BANGOR, Maine and WALL, N.J., June 20, 2023 (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), announced that Quirk Auto Group, with 19 locations in Maine, has selected BIO-key’s PortalGuard® IDaaS platform to address updated requirements dictated by the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule, designed to protect the personal data of consumers.
The Federal Trade Commission recently made important changes to the Safeguards Rule, bringing the GLBA in line with much more stringent security frameworks. BIO-key’s PortalGuard platform supports these updated rules with a modern approach for securing access to systems and data through its IBB, multi-factor authentication (MFA), and industry-standard SAML Identity Provider (IdP) capabilities. One of the key project outcomes was identity and access management security and integration with the enterprise application Reynolds and Reynolds for enhanced corporate and consumer data protection. The PortalGuard platform provided an additional benefit for Quirk Auto Group by enabling it to consolidate IAM technologies and vendors, improving the user login experience while simultaneously increasing its overall cybersecurity capabilities.
"Properly managing identity and access is a critical component of good cybersecurity. The piece that’s easy to overlook is consolidating security tools to improve your security posture," said Mark Cochran, President of BIO-key – PortalGuard. "As organizations scale and/or have new compliance requirements to address, they often pick up additional solutions to address their needs. Suddenly, their original security solution is a tangle of overlapping policies, vendors, and authentication methods – unnecessarily reducing end-user satisfaction and burdening the IT team. Consolidating solutions is the best way to present a simple and complete solution that makes users happy while maintaining the robust security your organization will depend on for years to come. This is the essence of what we deliver with PortalGuard."
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 managing millions of users. Its cloud-based PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading Identity-Bound Biometric (IBB) capabilities, enable large-scale Identity-as-a-Service (IDaaS) solutions, as well as customized on-premises solutions.
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, 2022 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.
Engage with 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 | |
Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800
