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BIO-key International, Inc. (OTCQB: BKYI) is a leading provider of biometric software and hardware authentication solutions for enterprises and consumers alike. Established in 1993, BIO-key has become a trusted name, servicing diverse sectors including Fortune 500 companies, government agencies, healthcare organizations, call centers, schools, retailers, and OEM partners.
BIO-key's product portfolio includes advanced fingerprint biometric identification and identity verification technologies, with popular offerings such as SideSwipe, SidePass, EcoID, and WEB-key. The company's innovative solutions ensure secure and seamless access management, making them a preferred choice for high-security requirements.
In 2016, BIO-key introduced a series of compact fingerprint readers designed for compatibility with Windows Hello. These readers are not only affordable but also easy to install and use, available through major retailers like Amazon, Microsoft, and Dell.com. The company further expanded its consumer reach by launching a series of biometric padlocks at the Consumer Electronics Show in 2017. Their product, TouchLock, received significant acclaim, being featured on over 30 morning television shows.
BIO-key continues to innovate with its 'Biometric of Things' (BoT) initiative, aiming to create a range of biometrically enabled, consumer-friendly products. The company’s focus on the power of a touch drives their mission to enhance security and user experience across various applications.
Financially, BIO-key generates revenue through services, license fees, and other streams. The company remains committed to partnerships and collaborations that expand their market presence and technological capabilities.
One notable partnership is with Humanity International Investments, under the chairmanship of His Highness, Sheikh Marwan bin Mohamed bin Rashid Al Maktoum. This strategic collaboration has led to the launch of the Humanity Protocol, a blockchain-based economic empowerment initiative. The project leverages BIO-key’s biometric palm scan technology to authenticate identities, enabling individuals, particularly in Africa, to claim their digital footprint through Non-Fungible Tokens (NFTs). With over 15,000 palm scans and plans to verify more users, the initiative marks a significant step forward in integrating biometric technology with blockchain for identity verification.
Overall, BIO-key International, Inc. is at the forefront of revolutionizing digital identity and access management, ensuring secure, user-friendly authentication solutions for millions worldwide.
BIO-key International, Inc. (NASDAQ: BKYI) announced a conference call to discuss its Q3 results on November 15, 2022, at 10 a.m. ET. This call will follow the pre-market release of the quarterly results. Key executives, including Chairman & CEO Mike DePasquale and CFO Cecilia Welch, will lead the discussion. Investors can join via dial-in or an online webcast, which will be available for replay for three months. BIO-key emphasizes its expertise in identity and access management solutions, highlighting its patented software and cloud solutions.
BIO-key International, Inc. (BKYI) announced its expanding footprint of the PortalGuard Identity-as-a-Service (IDaaS) within the California Community College System. Notably, Santa Rosa Junior College, with around 20,000 students, is migrating to the PortalGuard IDaaS cloud solution, allowing efficient use of IT budgets by eliminating on-premises hosting costs. This IAM platform enhances security for educational institutions facing significant cyber threats, especially amid remote learning growth. BIO-key aims to support colleges in mitigating cybersecurity risks and streamlining operations.
BIO-key International will showcase its Identity and Access Management (IAM) and Identity-Bound Biometric (IBB) solutions at the EDUCAUSE Annual Conference from October 25-28 in Denver, Colorado, at Booth 871. The company emphasizes its award-winning PortalGuard IAM platform, used by over 200 educational institutions, featuring advanced multi-factor authentication, single sign-on, and password reset capabilities. As cyberattacks in the education sector have surged by 44% over 2021, BIO-key aims to support institutions in enhancing their cybersecurity strategies.
BIO-key International, Inc. (NASDAQ: BKYI) announced that six county governments across Kansas, Virginia, New Mexico, Florida, South Dakota, and New York have adopted its PortalGuard IDaaS platform to enhance data security and compliance amidst increasing ransomware threats. The company collaborates with the National Association of Counties to address cybersecurity challenges and promote flexible multi-factor authentication and Identity-Bound Biometrics. BIO-key's solutions, including PIV-Pro fingerprint readers and the MobileAuth app, offer robust security for county systems and data.
BIO-key International (NASDAQ: BKYI) has been selected by a large auto group in the Southwestern US to implement its PortalGuard® IDaaS platform. This decision supports compliance with the FTC's Safeguards Rule aimed at protecting consumer financial data. The PortalGuard platform enhances security through multi-factor authentication (MFA), improving user satisfaction by reducing password fatigue. This collaboration highlights BIO-key's role in providing effective identity and access management (IAM) solutions for compliance and security across various industries.
BIO-key International (NASDAQ: BKYI) has won the Access Management Solution of the Year award for its PortalGuard® platform at the 2022 CyberSecurity Breakthrough Awards. This recognition marks the second consecutive year for BIO-key. The awards program received over 4,100 nominations globally, highlighting the industry's innovation in information security. PortalGuard offers unique Identity-Bound Biometric authentication methods, enhancing security and user experience. This platform is trusted across various sectors, including healthcare and finance, improving access management effectiveness.
BIO-key International (NASDAQ: BKYI) will showcase its Identity Access Management (IAM) and Identity-Bound Biometric (IBB) solutions at the Identity Week America 2022 Conference in Washington, DC, on October 4-5. Attendees can see BIO-key's PortalGuard IAM platform and the MobileAuth app, which integrates various biometric methods for enhanced security. CEO Michael DePasquale emphasizes the importance of establishing trust in digital transactions. Additionally, new features include facial recognition and enhanced device-based biometric options, supporting broader use cases.
BIO-key International, Inc. (NASDAQ: BKYI) will showcase its Identity and Access Management (IAM) solutions at the 2022 ScanSource Channel Connect from October 2–5 in Nashville, TN. As the exclusive IAM provider for Intelisys, BIO-key aims to strengthen partnerships and highlight revenue opportunities through its innovative offerings, including the PortalGuard IAM platform and MobileAuth multi-factor authentication app. The IAM market is projected to grow at a 14.5% CAGR, reaching over $34 billion by 2028, presenting significant opportunities for BIO-key's partner network.
BIO-key International (BKYI) recently announced the deployment of its AuthControl Sentry to a leading Dutch multinational in the furniture sector. This solution enhances secure single sign-on (SSO) access for suppliers to vital enterprise applications. Incorporating multifactor authentication, it allows users to choose from various authentication methods based on risk. Currently in Phase 1, the rollout aims to extend across the Company's global operations, improving supply chain logistics and efficiency. The deployment underscores BIO-key's commitment to enhancing access security for its clients.
BIO-key International, Inc. (BKYI) has announced a strategic distribution partnership with Multipoint GROUP, aimed at enhancing its presence in Southern and Central Europe and the Middle East. This collaboration will allow Multipoint to provide distribution, pre-sales analysis, training, and full support for BIO-key's Identity and Access Management (IAM) solutions, including biometric authentication technologies. Multipoint operates in 15 countries, expanding BIO-key's market reach and reinforcing its Channel Alliance Partner program, which is focused on delivering robust security solutions worldwide.
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