Michael, W. Depasquale CEO
Striking the right balance between convenience and security proves to be a benchmark of success for today’s banking organizations that are heavily weighted toward customers. However, a majority of the organizations still follow traditional ways of securing the assets involving ID cards, PIN numbers or use a common login credential for all their assets. As cybercriminals have become more sophisticated and insidious, it is evident that setting passwords are no longer a solid, viable option to secure information. While organizations in the financial industry look for better ways to secure end-user identities, BIO-key emerged as a boon for them with its robust authentication solutions powered by biometric technology.
The company offers an extensive range of authentication products including fingerprint scanner, multifactor authentication, administrative tools, identity and access management (IAM) platforms and more. “Our forte lies in offering secure, customizable, and user-friendly authentication solutions for all industries at an affordable price,” states Michael W. DePasquale, Chairman and CEO of BIO-key.
Especially in the banking and financial space, securing online access to files, apps, and customer records is critical. With the help of BIO-key’s biometric authentication solutions customers are able to reduce the risk of fraud and successfully monitor user activity. Equipped with a set of biometric fingerprint authentication tools, BIO-key ensures that only the authorized individuals have access to classified information and conducts a complete audit trail to track and trace ‘who, when, and how’ the data was accessed.
What makes BIO-key second to none is their core solutions that include a three-tiered security infrastructure with high levels of security and encryption—WEB-key, the multi-factor authentication solution and ID Director for Windows. “Our solutions offer great administrative configurability and high-end security along with multiple forms of authentication that can be integrated into the customer’s existing infrastructure such as the Microsoft Active Directory,” says DePasquale.
Our solutions offer high-end security along with multiple forms of authentication and can be integrated into the customer’s existing infrastructure such as the Microsoft Active Directory
BIO-key’s ID Directory solution enables immediate sign-in to the customer’s Windows application with the convenience of one-touch instant access, in addition to raising the bar on security. The sophisticated biometric authentication engine—WEB-key supports conventional authentication methods such as pin numbers, tokens, cards, and passwords using challenge-response questions, making it an ideal multi-factor authentication solution.
One of the highlights of BIO-key is their quality-based fingerprint scanners. Their fingerprint scanning hardware solutions include portable mobile devices such as SidePass, SideSwipe, SideTouch, and EcoID, which can be configured to the user’s desktop computers, laptops, and tablets. From installation to ongoing support, BIO-key provides complete maintenance along with the product’s sale to ensure that the system is operable and addresses the client’s issues, questions, or concerns.
Behind the success of BIO-key’s authentication solutions is their diligent development team who has been with the organization well over 15 years. “With the help of such a team, we have built solid, mature products that are deployed in almost every sector in the economy. This massive traction is due to the sophisticated level of security, convenience in integration, and ease of utilization,” remarks DePasquale. BIO-key’s expanding list of eminent clients includes telecommunication companies, hospitals such as the Cleveland Clinic, Nationwide Children’s Hospital, and several government entities.
The upcoming months will see BIO-key leverage more of authentication technology as well as grow and scale their business through their solutions and the references that they have built. Besides developing their core business, the company envisions extending their sales capabilities through partnerships with other authentication providers who do not provide solutions with biometrics. BIO-key is also working on a fingerprint-based SAML authentication solution and plans to introduce the product in the market later this year.