Expands IP Portfolio to 18 IAM and Biometric Patents,
Underscoring BIO-key’s Long-Term Commitment to Innovation
WALL, N.J., April 26, 2021 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, announced that the company has been issued patent # 10,984,085 by the U.S. Patent and Trademark Office for its invention titled “Biometric Recognition for Uncontrolled Acquisition Environments.” The patent will protect BIO-key’s method of enabling next-generation continuous and passive biometric user experiences with its process for enrollment and continuous authentication. The patent expands BIO-key’s portfolio to a total of 18 IAM and biometric patents.
The patent provides an important asset for the company to leverage for its own authentication platforms and to license to mobile device and laptop manufacturers, along with associated security software providers to enhance their security capabilities. The patent’s methods are expected to be particularly valuable deployed in mobile devices with in-screen fingerprint sensors, cameras and microphones generating a continuous stream of partial biometric samples of fingerprints, faces or voices over time. With BIO-key’s patented approach, this initially imperfect sample stream is assembled into a full and complete biometric template that can be used to complete the end-user’s enrollment or authentication in a seamless and efficient manner. BIO-key’s intelligent data pre-processing and transformation algorithms sort through these varying samples of biometric data, making reliable and accurate connections between samples of different sizes, resolution qualities and points of view. In this manner, it supports continuous authentication assurance of a user’s identity during ongoing activity.
Historically, biometric enrollment and authentication were event-based. Users enrolled into a biometric system which captured their data through a regimented process to create their enrollment record. Likewise, authentication was a discrete sample capture-and-compare event which produced a yes or no answer at a point in time. As biometric security evolved, BIO-key identified a need for more adaptable, passive and continuous enrollment and authentication methods to establish and maintain confidence that the device user remains the same over time.
“This patent extends BIO-key’s leadership in innovating unobtrusive methods to protect individual identities for next-generation biometrics systems,” said Mira LaCous, Chief Technology Officer, BIO-key International. “With enterprises and end users asking for less-intrusive means to assure and protect identities, this technology is a valuable weapon in the fight against identity theft and account takeover, while making it easier for end users to get things done.”
For more information about BIO-key’s Biometric Identity Solutions, visit the BIO-key website.
About BIO-key International, Inc.
BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications, and high-value transactions. BIO-key’s proprietary software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.
BIO-key Safe Harbor Statement
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; 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, 2020 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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