BIO-key and BeyondTrust Announce Integrated Partnership to Offer Identity-Bound Biometrics to Enhance Security for Privileged Remote Access

WALL, N.J., March 14, 2023 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI) an innovative provider of Identity and Access Management (IAM) solutions featuring Identity-Bound Biometrics (IBB), today announced the integration of their PortalGuard^� Identity-as-a-Service (IDaaS) platform with BeyondTrust, a worldwide leader in intelligent identity and access security. This partnership and technology integration expands the presence of both companies in the partner ecosystem, provides enhanced security for privileged remote access and delivers a new level of confidence for customers that only authorized users are accessing critical systems, data, and applications.

Remote access pathways are targets for cyber attackers, who use them to compromise data and attain unauthorized access to IT networks. Weak authentication methods, such as improperly managed passwords, security questions that can be easily guessed by hackers, phone-based methods, and security tokens are unable to positively identify the person requesting access. Secure access is a critical need for the permanently expanded remote workforce, especially for individuals with heightened privileges, and it is crucial to take an identity-centric approach using Identity-Bound Biometrics to achieve Zero Trust.

BIO-key’s PortalGuard, integrated with BeyondTrust’s Privileged Remote Access solution that controls, manages, and audits the access of privileged employees, vendors, developers, and cloud ops engineers, now offers BeyondTrust customers a wide range of flexible authentication options, including Identity-Bound Biometrics (IBB). IBB authentication methods that use a unique biometric to identify the person and cannot be handed over, shared, stolen, or forged, make it much more difficult for unauthorized users to gain access to critical systems and data. Offering a convenient user experience will also simplify the login process for users, as they don’t need to remember complex passwords, carry phones or physical tokens, and will be able to choose methods that are most convenient for them.

“The BeyondTrust Technology Alliance Program enables integrations with BeyondTrust Privileged Access Management (PAM) solutions so that customers can maximize the value of their IT security investments,” said David Manks, VP Strategic Alliances of BeyondTrust. “We are pleased to add BIO-key to our program.”

The partnership further builds BIO-key’s integrations into the ecosystem of leading providers of IAM, PAM and Identity Governance and Administration (IGA) solutions, as enterprises look to achieve a holistic identity-first and zero trust strategy. BIO-key’s solutions address critical authentication gaps by introducing Identity-Bound Biometric methods to expand the security and convenience of efficient access to critical systems, data, and applications from anywhere, at any time.

“The integration between BIO-key’s PortalGuard platform and BeyondTrust’s Privileged Remote Access solution will provide customers with a new level of confidence that only authorized remote users are gaining access,” said Galen Rodgers, Vice President of Channel for BIO-key International. “Combining the ability to positively identify the person requesting access using BIO-key’s Identity-Bound Biometrics with BeyondTrust’s ability to manage and audit remote access, customers experience the benefits of greater risk reduction and a comprehensive PAM solution that is designed to meet the needs of a modern organization.”

Visit BIO-key’s website to find out more about their Identity-Bound Biometrics and multi-factor authentication solutions for securing remote access.

About BIO-key International, Inc. (www.BIO-key.com)
BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key’s patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and cloud-based Identity-as-a-Service (IDaaS) solutions, as well as customized enterprise 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; the duration and severity of the current coronavirus COVID-19 pandemic and its effect on our business operations, sales cycles, personnel, and the geographic markets in which we operate; 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 see “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 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, the Company undertakes no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise. Additionally, there may be other factors of which the Company is not currently aware that may affect matters discussed in forward-looking statements and may also cause actual results to differ materially from those discussed. In particular, the consequences of the coronavirus outbreak to economic conditions and the industry in general and the financial position and operating results of our Company, in particular, have been material, are changing rapidly, and cannot be predicted.

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