BIO-Key Responds to the Cry for Secure Authentication with New Passwordless Options at the 2024 Gartner® Identity & Access Management Summit: North America
BIO-key International (NASDAQ: BKYI) announces its recognition in two Gartner reports highlighting passwordless authentication. The company introduces enhanced MobileAuth options featuring PalmPositive and FacePositive biometric authentication solutions to combat identity fraud. Unlike Apple's biometric systems, MobileAuth restricts access to a single authorized user for apps managed by PortalGuard IDaaS.
The company's PortalGuard Identity-as-a-Service platform supports 17 authentication methods and integrates with major identity platforms like Cisco DUO, ForgeRock, PING, and Microsoft Entra ID. BIO-key claims their solution delivers ROI in approximately 18 months, faster than competing MFA solutions. The company is showcasing these solutions at the 2024 Gartner IAM summit in Grapevine, Texas.
BIO-key International (NASDAQ: BKYI) annuncia il suo riconoscimento in due rapporti di Gartner che evidenziano l'autenticazione senza password. L'azienda introduce opzioni migliorate di MobileAuth con soluzioni di autenticazione biometrica PalmPositive e FacePositive per combattere la frode identitaria. A differenza dei sistemi biometrici di Apple, MobileAuth limita l'accesso a un singolo utente autorizzato per le app gestite da PortalGuard IDaaS.
La piattaforma PortalGuard Identity-as-a-Service dell'azienda supporta 17 metodi di autenticazione e si integra con le principali piattaforme di identità come Cisco DUO, ForgeRock, PING e Microsoft Entra ID. BIO-key afferma che la sua soluzione offre un ritorno sugli investimenti in circa 18 mesi, più velocemente delle soluzioni MFA concorrenti. L'azienda sta presentando queste soluzioni al summit Gartner IAM 2024 a Grapevine, Texas.
BIO-key International (NASDAQ: BKYI) anuncia su reconocimiento en dos informes de Gartner que destacan la autenticación sin contraseña. La compañía presenta opciones mejoradas de MobileAuth que cuentan con soluciones de autenticación biométrica PalmPositive y FacePositive para combatir el fraude de identidad. A diferencia de los sistemas biométricos de Apple, MobileAuth restringe el acceso a un solo usuario autorizado para las aplicaciones gestionadas por PortalGuard IDaaS.
La plataforma PortalGuard Identity-as-a-Service de la empresa admite 17 métodos de autenticación e integra con las principales plataformas de identidad como Cisco DUO, ForgeRock, PING y Microsoft Entra ID. BIO-key afirma que su solución proporciona un retorno de inversión en aproximadamente 18 meses, más rápido que las soluciones MFA competidoras. La compañía está mostrando estas soluciones en la cumbre de Gartner IAM 2024 en Grapevine, Texas.
BIO-key International (NASDAQ: BKYI)는 비밀번호 없는 인증을 강조한 두 개의 가트너 보고서에서 그 인정을 발표했습니다. 이 회사는 신원 사기를 방지하기 위해 MobileAuth 옵션을 개선하여 PalmPositive 및 FacePositive 생체 인증 솔루션을 도입합니다. Apple의 생체 인식 시스템과 달리, MobileAuth는 PortalGuard IDaaS에서 관리되는 응용 프로그램에 대해 단일 인증 사용자로의 접근을 제한합니다.
회사의 PortalGuard Identity-as-a-Service 플랫폼는 17개의 인증 방법을 지원하며 Cisco DUO, ForgeRock, PING 및 Microsoft Entra ID와 같은 주요 식별 플랫폼과 통합됩니다. BIO-key는 자사의 솔루션이 경쟁 MFA 솔루션보다 약 18개월 내에 ROI를 제공한다고 주장합니다. 이 회사는 텍사스 주 그래프바인의 2024 Gartner IAM 정상 회담에서 이러한 솔루션을 선보이고 있습니다.
BIO-key International (NASDAQ: BKYI) annonce sa reconnaissance dans deux rapports Gartner soulignant l'authentification sans mot de passe. La société présente des options MobileAuth améliorées avec les solutions d'authentification biométrique PalmPositive et FacePositive pour lutter contre la fraude d'identité. Contrairement aux systèmes biométriques d'Apple, MobileAuth limite l'accès à un seul utilisateur autorisé pour les applications gérées par PortalGuard IDaaS.
La plateforme PortalGuard Identity-as-a-Service de l'entreprise prend en charge 17 méthodes d'authentification et s'intègre aux principales plateformes d'identité telles que Cisco DUO, ForgeRock, PING et Microsoft Entra ID. BIO-key prétend que sa solution offre un retour sur investissement d'environ 18 mois, plus rapidement que les solutions MFA concurrentes. L'entreprise présente ces solutions au sommet Gartner IAM 2024 à Grapevine, au Texas.
BIO-key International (NASDAQ: BKYI) gibt seine Anerkennung in zwei Gartner-Berichten bekannt, die die passwortlose Authentifizierung hervorheben. Das Unternehmen führt verbesserte MobileAuth Optionen mit den biometrischen Authentifizierungslösungen PalmPositive und FacePositive ein, um Identitätsbetrug zu bekämpfen. Im Gegensatz zu Apples biometrischen Systemen beschränkt MobileAuth den Zugriff auf einen einzigen autorisierten Benutzer für von PortalGuard IDaaS verwaltete Apps.
Die PortalGuard Identity-as-a-Service Plattform des Unternehmens unterstützt 17 Authentifizierungsmethoden und integriert sich mit wichtigen Identitätsplattformen wie Cisco DUO, ForgeRock, PING und Microsoft Entra ID. BIO-key behauptet, dass ihre Lösung innerhalb von etwa 18 Monaten eine Rentabilität erzielt, schneller als konkurrierende MFA-Lösungen. Das Unternehmen stellt diese Lösungen auf dem Gartner IAM Gipfel 2024 in Grapevine, Texas, vor.
- Recognition in two Gartner reports strengthens market position
- Integration with major platforms (Cisco DUO, ForgeRock, PING, Microsoft Entra ID)
- Faster ROI delivery (18 months) compared to competing solutions
- Comprehensive authentication offering with 17 different methods
- None.
BIO-key mentioned in two Gartner reports for passwordless and biometric authentication
HOLMDEL, N.J., Dec. 09, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions for phoneless, tokenless, passwordless, and phishing-resistant authentication experiences, today announced that it was proud to be recognized in two Gartner reports in the past twelve months. Both reports emphasize the importance of adopting passwordless authentication to mitigate security risks. To support organizations in their journey to passwordless, BIO-key has introduced additional options with its MobileAuth™ offering, demonstrating its commitment to secure and user-friendly authentication solutions.
BIO-key’s MobileAuth biometric options include PalmPositive™ and FacePositive™, which protect users from identity fraud and unauthorized access. Once biometrics are registered, only the authorized user can authenticate, significantly reducing the risk of fraud. Unlike Apple Touch ID or Face ID, which allow multiple users to register on a device, MobileAuth restricts access to a single authorized user for apps managed by the PortalGuard IDaaS solution. This ensures that no other users, “SIM-swappers,” or hackers with phished credentials can gain access—only the intended user can authenticate. BIO-key also supports push-token and on-device biometrics for those users where convenience is more important than security.
“This flexibility yet availability of more secure options facilitates the adoption of more secure access procedures by BIO-key’s customers,” says Galen Rodgers, VP of Sales and Channel at BIO-key. “Every day, I talk to organizations conflicted about making the right security decisions due to pressure to drive productivity. But it is possible to deliver both productivity and security with a flexible platform like BIO-key’s PortalGuard with MobileAuth.”
As stated by Gartner, “IAM-focused security and risk management leaders should choose biometric methods where the benefits outweigh the risks and mitigation effort.” BIO-key is recognized as a Representative Vendor for fingerprint biometrics category in the 2023 Gartner Innovation Insight for Biometric Authentication report.1
Gartner recommends that, “As an IAM architect responsible for implementing user authentication, you should: Seek meaningful change in users’ authentication experience by prioritizing passwordless implementations for the broadest-impact use cases first.” BIO-key is proud to be mentioned as an Example vendor under the Biometric Authentication Vendors category in the 2024 Gartner How to Jump-Start Your Journey Toward Passwordless Authentication report.2
BIO-key’s PortalGuard® Identity-as-a-Service (IDaaS) platform aims to provide an easy journey for many who have found it challenging to start transitioning their users to more secure access best practices. BIO-key supports 17 different authentication methods to help customers standardize on one flexible, yet affordable IAM platform that provides centralized authentication management while integrating with key identity platforms like Cisco DUO, ForgeRock, PING, and recently, Microsoft Entra ID.
“Whether customers need cloud or a path to cloud, PortalGuard is available for on premise or hybrid configurations to help companies start to manage identity in a way that drives productivity without leaving businesses exposed to phishing, fraud, MFA-bypass, and credential abuse,” says Michael DePasquale, CEO of BIO-key. “We pride ourselves on being easy to implement, user friendly, and delivering ROI back to the organization in a shorter timeframe, on average in just 18 months, two to three months less than the many leading MFA solutions.”
“We are excited to exhibit again in the 2024 Gartner IAM summit in Grapevine, Texas on December 9th-11th, and we welcome the opportunity to speak with as many people as we can about how easy the transition to passwordless security can be by using our Passkey:YOU or biometric solutions for a passwordless future.”
1 Gartner, Innovation Insight for Biometric Authentication, Ant Allan, Robertson Pimentel, et al., 20 December 2023 (Report accessible to Gartner subscribers only)
2 Gartner, How to Jump-Start Your Journey Toward Passwordless Authentication, Paul Rabinovich, 1 November 2024 (Report accessible to Gartner subscribers only)
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Gartner Identity & Access Management Summit
Gartner analysts will provide additional analysis on identity and access technologies and strategies at the Gartner Identity & Access Management Summit taking place December 9-11 in Grapevine. Follow news and updates from the conferences on X using #GartnerIAM.
About BIO-key International, Inc.
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 to satisfy working capital needs; our ability to continue as a going concern; 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 convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; delays in the development of products, the commercial, reputational and regulatory risks to our business that may arise as a consequence the restatement of our financial statements, including any consequences of non-compliance with Securities and Exchange Commission (“SEC”) and Nasdaq periodic reporting requirements; our temporary loss of the use of a Registration Statement on Form S-3 to register securities in the future; any disruption to our business that may occur on a longer-term basis should we be unable to remediate during fiscal year 2024 certain material weaknesses in our internal controls over financial reporting, and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. 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, we undertake no obligation to disclose any revision to these forward-looking statements, whether as a result of new information, future events, or otherwise.
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BIO-key Resources:
https://www.bio-key.com/portalguard-2/
https://www.bio-key.com/mobileauth/
https://www.bio-key.com/microsoft-entra-id-support/
Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com or 212-924-9800
FAQ
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