BIO-key International, an innovative provider of biometric software and hardware solutions for strong and convenient user authentication, announced that it has secured an initial $1.1M subscription contract for its enterprise biometric authentication platform with a leading Fortune 500 customer.
BIO-key International, an innovative provider of biometric software and hardware solutions for strong and convenient user authentication, announced that it has secured an initial $1.1M subscription contract for its enterprise biometric authentication platform with a leading Fortune 500 customer. BIO-key’s software-based fingerprint biometric platform was selected to provide secure authentication to customer records and other enterprise resources for several hundred thousand of the customer’s personnel worldwide. Beyond the software subscription the contract will also include initial sales of BIO-key’s fingerprint scanners, with significant additional scanner orders anticipated as the customer expands their deployment. BIO-key expects to record revenue from the contract in the current quarter ending December 31, 2016.
“Like many organizations, this customer needed to both strengthen and streamline its username and password authentication process for its very large user base, yet most strong authentication alternatives presented significant user experience friction. That convinced them to instead choose BIO-key’s simple, yet strong authentication technology,” stated Jim Sullivan, BIO-key SVP Global Sales. “A key differentiator of the BIO-key platform is the portability of the biometric user experience, as BIO-key does not tie users to a particular device, and only authorized users may access their systems - credentials cannot be stolen or shared.”
BIO-key fingerprint readers provide one-touch sign-in, eliminating the friction of entering a password or PIN or utilizing a token or out-of-band device authentication option. Streamlined authentication allows employees to move swiftly from one action to the next, across systems, without breaking stride for multi-step authentication or finding their phone. BIO-key biometric authentication solutions strengthen security and reduce the risk of fraud, while substantially improving the user experience.
BIO-key’s authentication platform is more secure than traditional biometric matching, in that it extracts a one-way template of 1500-2000 unique landmarks of a biometric measurement, and securely manages those credentials centrally, enabling portable biometric user experiences. BIOkey supports most integrated fingerprint readers found in user laptops, and where laptops or tablets lack a reader, customers can utilize one of BIO-key’s low-cost, high-quality USB fingerprint reader solutions, sold in retail and online outlets such as Microsoft, Amazon and Dell.com.
“This is the first large-scale subscription win for our enterprise biometric solutions,” stated Mike DePasquale, Chairman & CEO of BIO-key. “We are extremely proud that this customer selected BIO-key in their pioneering implementation of large-enterprise security and operational workflow and the related efficiency gains available through our authentication solutions. We look forward to building upon this initial relationship and continuing to support them as they expand their biometric footprint.”
Product Adopted:Biometrics