Welcome!

News Feed Item

IDEX and BIO-key Sign License Agreement to Deliver Advanced Biometric Solutions for Mobility Market

The Agreement Will Provide the Next Generation of Secure Identification Solutions for Mass Market Consumer Devices

WALL, NJ and OSLO, NORWAY -- (Marketwired) -- 03/31/14 -- BIO-key International, Inc. (OTCQB: BKYI) and IDEX ASA (OSE: IDEX) have entered into a license agreement and will collaborate to deliver a sensor-to-server infrastructure solution for trustworthy, yet simple and low-cost, in device and online authentication for consumer applications and in particular the smartphone, tablet, and PC markets. The software and hardware combination will be capable of delivering the most accurate, flexible and cost-efficient fingerprint biometric solutions available. BIO-key is a global leader in fingerprint biometric identification solutions, advanced mobile authentication and identity assurance technologies and IDEX is a leader in low cost, high quality fingerprint sensor technologies.

Since 1997 IDEX ASA has been pioneering in the field of capacitive fingerprint sensing technology offering its award-winning miniaturized SmartFinger swipe and touch fingerprint sensors for mass market applications. SmartFinger is ideally suited for smartphones, tablets, PCs and other devices. BIO-key develops and supplies its NIST-validated, highly accurate fingerprint matching software and WEB-key secure multifactor authentication platform. When combined, the IDEX/BIO-key solutions will provide handset, tablet, PC as well as other device manufacturers and value-added resellers the most accurate and efficient identity assurance and fingerprint authentication available -- both on device and in the cloud. Gartner analyst Gregg Kreizman predicted recently that by 2020, 60% of all digital identities interacting with enterprises would come from an external provider, and fellow Gartner analyst Ant Allan predicts that by 2015, 30% of users accessing corporate networks or high-value Web applications from smartphones or tablets will use biometric authentication. This is the market that IDEX and BIO-key are positioned to capitalize on.

"The mobile market is rapidly adopting fingerprint sensors for convenient user authentication, leading to secure payment solutions and opening up opportunities for new identity-based applications. IDEX and BIO-key offer a combined solution for secure user identification, leveraging IDEX's best in class fingerprint sensors, a new generation of powerful recognition algorithms, together with proven BIO-key secure multifactor authentication software. The combined solution and IP creates the potential for significant value-added services to be developed with market-leading customers," stated Dr. Hemant Mardia, CEO of IDEX.

"IDEX chose BIO-key after an extensive evaluation of the available fingerprint matching algorithms in the market to pair with our leading sensor products, and feel that BIO-key's accuracy in mobile applications, combined with their vision for advanced secure biometric systems, make them the ideal partner for IDEX," said Ralph W. Bernstein, CTO of IDEX.

"This is a significant validation of BIO-key's commitment to mobile and the consumer market as a core component of our overall strategy. The out-of-the-box combination of IDEX's outstanding sensor technology with BIO-key highly regarded algorithm technology promises to be disruptive in the marketplace. Our combined strengths solve for technological, architectural and economic weaknesses in contemporary fingerprint deployments and will provide higher fingerprint accuracy rates, at faster matching speeds, in more operating system environments, with more efficient yields and costs," stated Mike DePasquale, BIO-key Chairman and CEO. "With market estimates approaching billions of biometrically enabled mobile devices over the coming years, we believe this alliance will command a significant market share, and change the dialog about what biometrics can do for mobile identity trust and security."

"The consumer market for mobile biometric authentication is emerging quickly," said Jim Sullivan, BIO-key Vice President of Strategy and Business Development. "That market will rely on flexible solutions that can securely connect the endpoint fingerprint scanner devices into the existing Identity and Access Management (IAM) infrastructures that enterprises, mobile carriers and online service providers already operate. BIO-key has longstanding partnerships with the leading IAM platforms such as CA Siteminder, IBM ISAM/ESSO, Oracle Access Manager, major EHR platforms from EPIC and AllScripts, and patient ID solutions from Healthcare-ID. As a result, the combined IDEX/BIO-key solution will be quickly deployable for enterprises who want trustworthy and simple authentication options for their users' devices. We will give our mutual customers the best of all worlds -- for example, in-device FIDO (Fast Identity Online) authentication, but with the confidence and usability of BIO-key's NIST-tested matching inside, as well as 'FIDO plus Trust' with a trusted service performing biometric identity proofing before activating a user via FIDO. The combined solution will also work seamlessly with our recently announced OpenID Multi-Factor Authentication Solution (MFAS), developed in collaboration with InterDigital."

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. The 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. www.bio-key.com

About IDEX
IDEX ASA at Fornebu, Norway, specializes in fingerprint imaging and recognition technology. IDEX's vision is to ensure individuals a safe, secure, and user-friendly use of personal ID. IDEX has developed the award-winning SmartFinger technology platform based on the Company's core intellectual property, including the patented fingerprint imaging principle, sensing scheme and chip design. Combined with core software solutions for imaging and authentication, the SmartFinger technology enables on-device enrollment, template storage and verification within the very same module. SmartFinger solutions can be seamlessly integrated into a variety of embedded applications such as mobile phones, one-time password devices, Smartcards, payment and ID cards, payment terminals, access control devices and biometric security and login tokens. www.idex.no

BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "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 subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, wider market acceptance of biometric technologies, our ability to raise additional financing, our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and its 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. The Company undertakes no obligation to disclose any revision to these forward-looking statements whether to reflect events or circumstances after the date hereof or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...