Welcome to our dedicated page for BIO-key International news (Ticker: BKYI), a resource for investors and traders seeking the latest updates and insights on BIO-key International stock.
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 receiving a Notification Letter from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1), due to the failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The company filed a Notification of Late Filing on March 31, 2023, citing the need for more time to compile necessary financial information. The Notification Letter allows the company 60 days to submit a plan for compliance, potentially extending the deadline to October 16, 2023. The company's common stock remains listed on the Nasdaq Capital Market. BIO-key emphasizes its commitment to filing the Form 10-K as soon as possible to regain compliance.
BIO-key International (NASDAQ: BKYI) has announced the migration of three customers from on-premises deployments of PortalGuard to its PortalGuard IDaaS cloud platform. The new customers include Leon County Supervisor of Elections, Unity College, and Rockford University. This transition aims to enhance IT infrastructure by modernizing operations, increasing efficiency, and reducing costs while securing applications from cyber threats. The growing demand for cloud solutions highlights the need for better security in remote work environments. Mark Cochran, President of BIO-key, emphasized the advantages of cloud migration, including agility, scalability, and cost-effectiveness in managing IT resources.
BIO-key International (NASDAQ: BKYI) announced that Dayton Children's Hospital will expand its investment in biometric authentication by adding the PortalGuard IDaaS platform. This upgrade facilitates the migration from Epic Systems' legacy Hyperspace application to the new Hyperdrive interface, enhancing security and user experience without requiring re-enrollment. The migration is part of a deadline for all Epic customers to transition by November 2023. BIO-key's PortalGuard supports multiple authentication methods, enabling a streamlined login experience. The company has been a trusted partner of Dayton Children's since 2011, ensuring compliance with DEA regulations while providing a user-friendly solution.
FAQ
What is the current stock price of BIO-key International (BKYI)?
What is the market cap of BIO-key International (BKYI)?
What does BIO-key International, Inc. do?
When was BIO-key International, Inc. established?
Who are BIO-key's customers?
What are some popular products offered by BIO-key?
What is the 'Biometric of Things' (BoT) initiative?
How does BIO-key generate revenue?
What is the Humanity Protocol?
Who are BIO-key’s strategic partners?
Where can BIO-key products be purchased?
What type of biometric technology does BIO-key specialize in?
