Wall, NJ, October 21, 2020 - BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced that Marion Technical College, located in Marion, Ohio, has selected BIO-key's PortalGuard IAM solution to deliver cost-effective and secure Two-Factor Authentication (2FA) and seamless Single Sign-On (SSO) for mission-critical applications and data.
Marion Technical College sought to provide students, faculty, and administrators with more secure and frictionless access to applications like Office 365, Canvas LMS, and PowerCampus to improve the user experience while enhancing access security to institutional data. Implementing single sign-on (SSO) transparently to schools makes the college function better. Before single sign-on (SSO) for schools, it was common for users to have different logins (i.e., multiple usernames and passwords) for each system, department, etc. This led to considerable user frustration and higher support costs for the college. Because a single set of credentials allows access to so many systems, it was essential to provide end-users with two-factor authentication as an effective countermeasure against cybercriminals and unauthorized access to accounts.
"The combination of SSO and 2FA allows us to provide our customers with both the incredible value of a single set of credentials as well as a higher level of security to protect their critical data," stated Mark Cochran, President of BIO-key - PortalGuard. "With students increasingly learning in digital formats, the ability to securely connect to educational systems is an important element within a safe and supportive learning environment. Many higher education institutions are pursuing initiatives for this type of cybersecurity improvement, and we are here to help other institutions to follow suit."
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; our ability to integrate the operations and personnel of PistolStar into our business; 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, 2019 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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