BIO-key has been recognized by CIOReview Magazine as the recipient of “Top 20 Banking Technology Solution Companies - 2019,” based on our proprietary methodology, reflecting its position in the industry. This profile has been developed by the CIOReview research and editorial team based on insights from an interview with Michael W. DePasquale, Chairman & CEO.

BIO-key
Safeguarding Valuable Assets under a Lock and “BIO-key”

Michael W. DePasquale, Chairman & CEO

Striking the right balance between convenience and security proves to be a benchmark of success for today’s banking organizations that are heavily weighted toward customers. However, a majority of the organizations still follow traditional ways of securing the assets involving ID cards, PIN numbers or use a common login credential for all their assets. As cybercriminals have become more sophisticated and insidious, it is evident that setting passwords are no longer a solid, viable option to secure information. While organizations in the financial industry look for better ways to secure end-user identities, BIO-key emerged as a boon for them with its robust authentication solutions powered by biometric technology.

The company offers an extensive range of authentication products including fingerprint scanner, multifactor authentication, administrative tools, identity and access management (IAM) platforms and more. “Our forte lies in offering secure, customizable, and user-friendly authentication solutions for all industries at an affordable price,” states Michael W. DePasquale, chairman and CEO of BIO-key.

Especially in the banking and financial space, securing online access to files, apps, and customer records is critical. With the help of BIO-key’s biometric authentication solutions customers are able to reduce the risk of fraud and successfully monitor user activity. Equipped with a set of biometric fingerprint authentication tools, BIO-key ensures that only the authorized individuals have access to classified information and conducts a complete audit trail to track and trace ‘who, when, and how’ the data was accessed.

What makes BIO-key second to none is their core solutions that include a three-tiered security infrastructure with high levels of security and encryption—WEB-key, the multi-factor authentication solution and ID Director for Windows. “Our solutions offer great administrative configurability and high-end security along with multiple forms of authentication that can be integrated into the customer’s existing infrastructure such as the Microsoft Active Directory,” says DePasquale.

BIO-key’s ID Directory solution enables immediate sign-in to the customer’s Windows application with the convenience of one-touch instant access, in addition to raising the bar on security.

Our solutions offer high-end security along with multiple forms of authentication and can be integrated into the customer’s existing infrastructure such as the Microsoft Active Directory

The sophisticated biometric authentication engine— WEB-key supports conventional authentication methods such as pin numbers, tokens, cards, and passwords using challenge-response questions, making it an ideal multi-factor authentication solution.

One of the highlights of BIO-key is their quality-based fingerprint scanners. Their fingerprint scanning hardware solutions include portable mobile devices such as SidePass, SideSwipe, SideTouch, and EcoID, which can be configured to the user’s desktop computers, laptops, and tablets. From installation to ongoing support, BIO-key provides complete maintenance along with the product’s sale to ensure that the system is operable and addresses the client’s issues, questions, or concerns.

Behind the success of BIO-key’s authentication solutions is their diligent development team who has been with the organization well over 15 years. “With the help of such a team, we have built solid, mature products that are deployed in almost every sector in the economy. This massive traction is due to the sophisticated level of security, convenience in integration, and ease of utilization,” remarks DePasquale. BIO-key’s expanding list of eminent clients includes telecommunication companies, hospitals such as the Cleveland Clinic, Nationwide Children’s Hospital, and several government entities.

The upcoming months will see BIO-key leverage more of authentication technology as well as grow and scale their business through their solutions and the references that they have built. Besides developing their core business, the company envisions extending their sales capabilities through partnerships with other authentication providers who do not provide solutions with biometrics. BIO-key is also working on a fingerprint-based SAML authentication solution and plans to introduce the product in the market later this year.

BIO-key

BIO-key Partners with Europe’s Bravantic Group to Offer Transformative Identity Access Management Solutions in Europe, Africa, Brazil, and the Middle East

Wednesday, February 15, 2023

WALL, N.J. and LISBON, Portugal, -BIO-key International, Inc. announced a strategic distribution partnership with Bravantic Group to bring its solutions to customers in Southern Europe, Africa, Brazil and the Middle East. Bravantic Group, which has over 2,500 customers and revenues of $100 million, joins BIO-key’s global Channel Alliance Partner (CAP) program.

Bravantic Group has a strong presence in Portugal, the United Kingdom, Angola, Mozambique, Cape Verde, Brazil, Abu Dhabi, and Dubai. Over the last 26 years they have worked with major hardware and software manufacturers to offer a wide range of information technology and security solutions and services across a variety of industries and enterprises.

BIO-key continues to expand its footprint in high growth international markets by offering its leading identity solutions through key strategic partners like Bravantic. The CAP program makes it easy for partners to drive revenue via BIO-key’s full line of solutions and multifactor authentication options, including the award-winning PortalGuard® platform and hardware solutions including fingerprint scanners, which support Identity-Bound Biometric authentication and FIDO-key® security keys.

“Together Bravantic and BIO-key believe this partnership will deliver technological vitality to our stakeholders, through innovative and transformative cybersecurity solutions,” said Miguel Gomes, VP of Bravantic.

José Francês, BIO-key’s VP of Sales for Africa, Europe, and Brazil said, “We are pleased to welcome Bravantic as a prominent Value-Added Reseller to bring BIO-key’s industry-leading security solutions to bolster security and sustainability options across all of the group’s channels.”

Identity and Access Management Solutions Provider BIO-key to Participate in Fireside Chat at the Maxim Group Virtual Tech Conference, Tues. June 4th at 9:00am ET

Thursday, June 06, 2024

NEW YORK and HOLMDEL, N.J.-- BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) and Identity-Bound Biometric (IBB) solutions will participate in the 2024 Virtual Tech Conference Series, presented by Maxim Group LLC and hosted by M-Vest June 4th-5th. BIO-key’s CEO Mike DePasquale will join a Fireside chat with Maxim on Tuesday, June 4th from 9:00 to 9:30 a.m. ET.

The conference, including panel discussions and fireside chats will be hosted live on M-Vest. Visit: https://m-vest.com/events/tmt-06042024 to sign-in or sign up to become an M-Vest member and access the event. Investors can submit questions to the moderator throughout the panel, as well as request management meetings.

The continuous evolution of technology is paving the way for innovations across all industries. In this conference Maxim will explore how emerging growth companies are leveraging new technologies such as Artificial Intelligence (AI) to position themselves for the future. Senior analysts will facilitate engaging dialogues with CEOs and key management of companies who have their attention on technology and how it will impact and grow their business.

Maxim Group LLC is a leading full-service investment bank, securities and wealth management firm headquartered in New York. Maxim provides a full array of financial services to a diverse range of corporate clients, institutional investors and high net worth individuals.

BIO-key International Enters into $1.9 Million Warrant Inducement

Thursday, September 26, 2024

HOLMDEL, N.J -- 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, today announced it has entered into a warrant inducement agreement with an existing institutional investor for the immediate exercise of certain outstanding warrants that the Company issued on October 30, 2023. Pursuant to the warrant inducement agreement, the investor has agreed to exercise outstanding warrants to purchase an aggregate of 1,030,556 shares of the Company's common stock at an amended exercise price of $1.85. The gross proceeds from the exercise of the warrants are expected to be approximately $1.9 million, prior to deducting placement agent fees and estimated offering expenses.

The closing of the warrant exercise transactions is expected to occur on or about September 13, 2024, subject to satisfaction of customary closing conditions.

Maxim Group LLC is acting as the exclusive Placement Agent for the transaction.

In consideration for the immediate exercise of the warrants, the Company also agreed to issue to the investor unregistered Series A Warrants to purchase an aggregate of 1,030,556 shares of the Company's common stock and Series B Warrants to purchase an aggregate of 1,030,556 shares of the Company's common stock, each with an exercise price of $1.85 per share (the “New Warrants”). The Series A and Series B warrants share substantially the same terms, are immediately exercisable and will expire five years from the date of issuance. The Company has agreed to file a registration statement within forty five (45) days with the Securities and Exchange Commission (“SEC”) covering the resale of the shares of common stock issuable upon exercise of the New Warrants. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Top 20 Banking Technology Solution Companies - 2019

Company
BIO-key

Management
Michael W. DePasquale, Chairman & CEO

Description
BIO-key is recognized as a leading developer of fingerprint biometric authentication and security solutions. The company constantly strives to identify new use cases for their fingerprint biometric technology. BIO-key's solutions turn fingerprints into an authentication key, providing secure and convenient sign-in to websites, files, and applications. BIO-key’s core software engine is built on a fingerprint authentication platform that supports other traditional forms of authentication including, passwords, PINs, tokens, proximity cards, and knowledge-based challenge response questions. BIO-key's software operates on multiple platforms and supports their compact fingerprint scanners and many of the most popular fingerprint scanners in the market today

BIO-key Safeguarding Valuable Assets under a Lock and “BIO-key”