America's Auto Auction Selects BIO-key's PortalGuard Identity-as-a-Service (IDaaS) Identity and Access Platform

DALLAS, Texas and WALL, N.J., Nov. 03, 2021 (GLOBE NEWSWIRE) -- (NASDAQ: BKYI), an innovative provider of workforce and customer identity and access management (IAM) solutions featuring Identity-Bound Biometrics (IBB), today announced America's Auto Auction (AAA) a full spectrum dealer services company headquartered in Dallas, Texas, has selected BIO-key's PortalGuard^® Identity-as-a-Service (IDaaS) platform. With 23 locations nationwide, America's Auto Auction is one of the fastest-growing auctions in the US and has chosen to partner with BIO-key to enhance access security and support delivery of cloud desktops, applications, and workstations from the public cloud.

America's Auto Auction required a centralized security solution to manage access controls across multiple business locations seamlessly. With PortalGuard IDaaS, the AAA IT team can strengthen access security without making the multi-factor authentication process difficult for end-users to use. PortalGuard IDaaS met important project goals that included enhanced cybersecurity, reduced IT resource costs, and the flexibility to secure various remote access scenarios.

"Our company is partnering with BIO-key to address our key corporate security initiatives," states Victor Demaria, MIS/IT Director, America's Auto Auction. "BIO-key provides a proven suite of IAM solutions and we use their biometric authentication solutions including MobileAuth™ with PalmPositive™ to positively prove the user's identity, not just the hardware device, when accessing our critical systems and data. BIO-key offers us significant security advantages over traditional device-based authentication approaches offered by other vendors."

"We are thrilled to have AAA join our growing list of customers," said Mark Cochran, President of BIO-key - PortalGuard. "Centralization is one of the most critical areas on which security teams should focus to address cyber threats and limit the challenges of fragmented security access. Devising a compensative cloud security strategy starts with ensuring that the enterprise has a robust IAM program to guide cloud-related security decisions, and then deploying the right solutions, like PortalGuard IDaaS, to assert the appropriate levels of controls."

About BIO-key International, Inc. ()

BIO-key has over two decades of expertise in providing authentication technology for thousands of organizations and millions of users and is revolutionizing authentication with biometric-centric, multi-factor identity and access management (IAM) solutions, including PortalGuard that provides convenient and secure access to devices, information, applications, and high-value transactions. BIO-key's patented software and hardware solutions, with industry-leading biometric capabilities, enable large-scale on-premises and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.

About America’s Auto Auction ( )

America's Auto Auction offers a full spectrum of Dealers Services necessary to successfully complete the remarketing needs for both Buyers and Sellers. We understand the value of a customer and know that every dealership is different and has different needs.

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, 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, 2020 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.

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