SINGAPORE and WALL, N.J., Jan 5, 2023 (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 a strategic partnership with Singapore-based Progreso Networks & Security Pte. Ltd. to provide IAM solutions to customers across Southeast Asia.
BIO-key’s solutions include BIO-key PortalGuard®, a unified IAM platform offering more flexible options for Multi-factor Authentication (MFA), Single Sign-on (SSO), and Self-service Password Reset (SSPR) than any other access management solution. PortalGuard is the only IAM platform offering Identity-Bound Biometric authentication, utilizing unique, centralized biometric identity to verify the person completing a transaction. This means that trust can be established that the person is the correct person, versus only validating their device, password, or token. PortalGuard also consolidates multiple point solutions under centralized security policies so customers can take a holistic approach to their access management strategy.
Progreso is a Value-Added Distributor and professional services provider for cybersecurity and network solutions in public key infrastructure (PKI) and endpoint security, with particular expertise in identity management, data protection, key management systems, hardware security modules and certificates. Through its robust SI partner network, Progreso has gained a strong foothold in the government sector, protecting critical infrastructures from cyber threats.
“We are very excited to seal this partnership with BIO-key and to offer their award-wining IAM platform and cutting-edge solutions,” said Victor Tang, Managing Director, Progreso. “BIO-key has a proven track record of successful IAM project delivery to enterprises in the American and European markets, and we wish to duplicate their successes in Singapore and Southeast Asia.”
“As organizations of all sizes contend with cybersecurity, risk and privacy challenges, it is critical that we bring the solutions enterprises need to all corners of the globe,” said Alex Rocha, Managing Director – EMEA, BIO-key. “Our partnership with Progreso is an essential step in delivering identity solutions to customers in Southeast Asia. With a massive shortage of cybersecurity professionals across Asia-Pacific, BIO-key’s easy to implement IAM solutions and Progreso’s network of system integrators are sure to be a winning combination.”
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 Progreso Networks & Security Pte. Ltd. (www.progreso.com.sg)
Progreso is a Value-Added Distributor (VAD) for cyber security and network solutions offering professional services and solutions in public key infrastructure (PKI) and endpoint security. Progreso adds value to our system integrators (SI) partners by providing strong expertise in pre-sales and post-sales support for all our products and solutions. Areas of expertise for Progreso include hardware security modules (HSM), key management systems (KMS), data encryption/ tokenization, identity access management (IAM) and data loss prevention (DLP). Through strong partnership with our SI partners, Progreso has gained a strong foothold in the Government sector, where we are committed to protect the nation’s most critical infrastructures from cyber threats.
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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Matter on behalf of BIO-key
William Jones, David Collins