BIO-key Receives $910K Order to Provide Enhanced Biometric Customer Identification Technology
DENVER, Colo., Oct 29, 2024 (247marketnews.com)- BIO-key (NASDAQ: BKYI) reported receiving a $910,000 order from a long-term financial services customer for BIO-key’s “fingerprint only” Biometric Customer Identification Technology.
The move is part of the customer’s expanding deployment of BIO-key technology to verify the identity of over 25 million enrolled individuals and the customer plans to upgrade all its users to BIO-key’s fingerprint-only identity solution.
Jim Sullivan, BIO-key’s SVP of Strategy and CLO, commented, “This financial services customer remains on the cutting edge of biometric technology deployment as it works to deliver the best possible customer experience and protection against fraud.
“After closely working with our team on advance testing, they found that upgrading to BIO-key’s one-to-many fingerprint-only identification technology would not only provide a better user experience but would also save a substantial amount of time at every client encounter, avoiding the time to retrieve a physical ID card. BIO-key’s unparalleled accuracy in identification and speed of indexed search makes this leap in efficient customer engagement possible. The upgrade advances our customer’s commitment to leveraging the power of biometric technology to execute secure digital, paper-less transactions for their clients. We believe this is one of the world’s largest deployments of one-to-many biometric technology in a private commercial or enterprise setting. Working with the client and our partner at AWS, we intend to publish a more detailed whitepaper on this deployment in order to support other enterprises’ understanding the benefits our advanced biometric identity solutions can provide.”
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