BIO-key PortalGuard Platform Wins 2022 �Access Management Solution of the Year�

Cybersecurity Breakthrough Awards Recognize Outstanding Information Security Products & Companies

WALL, N.J., Oct. 06, 2022 (GLOBE NEWSWIRE) — BIO-key� International, Inc. (NASDAQ: BKYI), an innovative provider of Identity and Access Management (IAM) and Identity-Bound Biometric (IBB) solutions, today announced its PortalGuard® platform has been selected as the winner of the “Access Management Solution of the Year” award in the sixth annual, 2022 CyberSecurity Breakthrough Awards conducted by CyberSecurity Breakthrough, for the second consecutive year. This acknowledgement adds to a growing list of industry awards the platform has earned. CyberSecurity Breakthrough is a leading independent market intelligence organization that recognizes the top companies, technologies, and products in the global information security market today.

The mission of the CyberSecurity Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success across a range of information security categories. This year’s program attracted more than 4,100 nominations from over 20 different countries throughout the world.

“Access management is all about flexibility and being able to balance both security and convenience. A complete solution needs not only to secure access, but also needs to ensure that it provides a streamlined and usable access experience for customers, employees, and suppliers,” said James Johnson, Managing Director, CyberSecurity Breakthrough. “With Identity-Bound Biometrics, BIO-key PortalGuard offers a “breakthrough” identity security that can work for all scenarios that users may find themselves in when trying to gain access to systems, applications, devices, and data. Congratulations on being our choice for ‘Access Management Solution of the Year.’”

PortalGuard is the only IAM platform on the market offering Identity-Bound Biometric authentication methods that use a unique, centralized biometric identity to verify the person completing the action. This means that trust can be established that the person is the correct person, not just their device, password, or token. Importantly, Identity-Bound Biometrics are impervious to common attacks as they cannot be stolen, lost, handed over, forgotten, or forged.

BIO-key PortalGuard provides a single, unified IAM platform that offers more flexible options for multi-factor authentication (MFA), single sign-on (SSO), and self-service password reset (SSPR) than any other access management solution, to support a customers’ security initiatives and deliver an optimized user experience. PortalGuard consolidates and aggregates multiple point solutions under centralized security policies so that customers can take a holistic approach to their access management strategy.

“We are deeply honored to again be recognized by CyberSecurity Breakthrough for our innovations in access management,” said Michael DePasquale, Chairman and CEO of BIO-key. “When it comes to MFA, many access management solutions are unable to support all the requirements that users have for the various access scenarios across the business. The methods they offer are only able to verify something the user knows or has. The individual, the most important part of access, is taken out of the equation altogether. Biometrics are continuing to grow in popularity as fast, convenient, and secure methods of authentication. We feel that Identity-Bound Biometrics are a must-have to complete an MFA strategy for unique workflows, such as shared workstations, roaming users, and remote access – where it is essential to verify the person and/or where no other methods will work.”

PortalGuard supports multiple Identity-Bound Biometric methods, including fingerprint, palm and face scanning, using the one-of-a-kind MFA mobile app, BIO-key MobileAuth™ that brings the power of Identity-Bound Biometrics to any mobile device. For over 20 years, PortalGuard has been trusted by customers across multiple industries, including education, healthcare, manufacturing, finance, and government, to secure remote access, reduce password-related help desk calls by up to 95%, reduce or eliminate passwords, prevent phishing attacks, meet cyber insurance requirements, and improve productivity for the IT team.

To learn more about BIO-key PortalGuard and Identity-Bound Biometrics 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, 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.

About CyberSecurity Breakthrough (www.CyberSecurityBreakthrough.com)
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the CyberSecurity Breakthrough Awards program is devoted to honoring excellence in information security and cybersecurity technology companies, products and people. The CyberSecurity Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough information security companies and products in categories including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, Web and Email Security, UTM, Firewall and more.

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.

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Media Contact
Erin Knapp
Matter on behalf of BIO-key
BIO-Key@matternow.com  

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

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