NY Regional Bank Selects BIO-key Biometric Authentication to Comply with New York State Department of Financial Services Cybersecurity Law

WALL, N.J., Oct. 04, 2018 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of biometric authentication and security solutions, today announced a regional bank serving customers throughout Long Island and neighboring New York City boroughs, has selected BIO-key to provide an integrated multifactor biometric sign-in solution for use by its employees accessing computer devices and connected applications. The BIO-key solutions are intended to ensure compliance with the multi-factor authentication (MFA) requirements of the New York State Department of Financial Services Cybersecurity Requirements for Financial Services Companies – (23 NYCRR 500).

The bank selected BIO-key’s ID Director software solution to add secure and convenient fingerprint biometric authentication to their Windows platform. ID Director integrates with Microsoft’s Active Directory network access platform, delivering biometric single sign-in (SSO) capabilities enabling employees to securely access banking applications, email, fraud and risk management applications such as Verafin and Centrix, and the KACE systems management ticketing system.

The bank is also integrating BIO-key’s highly accurate, Federal Information Processing Standard Publication 201 (FIPS 201) compliant PIV-Pro fingerprint scanners to secure access to each computing device.

BIO-key Chairman and CEO, Mike DePasquale, commented, “Regulatory compliance is a compelling driver for implementing cybersecurity solutions in highly regulated industries. We are also learning that banks and other financial institutions are increasingly recognizing that adjusting passwords from eight to fourteen characters is not the answer to their complex security needs. Specifically, many companies are finding longer passwords actually inhibit workflow and sound business practices, motivating them to consider more secure and less cumbersome multi-factor authentication including biometrics.

“We are pleased to have been selected for this deployment and look forward to providing the bank with our secure, yet convenient multi-factor authentication solutions to support their objective of maintaining compliance with the New York State Department of Financial Services Cybersecurity Law,” added DePasquale.

About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric solutions that enable convenient and secure access to information and high-stakes transactions. We offer alternatives to passwords, PINs, tokens, and cards to make it easy for enterprises and consumers to secure their devices as well as information in the cloud. Our premium finger scanning devices offer market-leading quality, performance and price. BIO-key also brings the power and ease of use of biometric technology to its TouchLock line of biometric and Bluetooth enabled padlocks – providing even more ways to BIO-key your world!

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 ability to develop new products and evolve existing ones, customer and market acceptance of biometric solutions generally and our specific offerings, our ability to expand sales within existing customer relationships, our ability to raise additional capital, and our ability to attract and retain key personnel.  For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 and its 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. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made.

Investor & Media Contacts
William Jones, Tanya Kamatu
Catalyst Global
212-924-9800
bkyi@catalyst-ir.com