BIO-key Receives $1.5M Pre-Paid, Two-Year Software Subscription Order for its Biometric Identification Platform
HOLMDEL, N.J., Feb. 20, 2024 (GLOBE NEWSWIRE) — BIO-key® International, Inc. (NASDAQ:BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) software infrastructure featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, announced that a long-term financial services customer has executed a two-year, pre-paid $1.5 million agreement for the ongoing use and expanded deployment of BIO-key’s biometric customer identification technology. The agreement follows continued strong growth in client enrollments by the customer over eight years since its first deployment. The BIO-key system streamlines and enhances security for the client identification process for over 25 million clients and contemplates approximately 12% annual growth in users over the next year.