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Tag: BIO-key International

  • BIO-key (BKYI) Gains Strength In Extended Session Amid Market Optimism

    BIO-key (BKYI) Gains Strength In Extended Session Amid Market Optimism

    BIO-key International, Inc. (NASDAQ: BKYI) saw a significant uptick in its stock price, climbing 66.42% during regular trading to close at $2.28, followed by an additional 8.77% increase in extended trading to $2.48. This impressive performance stems from the announcement of a major adoption of BIO-key’s platform by a prominent client.

    BKYI shares have increased by more than 250% in the last month, indicating increased investor interest. Astute traders frequently pay attention to stocks that are under $5, and our advanced screener has found a number of additional excellent performers in this range.

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    Landmark Partnership with National Bank of Egypt

    The largest financial institution in Egypt, the National Bank of Egypt (NBE), has embraced BIO-key’s PortalGuard Identity and Access Management (IAM) platform. The project, which was carried out in partnership with Raya Information Technology, incorporates cutting-edge Single Sign-On (SSO) and Multi-Factor Authentication (MFA) technologies to improve security and expedite access for NBE’s 30,000 workers.

    Raya Information Technology, a trusted reseller certified in BKYI technologies, oversees the deployment, ensuring seamless implementation and coordination among technology vendors.

    Enhancing Security and Operational Efficiency

    The PortalGuard platform provides a unified IAM solution, enabling secure access to critical systems while simplifying workflows. By integrating SSO, employees no longer need to manage multiple credentials, significantly enhancing efficiency. Additionally, MFA ensures compliance with rigorous industry security standards. This innovative framework positions NBE to safeguard its operations and scale its services for millions of customers in the future.

    Driving Innovation Across the Middle East and Africa

    This collaboration underscores BIO-key’s role in addressing the region’s growing demand for advanced cybersecurity solutions. The partnership with Raya Information Technology highlights the potential of BKYI’s technology to drive security and scalability for organizations.

    By empowering NBE with robust authentication solutions, BIO-key reinforces its leadership in the IAM market across the Middle East and Africa. The NBE deployment exemplifies how strategic partnerships can transform organizational security, delivering long-term value for stakeholders and strengthening trust in digital innovation.

  • BIO-key (BKYI) Sees Continued Stock Rally Following Major Order Win

    BIO-key (BKYI) Sees Continued Stock Rally Following Major Order Win

    The increase in BIO-key International, Inc. (NASDAQ: BKYI) shares has continued, building on the gains made during the previous trading session. BKYI stock had a notable 90% spike in the previous session which is seeing a further 9.54% climb to $2.19 as of the latest check today. The company’s recent large order that it obtained is the reason for this noteworthy increase in value.

    Notable Contract Spurs Growth in BIO-key stock

    One of the most reputable government defense departments in the world has given BIO-key over $500,000 in fresh orders. This deal demonstrates the defense ministry’s faith in the company’s biometric user authentication solutions and is part of a three-year purchase agreement.

    The ministry, known for its stringent security requirements, continues to expand the deployment of BIO-key’s technology into new programs and user scenarios. This expansion enables secure, phoneless, tokenless, and passwordless authentication access for over 33,000 users across various digital services.

    Advanced Biometric Authentication Integration

    The awarded contract also highlights BIO-key’s successful integration of its secure biometric authentication platform with the ministry’s virtual desktop infrastructure (VDI). This integration allows for optimized, secure VDI-optimized biometric authentication without the need for phones or tokens, simplifying access to critical systems.

    Additionally, BIO-key has collaborated closely with the ministry’s cybersecurity team to integrate its advanced, cloud-enabled biometric authentication with the ministry’s authentication federation platform, ensuring secure access across organizational boundaries.

    BKYI Continued the Expansion

    BIO-key anticipates additional orders in the future as the defense ministry expands the use of its solution to include more personnel. BKYI’s innovative biometric credentials, which are inherently tied to the individual, offer a level of security that cannot be shared, delegated, phished, or forgotten.

    As interest from the defense sector grows, BKYI’s relationship with this discerning customer continues to strengthen. With a proven track record in government, defense, finance, and other highly regulated industries, BIO-key’s superior user experience and cost-saving tokenless solutions are making a significant impact on enterprise authentication.

  • What Fueled After-Hours Drive In BIO-key (BKYI) Stock?

    What Fueled After-Hours Drive In BIO-key (BKYI) Stock?

    During Thursday’s extended session, BIO-key International, Inc. (NASDAQ: BKYI) had a huge increase in its price, rising 17.78% to $4.24. The shares of BIO-key increased 16.51% to $3.60 during the regular session. The agreement of a strategic cooperation fueled the after-hour drive in BKYI shares.

    BIO-key International, Inc. (NASDAQ: BKYI) has declared that Carrefour, a prominent international retailer, would be using BIO-key’s cloud-based AuthControl Sentry system in Spain. The integration will be carried out in association with BIO-key’s Swivel Secure Europe subsidiary and Evolutio, a reputable partner. Carrefour’s continuous dedication to data protection and operational excellence includes this strategic partnership.

    AuthControl Sentry plays a crucial role in protecting Carrefour’s 6,500 Spanish workers’ authentication procedure. The solution upholds the company’s commitment to the highest levels of data security and privacy while safeguarding access to vital services.

    A significant accomplishment is the deployment of the AuthControl Cloud Sentry system in Spain by Carrefour, a well-known international retailer. This partnership, which was made possible by BKYI’s partner Evolutio, demonstrates the solutions’ security, adaptability, and dependability in addressing the intricate cybersecurity requirements of big businesses.

    Top-tier security solutions from BIO-key Europe enable companies like Carrefour to function resiliently and with confidence in an increasingly digital environment. Its AuthControl system guarantees the highest level of security for its clients, their staff, and sensitive data in addition to improving operational effectiveness.

    Another recent event is that BKYI conducted a $550,000 private offering of shares at a premium to market and fully serviced its $2.2 million senior secured note, clearing all long-term debt. BKYI is working hard to position itself financially so that it may develop and perform better on the bottom line in 2024 and beyond.

    During the last two months, $4.3 million in equity fundraising has been completed as part of these initiatives. In addition to strengthening BKYI’s cash and liquidity position, the proceeds from these transactions allowed it to redeem a $2.2 million note that AJB Capital Investments had issued and retained.