Identity and Access Management Solutions Provider BIO-key Announces Expanded Partner-Centric Channel Alliance Program

Rhea-AI Summary

BIO-key International (NASDAQ: BKYI) announced an expansion of its Channel Alliance Partner (CAP) program, enhancing benefits for Managed Service Providers (MSPs) and others. This initiative aims to create new revenue opportunities through the PortalGuard IDaaS, a cloud-based authentication platform. The program focuses on key markets such as financial, government, and healthcare, leveraging biometric identity for secure access. BIO-key is committed to supporting partners with training and a direct touch model to ensure success.

Positive

• Expanded Channel Alliance Partner program for substantial revenue opportunities.
• Introduction of PortalGuard IDaaS improves partner offerings with biometric authentication.
• Focus on key markets (financial, government, healthcare) provides growth potential.
• Direct support model enhances partner training and onboarding process.

Negative

• None.

Enables MSPs, MSSPs, SIs and VARs to leverage additional benefits of PortalGuard IDaaS to create profitable customer relationships

WALL, N.J., Feb. 18, 2021 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced an expanded Channel Alliance Partner (CAP) program designed to significantly broaden its global partner ecosystem and provide substantial new revenue opportunities for BIO-key partners. Originally launched in 2019, this expanded CAP program enables Managed Service Providers (MSPs), Managed Security Service Providers (MSSPs), system integrators and value-added resellers to take advantage of BIO-key’s flexible IAM solutions, including PortalGuard® IDaaS or Identity-as-a-Service, to create profitable customer relationships, cement themselves as trusted cybersecurity advisors, and drive recurring revenue for their businesses.

With the addition of PortalGuard IDaaS, a subscription-based cloud authentication platform, BIO-key partners can deliver the combined benefits of biometric identity with highly flexible options for single sign-on (SSO), multi-factor authentication, self-service password reset and more. All of these features are easily configured to support any IAM strategy for securing customer and workforce access. Furthermore, BIO-key’s solutions integrate easily with other bundled technology solutions, making them a simple and cost-effective option for partner sales.

BIO-key’s expanded CAP program underscores the company’s continuing partner-centric commitment to ensuring its channel’s success. BIO-key invests significant time to ensure partners are fully trained on the technology and identifying prospective customers. BIO-key’s direct touch model assigns a solution architect to every partner to ensure they are fully onboarded and familiar with BIO-key’s products and solutions. Its sales team works closely with partners on deals to ensure end-users get the customized IAM technology solutions they need.

While BIO-key is focused on expanding its partner network, the company maintains a keen focus on existing partner relationships. Partners such as NGEN, Cybercore, Insight, SHI, Ingram, and D&H continue to produce ongoing revenue opportunities. Newly engaged partners including V-Cloud Tech, it1, Hemaya, and Sonda are identifying joint opportunities as they launch introductory marketing campaigns.

“We’ve added BIO-key to our partner network to address the enterprise market’s demand for a secure and trusted identity and access solution. One of the capabilities that stood out about BIO-key is their biometric authentication technology which allows us to address our customers growing interest in using their biometrics for multi-factor authentication,” said Zim Jackson, Sr. Partner Programs Manager, it1.

“We have ambitious plans for BIO-key’s CAP program this year,” said Fred Corsentino, BIO-key’s Chief Revenue Officer. “Our goal is to grow our partner sales exponentially and ultimately become the best channel company in our markets by working closely with our partners to fully understand what their customers want and need. We’ll work closely with them to help them deliver our flexible identity and access management solutions effectively so that they stand out against their competition.”

BIO-key aims to expand its CAP program in North America, APAC (Singapore, Hong Kong and Australia) and Africa. The partner program will focus on key markets including financial, government and healthcare centers, which benefit significantly from the expertise of MSPs and solution integrators. BIO-key’s technology is advantageous in these markets due to regulation and security concerns. By partnering BIO-key's PortalGuard multi-factor authentication and SSO with its core identity technology, these end-customers will have access to flexible technology with industry-leading biometrics, with a partner-centric approach to business, all at an affordable cost.

For more information about PortalGuard IDaaS, visit the BIO-key website.

About BIO-key International, Inc.
BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications, and high-value transactions. BIO-key’s proprietary software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud 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, 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, 2019, and other filings with the Securities and Exchange Commission.

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

Media Contacts
Matter for BIO-key
Erin Knapp
BIO-key@matternow.com

Investor Relations Contacts
William Jones & David Collins
Catalyst IR, 212-924-9800
bkyi@catalyst-ir.com

 

FAQ

What is the purpose of BIO-key's expanded CAP program announced on February 18, 2021?

The expanded CAP program aims to broaden BIO-key's global partner ecosystem and provide new revenue opportunities through its PortalGuard IDaaS.

Which markets is BIO-key focusing on with its expanded partner program?

BIO-key is focusing on key markets including financial, government, and healthcare sectors.

How does PortalGuard IDaaS benefit BIO-key's partners?

PortalGuard IDaaS offers biometric identity solutions, enabling partners to provide secure access and drive recurring revenue.

What companies are currently engaged in partnerships with BIO-key?

Current partners include NGEN, Cybercore, Insight, SHI, Ingram, and D&H, among others.

What are the goals for BIO-key's partner sales in 2021?

BIO-key aims to grow its partner sales exponentially and become the best channel company in its markets by working closely with partners.