WALL, NJ, June 8, 2022 (GLOBE NEWSWIRE) – BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) and biometric identity-related solutions (IBB), today announced that its BIO-key PortalGuard® platform won the 2022nd Fortress Cyber Security Awards in the Authentication and Identity. The awards program sought to identify and reward the world’s leading companies and products working to protect our data and electronic assets among the growing threat from hackers.
The global community of cybersecurity experts, technology developers and governments is taking proactive steps to prevent attacks and preventative measures to stay one step ahead so that responses can be quick and effective. With evidence that multifactor authentication has the ability to prevent as much as 80-90% of cyber attacks, one of the most important steps organizations can take is to implement an authentication and identity strategy.
For several reasons, BIO-key PortalGuard® stands out for its ability to help organizations implement a complete IAM strategy. It is the only IAM platform to offer biometric authentication related to identity (IBB) as part of its multifactor authentication capabilities, which verifies a person – not just a password, token or device. It offers unparalleled flexibility to support solution consolidation and / or aggregation within a single set of centrally managed security policies and encourages better user adoption. PortalGuard also has competitive pricing, offering all platform capabilities often at 50-60% below the competition, and is supported by a team of IAM experts, who are easily accessible and act as an extension of users ’IT team, improving their cyber security position quickly.
“Traditional authentication methods, based on something the user knows or has, have been hacked,” said Michael DePasquale, president and CEO of BIO-key. “We are honored that PortalGuard is recognized for its ability not only to control access, but more importantly for its ability to offer true biometric authentication, a better way to authenticate, at a time when it is needed more than ever.”
The Fortress Cyber Security Awards program highlights, discusses, and rewards creative thinking, engineering, people, and projects that take on the growing threat of cybercrime for the benefit of the global community.
“We are so proud to be able to name BIO-key PortalGuard as the winner of the 2022 Fortress Cyber Security Awards,” said Maria Jimenez, Director of Nominations, Business Intelligence Group. “As our society continues to grow and become more and more reliant on networks and data, companies like BIO-key are key to providing the protection and trust that consumers demand.”
The BIO-key PortalGuard offers an unparalleled variety of choices for multifactor authentication (MFA), single sign-on (SSO), self-service password reset (SSPR) and identity biometrics and is well suited for everyday use including remote workforce, third party access, IAM user (CIAM) and password-free workflows. For more than 20 years, PortalGuard has been trusted by clients from several industries, including education, healthcare, manufacturing, finance and government, to reduce password calls by up to 95%, eliminate passwords, secure remote access, prevent phishing attacks, fill cybersecurity requirements and improve the productivity of any IT team.
For information on the BIO key, visit the company’s website. For information on the annual Fortress Cyber Security Awards, visit the Awards website.
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key has more than two decades of expertise in providing authentication technology to thousands of organizations and millions of users and is revolutionizing authentication with a biometric, multifactor identity and access management (IAM) solution, including its PortalGuard IAM solution, providing convenient and secure access to devices, information , high-value applications and transactions. BIO-key patented software and hardware solutions, with industry-leading biometric capabilities, enable large local solutions and cloud-based Identity-as-a-Service (IDaaS) solutions, as well as customized enterprise solutions.
About Business Intelligence Group (www.bintelligence.com)
Business Intelligence Group was founded with the mission of recognizing true talent and excellence in the business world. Unlike other awards programs in the industry, these programs are evaluated by business executives who have experience and knowledge. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and rewards those companies whose achievements are above those of their counterparts.
BIO-key Safe Harbor statement
All statements contained in this press release, except for statements of historical facts, are “forward-looking statements” as defined in the Private Securities Reform Act 1995 (the “Act”). The words “assessment”, “project”, “intends”, “expects”, “expects”, “believes” and similar expressions are intended to identify statements relating to the future. Such forward-looking statements are based on management’s assurances, assumptions and information currently available to management in accordance with the provisions of the Safe Harbor Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that could cause actual results to differ materially from those included or implied in such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenues; 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; market changes; continuous services of our executive management team; security breaches; competition in the biometric technology industry; acceptance of biometric products in general and our developing products; the duration and severity of the current COVID-19 coronavirus pandemic and its impact on our business, sales cycles, staff and geographic markets in which we operate; product development delays and statements of assumptions underlying any of the above as well as other factors listed under the heading, see “Risk Factors” in our Annual Report on Form 10-K for the year ended 31 December 2021 and others submissions with the Securities and Exchange Commission. Readers are warned not to rely too heavily on these forward-looking statements, which speak only from the date of giving. Except in accordance with the law, the Company undertakes no obligation to disclose any revision of these forward-looking statements, whether as a result of new information, future events or otherwise. In addition, there may be other factors that the Company is not currently aware of that may affect the issues discussed in future statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the outbreak of coronavirus on economic opportunities and industry in general, and especially on the financial position and business results of our Company were material, changing rapidly and cannot be predicted.
Connect with the BIO key
Facebook – corporate: https://www.facebook.com/BIOkeyInternational/
LinkedIn – corporate: https://www.linkedin.com/company/bio-key-international
Twitter – corporate: @BIOkeyIntl
Twitter – Investors: @BIO_keyIR
StockTwits: BIO_keyIR
Media contact
Erin Knapp
A thing in the name of the BIO-key
BIO-Key@matternow.com
Investor contacts
William Jones, David Collins
IR catalyst
BKYI@catalyst-ir.com
1-212-924-9800
Contact for Business Intelligence Group
Maria Jimenez
Chief Nomination Officer
Business Intelligence Group
contact@fortresswards.com
1-909-529-2737
Comments are closed.