Global Railcar Leasing Leader GATX Corporation Expands Use of BIO-key's PortalGuard Solution to Enable Secure and Flexible P...
December 14 2020 - 7:59AM
BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider
of identity and access management (IAM) solutions powered by
biometrics, today announced that GATX Corporation, the leading
global railcar leasing company, has chosen to expand their use of
BIO-key's PortalGuard IAM solution to its GATX Rail Europe
operations to deliver cost-effective and secure password management
to improve their employees' end-user experience and reduce related
costs.
Due to the COVID-19 pandemic, GATX Rail Europe's operations team
has shifted most of their employees to remote work, creating the
need to implement secure password management from remote locations.
The IT team was faced with runaway Help Desk costs supporting
employees in the work-from-home model while it strove to deliver a
great user experience. The PortalGuard IAM solution met important
project goals that included cybersecurity, reduced IT resource
costs, and the enforcement and management of strong passwords on
all devices, whether company-owned or not.
"Since 2004, our team has built a strong track record delivering
multiple value-add security solutions to GATX," said Mark Cochran,
President of BIO-key - PortalGuard. "Events this year have
substantially accelerated enterprise adoption of the work-from-home
model, resulting in widespread security and identity challenges,
rising costs, and workflow disruption. PortalGuard is an ideal
solution for these challenges, providing the perfect balance of
security, usability, and rapid deployment, all at a very
competitive cost. Expanding our footprint within an existing
customer is both gratifying and the strongest possible endorsement
of the value and flexibility of our PortalGuard solution."
About BIO-key International, Inc.
(www.bio-key.com)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,
including 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; our ability to execute and deliver on
contracts in Africa; our ability to expand into Asia, Africa and
other foreign markets; the duration and severity of the current
coronavirus COVID-19 pandemic and its effect on our business
operations, sales cycles, 3 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, 2019 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.
Engage with BIO-key
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BIO_keyIR
Investor & Media ContactsWilliam Jones
& David CollinsCatalyst IR 212-924-9800bkyi@catalyst-ir.com
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