BIO-key’s PortalGuard Identity and Access Management Solution and Identity-Bound Biometrics Are Now Available on the Amazon Web Services (AWS) Marketplace

Rhea-AI Summary

BIO-key International, Inc. (NASDAQ: BKYI) has announced the availability of its PortalGuard IDaaS platform on the Amazon Web Services (AWS) Marketplace. This strategic move allows AWS customers worldwide to easily purchase and integrate PortalGuard and its Identity-Bound Biometrics (IBB) authentication solutions into their enterprise systems.

The AWS Marketplace partnership significantly expands BIO-key's reach, offering its cutting-edge authentication security solutions to a broader customer base. With 2.5 million subscribers and over 300,000 active customers, the AWS Marketplace provides a streamlined process for implementing robust Identity & Access Management and IBB security, supporting digital transformation initiatives.

This collaboration aims to simplify the integration process for enterprises seeking advanced security measures to protect digital assets and enhance user authentication cost-effectively. BIO-key's presence on the AWS Marketplace aligns with its mission to provide world-class, flexible, and secure access management and biometric identity solutions globally.

Positive

• Expanded market reach through AWS Marketplace with 2.5 million subscribers and 300,000 active customers
• Simplified purchase and integration process for BIO-key's PortalGuard and IBB solutions
• Potential for increased sales and customer base through AWS partnership

Negative

• None.

Insights

Tech Expert

BIO-key's move to list PortalGuard and Identity-Bound Biometrics (IBB) on AWS Marketplace is a strategic expansion of their distribution channels. This integration could potentially accelerate adoption of their IAM solutions, given AWS Marketplace's vast customer base of over 300,000 active users.

The passwordless, phoneless and tokenless nature of BIO-key's IBB authentication aligns well with the growing trend towards more secure and user-friendly access management solutions. This could be particularly appealing to enterprises looking to enhance their security posture while simplifying user experience.

However, the competitive landscape in the IAM market is fierce, with many established players already present on AWS Marketplace. BIO-key will need to differentiate its offerings effectively to stand out. The success of this move will largely depend on how well BIO-key can leverage AWS's ecosystem to drive visibility and conversions.

Market Research Analyst

The IAM market is experiencing robust growth, with a projected CAGR of 13.7% from 2021 to 2026. BIO-key's presence on AWS Marketplace positions them to tap into this expanding market more effectively. The streamlined purchasing process through AWS could potentially lower barriers to adoption for BIO-key's solutions.

However, it's important to note that while this move enhances visibility, it doesn't guarantee increased sales. The success will depend on BIO-key's ability to compete on features, pricing and integration capabilities with other IAM solutions available on the platform. The company will need to invest in marketing efforts within the AWS ecosystem to stand out among the myriad of options available to customers.

This partnership could potentially impact BIO-key's revenue model, as AWS Marketplace typically takes a cut of sales. Investors should monitor how this affects the company's margins in future financial reports.

HOLMDEL, N.J. , Aug. 15, 2024 (GLOBE NEWSWIRE) -- BIO-key^® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) software featuring passwordless, phoneless and token-less Identity-Bound Biometrics (IBB) authentication solutions, announced the availability of its PortalGuard IDaaS platform in the Amazon Web Services (AWS) Marketplace enabling AWS customers around the world to seamlessly purchase and integrate PortalGuard and its IBB authentication solutions into their enterprise. The AWS Marketplace partnership expands the visibility and reach of BIO-key’s cutting-edge authentication security solutions to a broader range of customer prospects.

The AWS Marketplace is a curated digital catalog with 2.5 million subscribers and over 300,000 active customers who can find, test, buy, and deploy software solutions designed to run on AWS. By listing its solutions on this platform, BIO-key aims to simplify the integration process for enterprises seeking advanced security measures to protect their digital assets and enhance user authentication cost-effectively. Effective identity management is crucial for running secure and efficient cloud operations, enabling seamless access for employees while maintaining control over sensitive data. With the new enablement through AWS, global BIO-key prospects can now seamlessly purchase PortalGuard directly from the AWS Marketplace. This streamlined process enables AWS customers to effortlessly implement robust Identity & Access Management and IBB security, enhancing their digital transformation initiatives.

"BIO-key’s core mission is to provide world-class, flexible, secure access management, and biometric identity solutions to organizations globally. By collaborating with AWS, we enable organizations to gain streamlined access to our top-tier technologies, helping them to address complex challenges with enhanced security and compliance,” said Michael DePasquale, Chairman and CEO, BIO-key International, Inc.

To learn more about BIO-key in AWS Marketplace, visit: https://aws.amazon.com/marketplace/pp/prodview-px343thbnhuig

About BIO-key International, Inc. (www.BIO-key.com)

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 cloud-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.

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

Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com or 212-924-9800

FAQ

What products has BIO-key International (BKYI) made available on the AWS Marketplace?

BIO-key has made its PortalGuard IDaaS platform and Identity-Bound Biometrics (IBB) authentication solutions available on the AWS Marketplace.

How does the AWS Marketplace listing benefit BIO-key International (BKYI)?

The AWS Marketplace listing expands BIO-key's visibility and reach to a broader range of customer prospects, with access to 2.5 million subscribers and over 300,000 active customers.

What is the significance of BIO-key's (BKYI) partnership with AWS Marketplace announced on August 15, 2024?

The partnership allows AWS customers worldwide to seamlessly purchase and integrate BIO-key's PortalGuard and IBB solutions, potentially increasing BIO-key's sales and customer base while simplifying the implementation process for enterprises seeking advanced security measures.

How does BIO-key's (BKYI) availability on AWS Marketplace align with its company mission?

The AWS Marketplace availability aligns with BIO-key's mission to provide world-class, flexible, secure access management, and biometric identity solutions to organizations globally, enabling streamlined access to their top-tier technologies.