BIO-key MobileAuth™ Innovation Continues to Advance the Adoption of Identity-Bound Biometrics and Remove the Need for Multiple Authentication Solutions
May 03 2022 - 7:58AM
BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider
of Identity and Access Management (IAM) and Identity-Bound
Biometric (IBB) solutions, today announced upgrades to BIO-key
MobileAuth™, the only multi-factor authentication (MFA) mobile app
that integrates the power of IBB across multiple authentication
modalities, allowing customers to build a more complete MFA
strategy. These methods include palm scanning (PalmPositive™) and
facial recognition (FacePositive™). In addition to the newest
IBB-powered modalities, MobileAuth supports device-based biometric
authentication methods including Apple Face ID, Touch ID, and
Android Biometrics, as well as support for push token
authentication. These enhancements make biometrics even easier for
customers to deploy across a wider set of use cases and further
consolidate their authentication and security solutions.
BIO-key believes it is essential to put people at the center of
security solutions, as the only constant in our rapidly evolving
world. BIO-key MobileAuth™ is the only MFA mobile app that can
safeguard access to critical data with authentication that verifies
the user and offers multiple, easy-to-use authentication methods
for users to choose from while reducing operational costs for IT
departments. By integrating IBB into the mobile app’s
authentication methods, security risks, inconvenience, high costs
and user friction of traditional authentication methods are
eliminated.
While traditional multi-factor authentication (MFA) approaches
do provide an extra layer of security, recent cybersecurity attacks
and user adoption challenges have proven that these methods are not
enough. Both CISA and the FBI warn that traditional MFA strategies
based on ‘what you know’ and ‘what you have’, like passwords and
one-time passwords (OTP) sent via SMS, remain vulnerable to social
engineering and damaging cyberattacks, such as account takeovers
and credential handovers. Hardware tokens present other challenges,
including high lifecycle costs, lost token churn, and complicated
user experiences. Moreover, authentication that is not
enterprise-controlled leaves room for end-users to share
credentials or enroll additional users to their devices without
consent.
“The current authentication process is not frictionless, and
with cybercrime on a steady rise, it’s more important than ever to
have a strong, easy-to-use and affordable multi-factor
authentication strategy in place," said Michael DePasquale,
BIO-key’s Chairman and CEO. “We’re at a critical point in the
evolution of authentication where stronger solutions must include
authentication that’s based on ‘who you are’. We’re extremely proud
to address this need by empowering our customers to take full
advantage of Identity-Bound Biometrics from the convenience of any
mobile device using MobileAuth.”
MobileAuth’s enhanced Identity-Bound Biometric capabilities
uniquely offer the highest levels of:
- Risk Prevention: access to critical data and
applications is safeguarded by authenticating the person taking the
action — not just the device. Stronger encryption and session
management provide increased security levels in tandem with IBB
credentials that cannot be forgotten, shared, exchanged, stolen, or
forged.
- Flexibility: employees, customers, and
suppliers can choose from multiple, easy-to-use authentication
methods — including IBB authentication methods using facial
recognition and palm scanning, local biometrics, and push tokens —
to provide a convenient and consistent user experience.
- Cost Efficiency: with a lower total cost of
ownership compared to traditional authentication methods,
MobileAuth is ideal for large-scale deployments. No additional
hardware is necessary, as MobileAuth can be used on any
camera-equipped mobile device. IT department overhead is
drastically reduced by eliminating costs and resources required to
support traditional authentication methods.
MobileAuth is perfectly suited for common use cases including
remote workforces, third-party access, and passwordless workflows.
A key use case for MobileAuth is Customer Identity and Access
Management (CIAM). CIAM is focused on improving customer
registration and login experiences, reducing the risk of account
takeover, and being able to scale to manage millions of customer
identities. MobileAuth quickly scales to secure customer access
with no additional hardware required, an easy self-registration
process, and passwordless options, making it ideal for
organizations to deliver a frictionless, secure experience.
A Media Snippet accompanying this announcement is available by
clicking on the image or link below:
MobileAuth provides the unique combination of convenience,
security, and integrity — perfect for securing all access. BIO-key
MobileAuth is available for iOS and Android, requiring an active
BIO-key PortalGuard® IDaaS account and will be available and
shipping in the third quarter.
To learn more about the BIO-key MobileAuth upgrades and
Identity-Bound Biometrics, please visit the BIO-key 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.BIO-key Safe Harbor StatementAll
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.
Engage with BIO-key:Facebook – Corporate:
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Corporate: @BIOkeyIntlTwitter – Investors: @BIO_keyIRStockTwits:
BIO_keyIR
BIO-key Media Contact:Erin KnappMatter
CommunicationsBIO-key@matternow.com914-260-3158
Investor Contacts:William Jones, David
CollinsCatalyst IRBKYI@catalyst-ir.com212-924-9800
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