MIDDLETOWN, N.Y. & WALL, N.J., Nov. 17, 2021 (GLOBE NEWSWIRE) — 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.
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BIO-key Media Contact:
William Jones, David Collins