VANCOUVER, British Columbia and HOLMDEL, N.J., Sept. 23, 2024 (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) for phoneless, tokenless, passwordless and phish-resistant authentication experiences, announced that its long-time customer, the province of British Columbia, has placed new orders with BIO-key. 10,000 users will be added to their existing deployment of WEB-key software, integrated with Broadcom’s SiteMinder infrastructure to streamline and strengthen access to a series of new applications via SAML 2.0 federation standards.
BIO-key has worked closely with the province’s cybersecurity team to integrate BIO-key’s state-of-the-art, cloud-enabled biometric authentication platform with its existing authentication infrastructure to deliver advanced and secure biometric access to systems, applications and facilities across the organization.
Since 2012, BIO-key’s secure biometric authentication platform has been integrated with the province’s authentication infrastructure to provide the strongest biometric ID without requiring phones or tokens. In 2017, the province expanded the platform to incorporate physical access control using the same fingerprint biometric for door access. This differentiated approach delivers secure sign in and streamlined access to facilities for users who roam among different workstations and locations without requiring added costs and risks of “what-you-have” token and card solutions that only verify that the card or token is present, not the user. BIO-key credentials derive from the individual themselves, so access cannot be shared, delegated, phished or forgotten.
Jim Sullivan, BIO-key’s SVP Strategy and Chief Legal Officer, said, “The British Columbia government has been a leader in providing secure biometric authentication with BIO-key solutions for more than a decade. They recognize that unique ‘roving user’ scenarios call for uncompromising yet user-friendly security. We are pleased to be the trusted provider of the highest level of security, by ensuring only the right user accesses the most sensitive information. BIO-key has a long history providing highly secure, robust and cost-efficient solutions in government, defense, finance, retail and other highly-regulated industries. Today, we are finding that BIO-key’s superior user experience, through phoneless, tokenless and passwordless solutions, translates very well to many enterprise use cases, particularly where we bring multi-factor authentication to roving workforces.”
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.
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 industry; market acceptance of biometric products generally and our products under development; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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 “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 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, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.
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Investor Contacts
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
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