-- BIO-key leverages its strong patent portfolio, technology expertise, partnerships, and brand-name recognition to offer value-added benefits to customers
MOUNTAIN VIEW, California, Aug. 12, 2013 /PRNewswire/ -- Based on its recent analysis of the fingerprint biometric solutions market, Frost & Sullivan recognizes BIO-key International, Inc. (OTCBB: BKYI) with the 2013 North America Frost & Sullivan Award for Competitive Strategy Innovation and Leadership. The company exclusively offers mobile and Internet-based software solutions, giving it an unbeatable edge in the cloud-based fingerprint biometric solution market.
BIO-key's keen focus on the market has made its software platform robust, innovative, and both hardware and operating system-agnostic, allowing it to gather and process data from multiple sources. The company's advanced features, which are custom-designed for fingerprint scanners and mobile devices, have established its software platform as the preferred solution in the North American fingerprint biometric solutions market.
BIO-key solutions can be easily used by a wide range of wireless and enterprise application end users, in either the device or the cloud. This is unique within the industry and has, consequently, enabled BIO-key to emerge as one of the most preferred solution providers in the North American fingerprint authentication space.
With an extensive patent portfolio, BIO-key has developed a wide range of solutions such as Vector Segment Technology™ SDK (VST), WEB-key®, Biometric Service Provider™ (BSP), ID Director™, and True User Identification®. These solutions are compatible with more than 60 types of fingerprint readers and scanners, devices, and platforms.
"BIO-key software infrastructure is such that it can be easily accessed from any device that has an Internet connection and a supported fingerprint reader," said Frost & Sullivan Senior Research Analyst Nandini Bhattacharya. "This capability of the architecture makes BIO-key solutions unique and extremely suitable for all types of commercial and government applications."
To extend its services, BIO-key partnered with an exhaustive list of fingerprint biometric readers and scanners manufacturers. It follows a cloud-based partnership model that involves collaboration with technology leaders for cloud identification solutions to provide an integrated solution.
As it has a strong mobile biometric platform, BIO-key has signed strategic partnerships with major enterprise communications infrastructure technology providers, like IBM, CA and Oracle, as well as InterDigital, to provide a simple and strong authentication solution in the cloud or on-device network. Also, partnerships with leading telecom companies will allow BIO-key to reach out to its customers using the iPhone, iPad, Motorola Atrix and ES400, Motion Panasonic H1, and other compatible devices to widen its customer base and enrich its brand value.
"The BIO-key solutions are designed to perform seamlessly on the Internet, cloud, and traditional networks, while simultaneously being able to stand alone. This uniqueness of strategy has helped BIO-key increase its customer base over the years," noted Bhattacharya. "Its tremendous track record, in both the government and commercial sectors, has stoked business growth in recent years."
"We are thrilled to be recognized with the 2013 North America Frost & Sullivan Award for Competitive Strategy Innovation and Leadership. This is yet another validation of our core technology and our strategy to provide near-ubiquitous biometric security solutions for local and cloud authentication," stated Mike DePasquale, BIO-key CEO. "As 'high-value' mobility applications such as mobile payments and banking begin to flood the market and fingerprint-capable mobile devices become available, multi-factor security that is user-friendly will be a mandate for consumers. We believe that risk-based security architectures will require both 'on device' and 'in the cloud' solutions, and we are well positioned along with our partners to provide the highest-quality finger biometric solutions available."
Frost & Sullivan presents this award to the company whose competitive strategy has yielded significant gains in market share during the research period. Often, the recognized company has taken advantage of recent market changes that facilitate the introduction of novel methods of capturing and solidifying market presence. Alternatively, it may have executed an inventive strategy within the existing competitive landscape, empowering itself to overtake the competition. The company captures the attention of the competition, which quickly adjusts in order to protect its own market position. These innovations are expected to produce lasting, precedent-setting trends in the industry.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About BIO-key International (BIO-key)
Based in New Jersey, U.S., BIO-key International is a leading fingerprint biometric software provider for government and commercial sectors. BIO-key International was formed in 1993, and in 1997, it became a publicly traded company. Primarily catering to the North American market, the company has also made successful deployments outside of this region. BIO-key's solution is hardware- and operating system-agnostic, and the company follows a strategic approach of offering a cloud-based fingerprint biometrics authentication. To do so, BIO-key has partnered with leading developers, such as IBM, Oracle, CA and Evidian.
Jay M. Meier, Vice President of Corporate Development
BIO-key International, Inc.
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