BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider
of workforce and customer identity and access management (IAM)
solutions for phoneless, tokenless, passwordless, and
phishing-resistant authentication experiences, today announced
that it was proud to be recognized in two Gartner reports in the
past twelve months. Both reports emphasize the importance of
adopting passwordless authentication to mitigate security risks. To
support organizations in their journey to passwordless, BIO-key has
introduced additional options with its MobileAuth™ offering,
demonstrating its commitment to secure and user-friendly
authentication solutions.
BIO-key’s MobileAuth biometric options include
PalmPositive™ and FacePositive™, which protect users from identity
fraud and unauthorized access. Once biometrics are registered, only
the authorized user can authenticate, significantly reducing the
risk of fraud. Unlike Apple Touch ID or Face ID, which allow
multiple users to register on a device, MobileAuth restricts access
to a single authorized user for apps managed by the PortalGuard
IDaaS solution. This ensures that no other users, “SIM-swappers,”
or hackers with phished credentials can gain access—only the
intended user can authenticate. BIO-key also supports
push-token and on-device biometrics for those users where
convenience is more important than security.
“This flexibility yet availability of more
secure options facilitates the adoption of more secure access
procedures by BIO-key’s customers,” says Galen Rodgers, VP of Sales
and Channel at BIO-key. “Every day, I talk to organizations
conflicted about making the right security decisions due to
pressure to drive productivity. But it is possible to deliver both
productivity and security with a flexible platform like BIO-key’s
PortalGuard with MobileAuth.”
As stated by Gartner, “IAM-focused security and
risk management leaders should choose biometric methods where the
benefits outweigh the risks and mitigation effort.” BIO-key is
recognized as a Representative Vendor for fingerprint biometrics
category in the 2023 Gartner Innovation Insight for Biometric
Authentication report.1
Gartner recommends that, “As an IAM architect
responsible for implementing user authentication, you should: Seek
meaningful change in users’ authentication experience by
prioritizing passwordless implementations for the broadest-impact
use cases first.” BIO-key is proud to be mentioned as an Example
vendor under the Biometric Authentication Vendors category in the
2024 Gartner How to Jump-Start Your Journey Toward Passwordless
Authentication report.2
BIO-key’s
PortalGuard® Identity-as-a-Service (IDaaS) platform aims to
provide an easy journey for many who have found it challenging to
start transitioning their users to more secure access best
practices. BIO-key supports 17 different authentication methods to
help customers standardize on one flexible, yet affordable IAM
platform that provides centralized authentication management while
integrating with key identity platforms like Cisco DUO, ForgeRock,
PING, and recently, Microsoft Entra ID.
“Whether customers need cloud or a path to
cloud, PortalGuard is available for on premise or hybrid
configurations to help companies start to manage identity in a way
that drives productivity without leaving businesses exposed to
phishing, fraud, MFA-bypass, and credential abuse,” says Michael
DePasquale, CEO of BIO-key. “We pride ourselves on being easy to
implement, user friendly, and delivering ROI back to the
organization in a shorter timeframe, on average in just 18 months,
two to three months less than the many leading MFA solutions.”
“We are excited to exhibit again in the 2024
Gartner IAM summit in Grapevine, Texas on December 9th-11th, and we
welcome the opportunity to speak with as many people as we can
about how easy the transition to passwordless security can be by
using our Passkey:YOU or biometric solutions for a passwordless
future.”
1 Gartner, Innovation Insight for Biometric Authentication, Ant
Allan, Robertson Pimentel, et al., 20 December 2023 (Report
accessible to Gartner subscribers only)2 Gartner, How to Jump-Start
Your Journey Toward Passwordless Authentication, Paul
Rabinovich, 1 November 2024 (Report accessible to Gartner
subscribers only)GARTNER is a registered trademark and service mark
of Gartner, Inc. and/or its affiliates in the U.S. and
internationally and is used herein with permission. All rights
reserved.Gartner does not endorse any vendor, product or service
depicted in its research publications, and does not advise
technology users to select only those vendors with the highest
ratings or other designation. Gartner research publications consist
of the opinions of Gartner’s research organization and should not
be construed as statements of fact. Gartner disclaims all
warranties, expressed or implied, with respect to this research,
including any warranties of merchantability or fitness for a
particular purpose.
Gartner Identity & Access Management
SummitGartner analysts will provide additional analysis on
identity and access technologies and strategies at the Gartner
Identity & Access Management Summit taking place December 9-11
in Grapevine. Follow news and updates from the conferences on X
using #GartnerIAM.
About BIO-key International,
Inc.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
StatementAll 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 to satisfy working capital needs; our ability to
continue as a going concern; 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 convert sales
opportunities to customer contracts; 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, the commercial, reputational and
regulatory risks to our business that may arise as a consequence
the restatement of our financial statements, including any
consequences of non-compliance with Securities and Exchange
Commission (“SEC”) and Nasdaq periodic reporting requirements; our
temporary loss of the use of a Registration Statement on Form S-3
to register securities in the future; any disruption to our
business that may occur on a longer-term basis should we be unable
to remediate during fiscal year 2024 certain material weaknesses in
our internal controls over financial reporting, 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 SEC. 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.
Engage with BIO-key |
LinkedIn – Corporate: |
https://www.linkedin.com/company/bio-key-international |
X – Corporate: |
@BIOkeyIntl |
X – Investors: |
@BIO_keyIR |
StockTwits: |
BIO_keyIR |
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BIO-key Resources:
https://www.bio-key.com/portalguard-2/
https://www.bio-key.com/mobileauth/
https://www.bio-key.com/microsoft-entra-id-support/
Investor ContactsWilliam Jones,
David CollinsCatalyst IRBKYI@catalyst-ir.com or 212-924-9800
BIO key (NASDAQ:BKYI)
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