Higher Education Institutions Continue to Select BIO-key's PortalGuard IDaaS Cloud-based Cybersecurity Solution

Rhea-AI Summary

BIO-key International, Inc. (NASDAQ: BKYI) announced four new Higher Education customer migrations to its PortalGuard IDaaS® cloud platform from on-premises PortalGuard deployments. The institutions migrating include Cerritos College, Coastal Carolina Community College, College of the Mainland, and Lassen Community College. This migration will eliminate hardware costs and improve identity and access management (IAM) efficiency. The company emphasizes the importance of this service as Higher Education institutions face increased cyber threats. Mark Cochran, President of BIO-key, highlighted the solution's flexibility, security, and cost-effectiveness for the institutions.

Positive

• Four new Higher Education institutions migrated to PortalGuard IDaaS, enhancing customer base.
• Migration to cloud eliminates hardware costs and improves IAM efficiency.
• PortalGuard IDaaS offers greater flexibility and security compared to competitors.

Negative

• None.

WALL, N.J., Jan. 30, 2023 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring Identity-Bound Biometrics (IBB), today announced four new Higher Education customer migrations to its PortalGuard IDaaS^® cloud platform from existing on-premises PortalGuard deployments.

The institutions include:

Cerritos College - Norwalk, CA
Coastal Carolina Community College - Jacksonville, NC
College of the Mainland - Texas City, TX
Lassen Community College - Susanville, CA

A migration from on-premises to PortalGuard IDaaS enables customers to eliminate the hardware costs and resources of on-premises hosting while providing easier IAM and a better user experience. Enabling all users to access resources with one identity quickly drives vital productivity benefits with less friction, better security, and greater access control.

Higher Education institutions are attractive, high-value targets for cybercriminals because they hold masses of sensitive data, which is increasingly being accessed remotely. This dynamic stresses budgets and forces IT teams to adopt a more dynamic security response to cyber threats. PortalGuard IDaaS delivers greater flexibility and security options than competitive solutions and provides enterprise-grade protection to safeguard applications and data from increasing threats.

"Colleges and Universities looking to improve their security posture and migrate their cybersecurity strategy to the cloud are increasingly choosing PortalGuard IDaaS," said Mark Cochran, President of BIO-key – PortalGuard. "Our robust PortalGuard IDaaS platform delivers secure, flexible, and cost-effective solutions to address these challenges. Our mission is to provide customers with a cost-effective IAM platform that improves processes and security and delivers functionality for an optimal end-user experience."

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.

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 and identity access management industries; 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:
Sarah Barsch
Matter Communications
BIO-key@matternow.com
914-260-3158

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

FAQ

What are the recent customer migrations by BIO-key International (BKYI)?

BIO-key announced the migration of four Higher Education institutions to its PortalGuard IDaaS cloud platform.

Why are Higher Education institutions migrating to PortalGuard IDaaS?

They aim to improve security, reduce hardware costs, and enhance identity and access management.

Who are the institutions migrating to PortalGuard IDaaS?

The institutions include Cerritos College, Coastal Carolina Community College, College of the Mainland, and Lassen Community College.

What benefits does PortalGuard IDaaS provide to Higher Education institutions?

It offers improved security, easier access management, reduced costs, and enhances user experience.