unique Identity-Bound Biometrics technology positions it as a leader in cybersecurity.
- None.
Partnership will offer the industry's most secure form of identity and access management solutions to governments and organizations worldwide
WALL, N.J., April 07, 2022 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of Identity and Access Management (IAM) solutions featuring Identity-Bound Biometrics (IBB), today announced a new partnership with 3Eye Technologies, a value-added distributor of mobile, security, and identity solutions. The affiliation will enable BIO-key to introduce its award-winning solutions and IBB to a larger set of consumers, especially in financial services and local governments. This partnership will enable them to bring higher security and convenience to organizations looking for complete IAM solution packages.
3Eye Technologies collaborates with vendors to plan and execute strategies for distributing cutting-edge technological solutions to targeted industries. The company aims to build relationships with leading technology vendors like BIO-key to empower value-added resellers (VARs) and managed service providers (MSPs) to represent, sell, and service best-in-class products.
The need for convenient, secure IAM solutions has never been higher, with an increasing amount of critical business being done online or from remote locations. Trust in who has access to what is paramount to building trust both inside an organization and for customers. In particular, governments and financial institutions are targets for threat actors to attempt to gain access to protected data. The ability to safeguard these systems needs to be matched by the ability of a diverse range of employees across multiple locations. These new requirements in these industries have driven an unprecedented need for cybersecurity solutions like those offered by BIO-key.
"The partnership between BIO-key and 3Eye Technologies will be beneficial in reaching key markets like banking, financial, local government clients as well as other enterprises," said Fred Corsentino, Chief Revenue Officer at BIO-key. "This ability to target and foster these markets will be instrumental in proliferating BIO-key's innovative solutions across industries that need to secure essential data for their employees and customers alike."
BIO-key will utilize 3Eye Technologies' network of VARs and MSPs to expand the scope of its channel sales and marketing and increase market education for organizations about the benefits of IBB-based solutions. By partnering with 3Eye Technologies, BIO-key will grow its Channel Alliance Partner (CAP) program, expand the use of IBB and continue to be a thought leader in the cybersecurity space.
"We're excited to add BIO-key to our technology products and services portfolio because its solutions address several key security concerns that affect organizations across every field," stated Reid Estreicher, VP of Business Development, 3Eye Technologies. "Cybersecurity is obviously top of mind for every organization, and BIO-key's IAM solutions are some of the most flexible and diverse in the industry, allowing our sales team to 'tailor' authentication platforms for their customers. Another key driver inspiring our partnership is the growing cyber security insurance guidelines. These new guidelines require customers to deploy multi-factor authentication to maintain their cyber security insurance coverage, or they face either a loss of coverage or significant rate increases. BIO-key is a trusted leader in this area and will help us address the organic need within the market. BIO-key is the only IAM provider that offers Identity-Bound Biometrics, which are ideally suited for 3Eye Technologies' customers across multiple industries."
To learn more about BIO-key's solutions, visit the company website. To learn more about 3Eye Technologies, visit the company website.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and cloud-based Identity-as-a-Service (IDaaS) solutions, as well as customized enterprise solutions.
About 3Eye Technologies (www.3eyetech.com)
3Eye Technologies is a value-added distributor of mobility, security, and identity solutions, committed to helping our partners identify, configure, and deliver solutions that enable seamless and secure work, wherever work gets done.
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; 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, 2021 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.
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
BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-980
FAQ
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