Fargo, ND and Junction City, KS Choose BIO-key PortalGuard For Secure Access via Biometric Authentication
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Insights
With the integration of BIO-key's PortalGuard and Identity Bound Biometric (IBB) authentication in Fargo and Junction City, there's a notable advancement in municipal cybersecurity. This shift is significant as it underscores a broader trend within government entities to prioritize robust security measures that are also user-centric. Biometric authentication represents a formidable barrier against unauthorized access, leveraging unique physiological traits to enhance security protocols.
From a cybersecurity standpoint, the move away from traditional authentication methods, such as passwords and tokens, to biometric data is a strategic response to the escalating threat landscape. Phishing, one of the most common attack vectors, can be effectively mitigated by biometric systems, which are inherently resistant to such social engineering tactics. This transition not only fortifies the integrity of municipal data but also contributes to operational continuity by reducing the risk of system breaches and the resulting downtime.
The adoption of BIO-key's technology by municipalities represents a strategic investment with potential long-term cost savings. The avoidance of hardware tokens and access cards, as well as the non-reliance on personal phones for authentication, can lead to significant reductions in operational expenses. For investors, this adoption can signal a growing market for BIO-key's products, potentially improving the company's financial outlook.
Furthermore, the scalability and flexibility of biometric solutions could result in broader market applications, thereby opening new revenue streams for BIO-key. The competitive total cost of ownership (TCO) associated with BIO-key's solutions is likely to appeal to budget-conscious government entities, which could drive further adoption and increase the company's market share in the identity access management space.
The utilization of advanced biometric authentication technology by municipalities like Fargo and Junction City is a clear indicator of the public sector's commitment to digital transformation. This approach not only strengthens cybersecurity but also aligns with the public administration's mandate to enhance service delivery while being fiscally responsible.
By streamlining authentication processes and improving workflow efficiency, municipalities are likely to see an increase in productivity. For citizens, this translates to quicker and more reliable access to municipal services, fostering greater public trust in digital infrastructure. The long-term implications include potential re-allocation of budgetary savings towards other community benefits, which could further enhance the quality of public services and citizen satisfaction.
Expect lower costs and superior user experience with biometrics
HOLMDEL, N.J., Jan. 11, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of passwordless, phoneless, and token-less Identity and Access Management (IAM) Multifactor Authentication (MFA) solutions, announced that Fargo, North Dakota and Junction City, Kansas are the latest municipalities to select BIO-key PortalGuard and its phoneless and tokenless Identity Bound Biometric (IBB) authentication options to add phish-resistance, enhance information security and streamline workflows while saving taxpayers money. A growing number of U.S. and global government entities have adopted BIO-key’s biometric authentication solutions to benefit from its unique combination of the highest-level of security, a superior end-user experience, greater flexibility, workflow efficiency, and competitive total cost of ownership. These new deployments reflect the cities’ commitment to safeguard the integrity and confidentiality of municipal data with state-of-the-art security solutions, while also fostering efficiency with a streamlined user-friendly experience.
BIO-key’s NIST- and independent lab-tested biometric security technology measures and compares unique biometric characteristics of users to verify and authenticate them, eliminating the need to carry phones or per-user tokens in order to access systems and get things done. Implementing biometric authentication in Fargo and Junction City ensures a more robust and reliable defense against unauthorized access to the cities’ systems. By relying on unique biological traits for authentication instead of passwords and other knowledge factors, municipalities can thwart common phishing threats and enhance the overall resilience and availability of their information systems.
Beyond a superior user experience and better resiliency to phishing and social engineering attacks, customers save money by choosing BIO-key PortalGuard’s biometric factors. BIO-key enables users to be their own authentication credential for sign in and account recovery, instead of requiring their employers to provision security tokens to each and every user or to require (and potentially, to reimburse) for personal phone use. The result is decreased reliance on costly physical identification factors such as hardware tokens, access cards, or users’ phones. Municipalities can re-allocate these long-term savings to optimize their budgets for the benefit of their community.
"The growing adoption of biometric authentication by U.S. municipalities reflects a continuing shift towards a more efficient, cost-effective, and user-friendly approach to securely authenticating to municipal digital services," said Mark Cochran, President of BIO-key’s PortalGuard division. "By embracing BIO-key’s advanced biometric security measures, forward-looking cities raise the ceiling on what their IAM systems can accommodate for users and use cases. We are glad to help Fargo and Junction City to enhance their security posture against cyber threats and contribute to the broader goal of safeguarding public trust in the digital age.”
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 thirty-five 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 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, 2022 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, 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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Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com or 212-924-9800
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