SOURCE: BIO-key International, Inc.

BIO-key International, Inc.

April 17, 2015 08:00 ET

International Financial Services Firm Selects BIO-key for Customer and Employee Authentication

WALL, NJ--(Marketwired - Apr 17, 2015) - BIO-key International, Inc. (OTCQB: BKYI), a leader in fingerprint biometric identification technologies and secure device-to-cloud mobile credentialing and identity verification solutions, announced that an international retail and commercial financial services firm has selected BIO-key to provide the fingerprint biometric matching for their customer and employee identification solution.

The Firm will utilize BIO-key technology to automate positive identification of any of their nearly 7 million clients at any of approximately 7000 contact points in their branches. Additionally, this fast growing and innovative retail and commercial bank plans to use the software to control access for employees to sign into their banking systems. Using BIO-key's solution allows the institution to give customers confidence that their identity is secured against fraud and misidentifications.

"This forward-thinking financial institution was one of the first in the world to leverage fingerprint biometrics to secure their clients' identities against theft and fraud," said Jim Sullivan, BIO-key VP of Strategy and Business Development. "They were able to demonstrate to their clients the advantages of using fingerprint data -- nothing more than a measurement of unique traits that an imposter will not match -- to increase their clients' security and offer paperless transactions. When the time came to upgrade their legacy fingerprint engine, we were pleased that their extensive experience with fingerprint technology led them to the conclusion that BIO-key was the right choice for them to count on."

"We believe this win puts us in great standing relative to other financial service opportunities we are currently competing for as interest in biometrics continues to grow. Moreover, we believe the broader highly regulated markets, including North America, are starting to embrace fingerprint biometrics as a preferred solution," said Michael DePasquale, BIO-key Chairman & CEO.

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)

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, 2014 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.

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