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Biometric Stock BIO-key® International (NASDAQ: BKYI) sees Big Gains on Defense Ministry Orders

September 10, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas for traders, including defense and biometric stocks reports on trading for BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring Identity-Bound Biometrics (IBB) for phoneless, tokenless, passwordless and phish-resistant authentication experiences.

The stock spiked today on news, making the NASDAQ top percentage gainer list. The stock is currently trading at $2.0300, gaining 0.9900, up 95.1923% on volume of over 139 Million shares. The stock had a day's high of $3.15.

BIO-key announced today that one of the world's most respected government defense ministries has awarded BIO-key over $500K in new orders for BIO-key's biometric user authentication solution pursuant to a three-year purchasing agreement.

The defense ministry continues to expand its deployment of BIO-key's biometric authentication solution into new programs and user scenarios, delivering convenient phoneless, tokenless and passwordless authentication access to digital services for over 33,000 users. BIO-key expects additional awards in future periods as the defense ministry expands the use of its solution to additional defense ministry personnel.

BIO-key's secure biometric authentication platform has been integrated with the ministry's virtual desktop infrastructure (VDI) capabilities to allow secure VDI-optimized biometric authentication without requiring phones or tokens. BIO-key has worked closely with the ministry's cybersecurity team to integrate its state-of-the-art, cloud-enabled biometric authentication with the ministry's authentication federation platform to deliver advanced, secure biometric access to systems and applications across organizational boundaries. Because BIO-key credentials are the individual themselves, access cannot be shared, delegated, phished or forgotten.

Jim Sullivan, BIO-key's SVP Strategy and Chief Legal Officer, said, "BIO-key's relationship with this innovative customer continues to expand, as does interest from the defense vertical in general. This is one of the most discriminating buyers of security technology worldwide. It is an honor to be trusted to provide the highest level of security possible by biometrically ensuring only the right user accesses the most sensitive information. BIO-key has a long history providing secure, robust solutions in government, defense, finance, retail and other highly-regulated industries, and we are finding that our superior user experience and cost-saving tokenless solution translates well to enterprise authentication."

.Recent news:

https://finance.yahoo.com/news/leading-government-defense-ministry-awards-122700479.html

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