On-Premises Customers Continue to Migrate to BIO-key�s Cloud-Based�PortalGuard Identity-as-a-Service Authentication Solution

WALL, N.J., April 24, 2023 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring Identity-Bound Biometrics (IBB), today announced that three additional customers have elected to migrate current on-premises deployments of PortalGuard^� to the PortalGuard IDaaS^® cloud platform. The latest PortalGuard IDaaS migration customers are:

Leon County Supervisor of Elections – Tallahassee, Florida
Unity College – New Gloucester, Maine
Rockford University – Rockford, Illinois

Migrating to the PortalGuard IDaaS enterprise security platform allows BIO-key’s customers to modernize their IT infrastructure according to best practices, consolidate and centralize operations, and distribute access to cloud services as needed, thus increasing efficiency and lowering total cost of ownership, while protecting applications from cyberattacks.

Potential security breaches, remote workforces, increasing security standards and cybersecurity insurance requirements are factors driving customers to seek cloud-based solutions to secure their enterprise applications and data. BIO-key customers can transition to PortalGuard IDaaS and enable identity management via a single “pane of glass” from a security perspective, giving organizations clear visibility of individual access across the enterprise, from wherever a user may login. PortalGuard IDaaS therefore delivers productivity benefits with less workflow friction and greater support for Zero Trust security models.

“Global IT leaders are increasingly replacing on-premises technology with flexible, scalable, and cost-effective computing power in the cloud. From reducing IT costs to accelerating access and innovation, there are many compelling reasons to embark on a PortalGuard IDaaS cloud migration,” said Mark Cochran, President of BIO-key – PortalGuard. “In the cloud, IT leaders can easily right-size computing resources according to unique business requirements and cut wasteful spending. Rather than estimate capacity needs in advance, organizations can leverage PortalGuard IDaaS to adjust on the fly, quickly respond to peak demands, and eliminate unnecessary hardware or rigid on-premises assets. Moving to the cloud creates new opportunities for increased agility, focus, and cost savings to emerge and forward-looking organizations will find new ways to transform these benefits into a competitive advantage.”

About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software managing millions of users. Its cloud-based PortalGuard IAM solution provides cost-effective, easy to deploy, convenient and secure access to devices, information, applications, and high-value transactions. BIO-key’s patented software and hardware solutions, with industry-leading Identity-Bound Biometric (IBB) capabilities, enable large-scale Identity-as-a-Service (IDaaS) solutions, as well as customized on-premises 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; our ability to execute and deliver on contracts in Africa; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; 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 “Risk Factors” in our Annual Report on Form 10-K 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, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.

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