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Saturday, May 28, 2022

The Inside Scoop on BIO-key International, Inc. (NASDAQ: BKYI)

BIO-key International, Inc. (NASDAQ: BKYI) has seen a fast rise upwards in recent trading surpassing the $1 mark off its $0.75 base. The move up on BKYI comes on a significant surge of volume and investor interest.

BKYI is on the move after the Company announced 2 important contracts; the first with Arcadia University, a private university in Pennsylvania with approximately 4,000 undergraduate, master’s, and doctorate students for its PortalGuard IAM solution following its recent purchase of PortalGuard developer PistolStar. The second is with North Orange County Community College District (NOCCCD) which chose the PortalGuard solution to improve their security posture and deliver a frictionless access experience for every end-user.

BIO-key International, Inc. (NASDAQ: BKYI) is revolutionizing authentication with biometric solutions that enable convenient and secure access to devices, information, applications, and high-value transactions. BIO-key’s software and hardware finger scanning solutions offer secure, user-friendly, and attractively priced alternatives to passwords, PINs, tokens, and security cards, enabling enterprises and consumers to secure their networks and devices as well as their information in the cloud.

BIO-key biometric identification technology improves both the accuracy and speed of authenticating or identifying individuals, by extracting unique landmarks and other characteristics from a fingerprint and comparing it to the landmarks from previously enrolled fingerprints to determine a match. The technology is built to be scalable and to handle databases containing millions of fingerprints. BKYI achieves the highest levels of discrimination without requiring any other identifying data (multi-factor) such as a user ID, smart ID cards, or tokens, although its technology can be used in conjunction with such additional factors. Users of our technology have the option of on device or cloud authentication. This flexible authentication option in conjunction with our interoperable capabilities, is another key differentiator of our biometric identification solutions.

The Company sells its SideSwipe®, EcoID® and SideTouch® finger readers which can be used on any laptop, tablet or other device which contains a USB port through distributors and directly to end users via Amazon.

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Last year the Company won two significant international government law enforcement projects, one in Dubai and one in Singapore. Both organizations are using ID Director for Windows along with BIO-key fingerprint scanners to secure internal access to files and applications. The U.S. Senate became a BIO-key customer when they ordered its fingerprint scanners to secure access to laptops, computers, and tablets. Several offices within the White House have deployed its scanners as a way to secure the device and protect critical files and applications.

In 2020, BIO-key entered into a sales incentive agreement with TTI to pursue market opportunities in the continent of Africa and  compete for large-scale ID products in Africa and the surrounding region.  The World Bank announced that it has dedicated $443M in funds to support government ID, voter ID, SIM Card registration programs throughout Africa and the surrounding countries. TTI has already secured $75M in contracts as of April, 2020.

BKYI has just announced 2 important contracts; the first with Arcadia University, a private university in Pennsylvania and the second is with North Orange County Community College District (NOCCCD).

Mark Cochran, President, PortalGuard stated: “We’re are witnessing a clear trend amongst the schools and universities that we encounter. IT teams in higher education are consistently challenged with efficiently managing access to enterprise applications for transient student user populations.  PortalGuard can corral all of this access activity into a unified IAM platform that enables IT teams to streamline access while addressing new security threats.  PortalGuard accelerates our customer’s ability to execute strategic initiatives and meet their digital transformation goals.”

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s-1 on 9/9 see it here. Currently running up the charts BKYI is on the move after the Company announced 2 important contracts; the first with Arcadia University, a private university in Pennsylvania with approximately 4,000 undergraduate, master’s, and doctorate students for its PortalGuard IAM solution following its recent purchase of PortalGuard developer PistolStar. The second is with North Orange County Community College District (NOCCCD) which chose the PortalGuard solution to improve their security posture and deliver a frictionless access experience for every end-user. We will be updating on BKYI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BKYI.

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Disclosure: we hold no position in BKYI either long or short and we have not been compensated for this article.

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