BIO-key Extends Biometric Services Contract With Major Telecom Customer

BIO-key has extended its business relationship with one of its high-profile clients. The company has announced that it has inked a $1.2 million follow-up order with a major telecommunications company.

The three-year contract retains BIO-key support services for its enterprise-focused biometric security platform, which revolves around fingerprint-based authentication. In a statement announcing the deal, BIO-key did not name the new client, but described it as a “Fortune 500 telecommunications industry customers”, adding that BIO-key’s solution is protecting online assets used by “several hundred thousand of the customer’s global personnel and supply chain partners.”

“We are delighted by this high-profile customer’s renewed commitment to our biometric solutions, demonstrated by their support services contract extension,” said BIO-key’s SVP Jim Sullivan. “It confirms the competitive benefits, scalability and value of our biometric solutions for large enterprise customers, where a one-size-fits-all token or phone solution does not provide sufficient security to meet many customers’ needs.”

The contract offers some indication of the continuing importance of BIO-key’s fingerprint-based solutions even as much of the company’s new business is being drive by the PortalGuard single sign-on solution it acquired last year. In its most recent fiscal update, BIO-key reported a major jump in revenues for 2020, thanks in large part to PortalGuard’s market success.

Also on the biometrics front, BIO-key recently sent its first shipment of fingerprint sensors and software for major contracts secured with clients in Nigeria last year.

The contract extension with BIO-key’s Fortune 500 telecommunications client should help to further boost sentiment at the company after it made the shortlist for the SC Media 2021 Trust Award last month.

–

April 5, 2021 – by Alex Perala

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

Related News

Footer

Follow Us