BIO-key PortalGuard IDaaS Wins �Identity Management Solution of the Year�

Annual RemoteTech Breakthrough Awards Program Recognizes Innovation in the Global Remote Technology Industry

WALL, N.J., June 24, 2021 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions featuring Identity-Bound Biometrics, today announced its PortalGuard^� Identity-as-a-Service (IDaaS) platform has been selected as the winner of the “Identity Management Solution of the Year” award in the 2021 RemoteTech Breakthrough Awards conducted by RemoteTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout technology companies, products, and services empowering remote work and distributed teams around the globe.

PortalGuard IDaaS provides a hosted unified Identity and Access Management (IAM) platform that offers an unmatched variety of choices for workforce and customer multi-factor authentication (MFA), including exclusive Identity-Bound Biometrics, single sign-on (SSO), and self-service password reset to support an enterprise’s present and future IAM strategies while delivering a superior user experience. For over 20 years, PortalGuard’s on-premise solution has been trusted by customers across multiple industries, including education, healthcare, manufacturing, finance, and government. As a result of this strong track record and IDaaS’ simplified deployment, PortalGuard IDaaS has experienced rapid growth from new and existing customers looking to improve their security posture and migrate their IAM strategy to the cloud.

With PortalGuard IDaaS, customers can consolidate their IAM solutions, eliminate passwords, simplify access for users, and reduce overhead for the IT team. PortalGuard is the only cloud-based IAM solution with fully integrated Identity-Bound Biometrics™, including palm scanning using BIO-key’s MobileAuth™ with PalmPositive™ mobile app, which offers the highest levels of identity integrity, availability, security, and accuracy for MFA and passwordless workflows. When securing remote access for employees, supply chain, and customers, positively identifying an individual with certainty during the authentication process is essential. With Identity Bound Biometrics, PortalGuard offers a different, more certain method of authentication that also eliminates the inconvenience, security risks, and costs of traditional authentication methods.

Offering the broadest range of flexible MFA and SSO options, BIO-key PortalGuard supports 16+ authentication methods, major federation and SSO standards as well as contextual authentication, empowering the IT Administrator to decide which methods work best to support their security policies and access scenarios, and making it easy for customers to protect on-premises, legacy, thick client, and web applications from a single comprehensive Identity Provider (IdP).

“Whether you’re looking for passwordless workflows, support for your Zero Trust architecture, or just implementing MFA for the first time, PortalGuard can easily secure access for all users whether they are remote or on-premises,” said Michael DePasquale, Chairman and CEO of BIO-key International. “As the only IDaaS platform offering Identity Bound-Biometrics and the highest level of flexibility, customers choose PortalGuard for its ability to address all use cases and requirements of their IAM strategy. We are so thrilled and honored to be recognized by RemoteTech Breakthrough for all the thought and innovations we have put into PortalGuard over the past decade for our customers.”

The mission of the annual RemoteTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions, and products in the remote technology industry today. This year’s program attracted more than 1,450 nominations from over 15 different countries throughout the world.

“The shift to remote work due to the pandemic and the hyper expansion of online services for customers has driven organizations to rethink how they secure remote access and modernize their IAM strategy,” said Bryan Vaughn, Managing Director of RemoteTech Breakthrough Awards. “IAM is essential. BIO-key International’s PortalGuard provides companies with the solutions they need to respond to an unrelenting threat landscape – especially over the past year. Congratulations for being our choice for the ‘Identity Management Solution of the Year’ award. Your work has never been more important.”

To learn more about BIO-key PortalGuard IDaaS please visit BIO-key’s website.

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. 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 Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.

About RemoteTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the RemoteTech Breakthrough Awards program is devoted to honoring excellence in technologies, services, companies and products that empower remote work and distributed teams around the globe. The RemoteTech Breakthrough Awards program provides a forum for public recognition around the achievements of technology companies and solutions in categories including messaging & communication, project management, virtual events, team collaboration, virtual offices, collaborative design and more. For more information visit RemoteTechBreakthrough.com.

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; 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, 2020 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

BIO-key Media Contact:
Erin Knapp
Matter Communications
BIO-key@matternow.com
914-260-3158

Investor Contacts:
William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com
212-924-9800

A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8eb7db90-175a-48cf-8bc4-6ce542be7964