New York-Based Orange Bank & Trust Company Selects BIO-key's PortalGuard Identity-as-a-Service (IDaaS) Access Management Platform with Biometrics to Secure Network and Data Access Across All Branch Locations
November 17 2021 - 7:58AM
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 Orange Bank & Trust Company, headquartered in
Middletown, NY, has selected BIO-key's PortalGuard®
Identity-as-a-Service (IDaaS) platform, including WEB-key biometric
authentication to enhance access security to enterprise
applications and bank workstations. With $1.9B in total assets and
14 locations across the Hudson Valley, Rockland and Westchester
counties, Orange Bank is a leading regional provider of banking and
financial services, including commercial lending, cash management,
and wealth management services.
With PortalGuard IDaaS and WEB-key, Orange Bank sought a
centralized, cloud-based IAM solution to manage and secure access
across multiple business locations seamlessly with a stronger array
of multi-factor authentication (MFA) options. Orange Bank chose to
utilize BIO-key’s WEB-key biometric authentication technology that
confirms the user's true identity, not just the hardware device
they are using, without inserting a more cumbersome or time
intensive MFA process. As a unified IAM platform, PortalGuard IDaaS
enabled Orange Bank’s IT team to achieve its strategic goal of
increasing access security flexibility to improve the user
experience, while also reducing overall IT resource costs and
complexities involved in supporting multiple security
solutions.
"Our team at Orange Bank is partnering with BIO-key to provide
our financial institution with a cloud IDaaS solution that delivers
advanced biometric authentication," states Kathy Pinto, VP IT,
Orange Bank & Trust. "BIO-key provides both biometric
authentication and a proven suite of IAM solutions that provide
security flexibility and value over approaches offered by other
vendors."
"We are glad to welcome Orange Bank & Trust to the BIO-key
community of customers in New York state," said Mark Cochran,
President of BIO-key - PortalGuard. "The PortalGuard IDaaS platform
with WEB-key biometric authentication is compelling for businesses
that need to architect a best-in-breed cloud security strategy to
address evolving cyber threats, prove a user's true identity, and
decrease time to value."
About Orange Bank and Trust Company
(www.orangebanktrust.com)
(NASDAQ: OBT)Orange Bank & Trust Company is an
independent bank that began with the vision of 14 founders over 125
years ago. It has grown through conservative banking practices,
ongoing innovation, and an unwavering commitment to its community
and business clientele to more than $1.9 billion in total assets.
In recent years, Orange Bank & Trust has added branches in
Rockland, Westchester, and the Bronx.
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 Identity-as-a-Service (IDaaS) solutions
as well as customized enterprise and cloud 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; 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: @BIOkeyIntlTwitter – Investors: @BIO_keyIRStockTwits:
BIO_keyIR
BIO-key Media Contact:Erin Knapp Matter
Communications BIO-key@matternow.com 914-260-3158
Investor Contacts:William Jones, David
CollinsCatalyst IRBKYI@catalyst-ir.com212-924-9800
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