BROOKVILLE, NY and WALL, NJ, July 21, 2022 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions integrating identity-linked biometrics (IBB), announced today Today Long Island University (LIU), a private university with approximately 15,000 students and two campus elementary schools, LIU Post and LIU Brooklyn in New York State, re-selected its PortalGuard IAM platform to re-protect its corporate applications and data. The new agreement extends a customer relationship that BIO-key has had with LIU since 2015.
Breaches and cyberattacks against higher education institutions have increased significantly over the past year and pose a serious financial and reputational risk to these institutions. To ward off these cyber threats, institutions need a robust and proven IAM solution that can successfully and cost-effectively adapt to varying security access requirements. LIU continues to leverage the BIO-key PortalGuard IAM platform to strengthen its overall security to effectively respond to these evolving cyber threats while reducing costs and associated burden for its information technology team. A key point for LIU was PortalGuard’s ability to support an integrated security system and allow the institution to leverage previous investments in other security solutions and provide best-in-class technical capabilities, such as multi-factor authentication (MFA), single sign-on (SSO) and self-service password reset (SSPR) to its user community.
“We are excited to expand our relationship with LIU and offer an integrated security approach to protect the institution,” said Mark Cochran, President of BIO-key – PortalGuard. “Many higher education institutions need to expand their security footprint without increasing net security costs. Institutions are looking for solutions that keep faculty, staff and students safe while reducing business disruption while reducing simultaneously the number of external vendors they have to juggle. We excel in providing security solutions with a tangible return on investment for our customers.”
About BIO-key International, Inc. (www.BIO-key.com)
BIO-key has over two decades of expertise in delivering authentication technologies for thousands of organizations and millions of users and is revolutionizing authentication with multi-factor Identity and Access Management (IAM) solutions focused on biometrics, including its PortalGuard IAM solution that provides security and secure access to high-value devices, information, applications and transactions. BIO-key’s patented software and hardware solutions with state-of-the-art biometric capabilities enable on-premises and cloud-based identity-as-a-service (IDaaS) solutions at scale, as well as customized enterprise solutions .
BIO-key Safe Harbor Statement
All statements in this press release other than statements of historical fact are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate”, “project”, “intend”, “expect”, “anticipate”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are made on the basis of management’s beliefs, as well as assumptions made by management and information currently available to it, in accordance with 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 in or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, our limited loss and revenue history; our ability to raise additional capital; our ability to protect our intellectual property; changes in trading conditions; changes in our sales strategy and product development plans; market changes; the continued services of our senior management team; security failures; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, people and the geographic markets in which we operate; delays in product development and statements of assumptions underlying any of the above and other factors set forth under “Risk Factors” in our Annual Report on Form 10-K for year ended December 31, 2021 and other documents filed 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, the Company undertakes no obligation to disclose any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise. In addition, there may be other factors not currently known to the Company which may affect the matters addressed in the forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak on economic conditions and the industry generally and on the financial condition and results of operations of our company, in particular, have been significant, rapidly changing and cannot be predicted. .
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