SOURCE: BIO-key International, Inc.

BIO-key International, Inc.

March 02, 2015 01:00 ET

BIO-key to Demonstrate Advances in Mobile Multifactor Authentication at Mobile World Congress

Advances in Algorithm, Sensor Size and Performance Being Demonstrated

WALL, NJ--(Marketwired - Mar 2, 2015) - BIO-key International, Inc. (OTCQB: BKYID), a leader in fingerprint biometric identification technologies and secure device-to-cloud mobile credentialing and identity verification solutions, announced that the company will be demonstrating the latest advances in their mobile authentication ecosystem at Mobile World Congress (MWC) Barcelona, Spain (March 2nd - 5th).

BIO-key will also be demonstrating InterDigital's (NASDAQ: IDCC) Multi-Factor Authentication Server (MFAS) which is tailor-made to address consumer authentication needs for Mobile Network Operators (MNO) and other large-scale over-the-top (OTT) service providers. Featuring full compliance with OpenID and capable of leveraging Trustonic's Global Platform compliant Trusted Execution Environment and API, InterDigital's MFAS combines the most secure and transparent device level authentication with user-specific authentication options that leverage BIO-key's interoperable fingerprint matching capabilities. The product is designed to utilize a variety of authentication factors and includes support for FIDO authenticators. InterDigital's MFAS architecture incorporates seamless and secure device-based authentication, isolated from device components which can be spoofed or cloned. Fully backward compatible with existing password-based authentication systems, once the device is authenticated, the user is in turn authenticated using BIO-key's WEB-key platform by swiping on any integrated fingerprint scanner. Biometric matching may occur either in the device or in the cloud, depending on the service provider (SP) and/or user preference.

"Consumers want to use their mobile devices to authorize transactions and payments, as well as access high stake online information," stated Mike DePasquale, Chairman and CEO, BIO-key. "The device manufacturers continue to produce dynamic products with features targeting mass consumer appeal, and application developers continue to produce an endless stream of high value online e-commerce offerings and information services. To date, we have not seen a complete ecosystem and solution for strong mobile biometric security that operates on the device and up to cloud, creating a seamless identity for both online and in-person identity assurance. BIO-key has formed strategic partnerships with InterDigital, IDEX, NEXT Biometrics and the major security infrastructure providers including IBM, CA and Oracle in an effort to address this challenge and to create a global ecosystem for mobile authentication," added DePasquale. "In conjunction with InterDigital our MFAS offering is a perfect example of a solution that can be used by any service provider to authenticate consumers or enterprise users including traditional and innovative means such as biometrics."

"Consumers are constantly being asked to authenticate to the many and varied services they access on their mobile devices. At the same time, it has become difficult for SPs to provide easy and frictionless access to these services, which have varying degrees of security requirements. SPs wish to adopt stronger, more secure authentication using newer types of authentication capabilities such as biometrics and token based authentication. However, the onslaught of the variety and forms of authentication factors becoming available leads to complex requirements on the user device and at the SP," said Jim Nolan, Executive Vice President, InterDigital Solutions. "InterDigital's MFAS architecture aims to provide consumers with a seamless and secure authentication experience, and provides SPs with an easy to access and dynamic granular authentication capability that may be matched to the risk associated with the service being provided."

About BIO-key®
BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions to commercial and government enterprises, integrators, and custom application developers. BIO-key's award winning, high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise applications. Our solutions are used in local embedded OEM products as well as some of the world's largest identification deployments to improve security, guarantee identity, and help reduce identity theft. BIO-key's technology is offered directly or by market leading partners around the world. (http://www.bio-key.com)

About InterDigital®
InterDigital develops technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index. (http://www.InterDigital.com)

BIO-key Safe Harbor Statement
Certain statements contained in this press release and in other public statements by the Company and Company officers include or may contain certain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "anticipate," "believe," "estimate," "will," "may," "future," "plan," "intend" and "expect" and similar expressions generally identify forward-looking statements. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Although we believe that our plans, intentions and expectations reflected in the forward-looking statements are reasonable, we cannot be sure that they will be achieved. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: 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 between us and other companies in the biometric technology industry; market acceptance of biometric products generally and our products under development; 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 "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. Except as required by law, we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information

  • CONTACT:

    Jay Meier
    Vice President Corporate Development
    BIO-key International, Inc.
    651-789-6116
    Jay.meier@bio-key.com