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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 (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.
BIO-key International (NASDAQ: BKYI) has announced an expansion of its biometric multi-factor authentication (MFA) solution for election workers in a West Coast state. This initiative aims to secure voter registration data statewide, building on previous deployments in various states. The solution includes BIO-key's biometric software and FIPS compliant fingerprint scanners to enhance election security. The rollout will allow access to a centralized voter registration system via Citrix, ensuring strong user identity verification against current threats.
BIO-key International (NASDAQ: BKYI) announced a partnership with Appsian to enhance ERP system security through its PortalGuard solution. This partnership aims to deliver robust identity and access management (IAM) solutions, catering to businesses needing improved ERP security. BIO-key will also present at the PeopleSoft Innovation Summit on February 17, 2021, targeting organizations looking for secure access solutions for legacy ERP systems. This collaboration underscores the importance of frictionless user experience combined with strong security measures.
BIO-key International (NASDAQ: BKYI) announced that Southeastern Illinois College has chosen its PortalGuard® IDaaS platform for enhanced access management. The cloud-based solution aims to provide users with a seamless experience across devices while integrating with vital institutional applications like Jenzabar and Canvas. BIO-key emphasizes that the cloud platform enhances flexibility, scalability, and security, addressing rising cybersecurity concerns in higher education.
BIO-key International (NASDAQ: BKYI) has announced a partnership with NGEN LLC, a recognized managed service provider. This collaboration has already secured a new customer for BIO-key's PortalGuard Identity-as-a-Service (IDaaS) platform through the Maryland Education Enterprise Consortium contract. The initiative aims to enhance online security and user experience for over 14,000 users at a higher education institution by implementing advanced identity access management practices, includingmulti-factor authentication and Single Sign-On.
BIO-key International (NASDAQ: BKYI) reported a significant shift towards its PortalGuard® Identity-as-a-Service (IDaaS) solution as existing customers transition from on-premises deployments. In Q4 2020, nine customers migrated to IDaaS, impacting approximately 115,000 users. The growing demand for cloud-based security and easier IT management positions PortalGuard favorably against traditional solutions. The company sees potential to convert over 200 additional existing customers to IDaaS, highlighting a promising growth trajectory in 2021 and beyond.
BIO-key International (NASDAQ: BKYI) announced its PortalGuard IAM solution is now utilized by a division of the US Department of Justice, enhancing secure authentication for systems access. This multi-factor solution aims to improve security while reducing user friction and help desk costs. The announcement highlights BIO-key's commitment to supporting national security programs and its experience with law enforcement agencies facing evolving threats.
BIO-key International, Inc. (NASDAQ: BKYI) announced the expansion of its PortalGuard identity and access management solution for GATX Corporation, specifically for its Rail Europe operations. With a shift to remote work due to COVID-19, GATX faced increasing Help Desk costs and security challenges. PortalGuard aims to enhance password management, improve user experience, and reduce IT costs. Mark Cochran, President of BIO-key, emphasized the solution's balance of security and usability, highlighting the ongoing need for effective cybersecurity measures in remote environments.
BIO-key International (BKYI) will participate in the LD Micro Virtual Main Event 2020 Investor Conference on December 15, 2020. Chairman and CEO Mike DePasquale is scheduled to present at 3:20 PM ET, followed by a Q&A session. The event, taking place on December 14-15, features over 200 small and micro-cap companies and aims to provide a more engaging experience for attendees. For more details or to register, visit the LD Micro website.
BIO-key International (NASDAQ: BKYI) announced the launch of PortalGuard IDaaS, a secure, scalable identity-as-a-service platform. This cloud-based service utilizes biometrics and offers a flexible approach to identity and access management (IAM). The solution has already processed millions of authentication transactions, aiming to enhance security in work-from-anywhere scenarios. Gartner predicts a significant growth in IAM SaaS usage, driven by the pandemic. CEO Michael DePasquale emphasized that this launch reflects BIO-key's commitment to innovation and flexibility in IAM solutions.
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