BIO-key�s Cloud-Hosted PortalGuard� Identity-as-a-Service Platform Named �Identity Management Solution of the Year� by Research Firm RemoteTech Breakthrough

WALL, N.J., June 23, 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^� Identity-as-a-Service (IDaaS) platform has won the “Identity Management Solution of the Year” award in the 2022 RemoteTech Breakthrough Awards conducted by RemoteTech Breakthrough, for the second consecutive year. This acknowledgement adds to a growing list of industry awards the platform has earned. RemoteTech Breakthrough is 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.

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 1,700 nominations from over 15 different countries.

In the wake of the pandemic, many organizations plan to maintain a fully remote or hybrid work environment, however they struggle to secure remote access and know exactly who is gaining access to their systems, applications, and data.

“Many of the multi-factor authentication (MFA) methods organizations are using to authenticate remote employees, suppliers, and customers are based on something the user knows, such as a password, or something the user has, such as their phone. These approaches leave the door wide open for common authentication hacks where credentials are shared, stolen, forgotten, or lost,” said Bryan Vaughn, Managing Director of RemoteTech Breakthrough Awards. “We selected PortalGuard as ‘Identity Management Solution of the Year’ for how easily it helps customers secure access for both the workforce and customers while also giving organizations peace of mind that they know who is gaining access regardless of their location.”

When securing remote access for employees, supply chain, and customers, positively identifying the individual with certainty during the authentication process is essential. BIO-key PortalGuard IDaaS provides a hosted, unified IAM platform that offers the widest range of options for single sign-on, self-service password reset, and multi-factor authentication, with BIO-key’s proprietary offering of Identity-Bound Biometrics that utilize a centralized unique biometric identity to verify a person anywhere. Customers using PortalGuard’s IBB authentication methods, including fingerprint scanning and palm scanning via BIO-key’s MFA mobile app, MobileAuth™, can eliminate the inconvenience, security risks, and costs of traditional authentication methods to effectively secure remote access.

“We are thrilled and honored to again be recognized by RemoteTech Breakthrough for our innovations and unique ability to secure remote access,” said Michael DePasquale, Chairman and CEO of BIO-key International. “The increase in global demand for remote access has amplified the shortcomings of many IAM solutions unable to go beyond passwords and devices to verify the person behind every authentication. In contrast, PortalGuard offers customers the flexibility to utilize a range of factors, including Identity-Bound Biometrics, to secure access for all their users and address their core IAM requirements.”

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%, eliminate passwords, prevent phishing attacks, meet cyber insurance requirements, and improve productivity for the IT team.

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, 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 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; 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