Global IT Services Provider Quantum Business Advisory Partners with BIO-key to Support Growing Demand for Biometric Authentication in India
Partnership gives BIO-key a Presence in key Emerging Market
MUMBAI, India and WALL, N.J., July 17, 2018 (GLOBE NEWSWIRE) -- (NASDAQ:BKYI), an innovative provider of biometric authentication and security solutions, today announced it has forged a strategic partnership with India’s Quantum Business Advisory (QB Advisory) to bring its software and hardware solutions to enterprises in India.
Established in 2013, QB Advisory serves the IT requirements of enterprise customers across all of India from sales offices in Mumbai and Calcutta and a presence in Delhi and Hyderabad. QB Advisory focuses on IT infrastructure, software, and information security and support services across multiple industry verticals. The company’s largest customer has locations in 60 countries and a staff of more than 300,000 employees.
The strategic partnership enables QB Advisory to introduce BIO-key's suite of world-class biometric authentication solutions throughout India, a growing market with significant potential. By partnering with QB Advisory, BIO-key is now able to respond to customer demand within India, through a respected, knowledgeable sales and technical resource.
"BIO-key's products and brand offer a natural complement to our portfolio of information security solutions," stated Saurabh Rateria, Managing Director of QB Advisory. "There's a heightened focus on security across India, and organizations are open to investigating proven, scalable and cost-effective solutions that can strengthen security and protect critical assets."
Rateria added, "There is a particular focus on internal security and access control, as risk has increased. Companies now recognize that consumer data is an asset – a very valuable asset – and it is causing them to reevaluate their existing security platforms. All of this has contributed to increased interest in biometric authentication. It's also our opinion that it won't be long before the government will make multifactor authentication a mandated requirement; therefore, adding BIO-key to our product mix makes good business sense."
“India is forward-thinking when it comes to biometric technology, which has led to a growing number of inquiries about our solutions from businesses and consumers throughout the country," stated Mike DePasquale, Chairman & CEO, BIO-key. "Prior to our relationship with QB Advisory, BIO-key did not have a physical presence in India, which put us at a significant disadvantage competing for business. That changes today, as partnered with QB Advisory, BIO-key now benefits from the exposure and in-country presence of one of India's leading IT services providers."
About Quantum Business Advisory ()
In this world of constant change, QB Advisory aims to be the IT partner you can turn to for unadulterated advice and assistance in dealing with technological disruptions requiring continuous improvement. The company aims to make a measurable impact on our clients in transforming business processes by embedding modern information technology. QB Advisory leads with forward-looking technology and provides solutions in a technology agnostic manner across software, infrastructure and knowledge platforms. Our focus areas range from enterprise systems (especially SAP) through Risk Management, Information Security, Big Data, IoT, Enterprise Mobility, Knowledge Management, BPM, and Digital Transformation to the Smart Factory.
About BIO-key International, Inc. ()
BIO-key is revolutionizing authentication with biometric solutions that enable convenient and secure access to information and high-stakes transactions. We offer alternatives to passwords, PINs, tokens, and cards to make it easy for enterprises and consumers to secure their devices as well as information in the cloud. Our premium finger scanning devices offer market-leading quality, performance and price. BIO-key also brings the power and ease of use of biometric technology to its of biometric and Bluetooth enabled padlocks – providing even more ways to BIO-key your world!
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 ability to develop new products and evolve existing ones, customer and market acceptance of biometric solutions generally and our specific offerings, our ability to expand sales within existing customer relationships, our ability to raise additional capital, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 and its 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. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made.
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