BIO-key International and 3Eye Technologies Partner to Deliver Identity-Bound Biometrics to New Markets
April 07 2022 - 07:57AM
BIO-key International, Inc. (NASDAQ: BKYI), an
innovative provider of Identity and Access Management (IAM)
solutions featuring Identity-Bound Biometrics (IBB), today
announced a new partnership with 3Eye Technologies, a value-added
distributor of mobile, security, and identity solutions. The
affiliation will enable BIO-key to introduce its award-winning
solutions and IBB to a larger set of consumers, especially in
financial services and local governments. This partnership will
enable them to bring higher security and convenience to
organizations looking for complete IAM solution packages.
3Eye Technologies collaborates with vendors to
plan and execute strategies for distributing cutting-edge
technological solutions to targeted industries. The company aims to
build relationships with leading technology vendors like BIO-key to
empower value-added resellers (VARs) and managed service providers
(MSPs) to represent, sell, and service best-in-class products.
The need for convenient, secure IAM solutions
has never been higher, with an increasing amount of critical
business being done online or from remote locations. Trust in who
has access to what is paramount to building trust both inside an
organization and for customers. In particular, governments and
financial institutions are targets for threat actors to attempt to
gain access to protected data. The ability to safeguard these
systems needs to be matched by the ability of a diverse range of
employees across multiple locations. These new requirements in
these industries have driven an unprecedented need for
cybersecurity solutions like those offered by BIO-key.
"The partnership between BIO-key and 3Eye
Technologies will be beneficial in reaching key markets like
banking, financial, local government clients as well as other
enterprises," said Fred Corsentino, Chief Revenue Officer at
BIO-key. "This ability to target and foster these markets will be
instrumental in proliferating BIO-key's innovative solutions across
industries that need to secure essential data for their employees
and customers alike."
BIO-key will utilize 3Eye Technologies' network
of VARs and MSPs to expand the scope of its channel sales and
marketing and increase market education for organizations about the
benefits of IBB-based solutions. By partnering with 3Eye
Technologies, BIO-key will grow its Channel Alliance Partner (CAP)
program, expand the use of IBB and continue to be a thought leader
in the cybersecurity space.
"We're excited to add BIO-key to our technology
products and services portfolio because its solutions address
several key security concerns that affect organizations across
every field," stated Reid Estreicher, VP of Business Development,
3Eye Technologies. "Cybersecurity is obviously top of mind for
every organization, and BIO-key's IAM solutions are some of the
most flexible and diverse in the industry, allowing our sales team
to 'tailor' authentication platforms for their customers. Another
key driver inspiring our partnership is the growing cyber security
insurance guidelines. These new guidelines require customers to
deploy multi-factor authentication to maintain their cyber security
insurance coverage, or they face either a loss of coverage or
significant rate increases. BIO-key is a trusted leader in this
area and will help us address the organic need within the market.
BIO-key is the only IAM provider that offers Identity-Bound
Biometrics, which are ideally suited for 3Eye Technologies'
customers across multiple industries."
To learn more about BIO-key's solutions, visit
the company website. To learn more about 3Eye Technologies, visit
the company 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 3Eye Technologies
(www.3eyetech.com)3Eye
Technologies is a value-added distributor of mobility, security,
and identity solutions, committed to helping our partners identify,
configure, and deliver solutions that enable seamless and secure
work, wherever work gets done.
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:
https://www.facebook.com/BIOkeyInternational/ LinkedIn – Corporate:
https://www.linkedin.com/company/bio-key-international Twitter –
Corporate: @BIOkeyIntl Twitter – Investors: @BIO_keyIR StockTwits:
BIO_keyIR
BIO-key Media Contact: Erin Knapp Matter Communications
BIO-key@matternow.com 914-260-3158
Investor Contacts: William Jones, David Collins Catalyst IR
BKYI@catalyst-ir.com 212-924-980
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