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Financial Institution Leverages Fingerprint Identification for Advanced Identity Management, Single Sign-on and Workstation Security
Wall, NJ and Orlando Fla., February 13, 2007 ; Biometric fingerprint identity management leaders BIO-key International Inc. (OTC Bulletin Board: BKYI) and Zvetco Biometrics today announced that ING Group has implemented a biometric identity management system leveraging BIO-key's patented VSTT biometric matching software and Zvetco's proven Verifi fingerprint readers. Dutch biometric consultant BioXS integrated BIO-key's software with Zvetco's readers at ING resulting in a fingerprint identification solution that enables the global financial services company's dealers to quickly and securely access central dealing room computers.
ING Group is a global financial institution offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 114,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
"ING has put security first for more than 150 years, but the real value of this added security measure is that in addition to improved security and Sarbanes-Oxley compliance, the biometric identity management improves dealer productivity," said General Manager Reinier van der Drift of BioXS. "In the past, complex passwords were required for ING dealers to access secure trading room workstations, which were easy to forget or loose, and had to be changed often to maintain optimum security. Now, access to ING's dealer room computers is always at the user's fingertip."
BIO-key's advanced software algorithm was selected due to its ability to deliver swift and secure identification based on its superior accuracy, ease of use and ease of integration. Zvetco Biometrics' award-winning Verifi P4000 fingerprint readers were chosen in order to meet with ING's requirement for a durable reader with superior performance and reliability.
"Password management was a real headache for ING Bank, as it is with most large organizations," said Zavi Cohen, CEO of Zvetco Biometrics. "The combined BIO-Key and Zvetco solution eliminates the costs and hassle of dealing with passwords, adds a significant new layer of security, and addresses SOX compliance, protecting both ING and its customers."
Mike DePasquale, CEO of BIO-key International, added, " With the simple touch of a finger, ING Bank dealers now have the ability to quickly establish their identity and gain access to the trading floor. Replacing user passwords with their fingerprints, not only eliminates the cost of managing passwords, but improves dealer productivity since forgotten and compromised passwords that take dealers off the floor during peak working hours are also eliminated. This is yet another example of the huge potential for finger biometrics in the financial services market."
BIO-key develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, government and private sector customers. BIO-key mobile wireless technology provides first responders with critical, reliable, real-time data and images from local, state and national databases. The company's high-performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise data to improve security, convenience and privacy and to reduce identity theft. Over 2,500 police, fire and emergency services departments in North America use BIO-key solutions, making BIO-key the leading supplier of mobile and wireless solutions for public safety worldwide. (http://www.bio-key.com)
BIO-key Safe Harbor Statement
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. The words "estimate," "project," "intends," "expects," "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 Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, see "Risk Factors" in the Company's Annual Report on Form 10-KSB 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 also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
BioXS is an established and committed technical organization providing specialized Identity Management solutions to clients across Europe. Specializing in biometrics, BioXS distributes hardware and software in Switzerland, France, Germany, Great Britain and the Benelux region for BioKey, Memory Experts, Zvetco Biometrics, Precise Biometrics and many others. For additional information about BioXS, visit www.bioxs.com or call +31 (0) 26 372 4276.
About Zvetco Biometrics
Zvetco Biometrics is a manufacturer of best-in-class identity authentication hardware and provider of identity management solutions. Founded in 1999, Zvetco provides its customers in corporate enterprise, government, financial services, healthcare, gaming, food services and point-of-sale with cost-effective network security tools that prevent identity theft, increase accountability and eliminate the cost and inconvenience of password-based access. Zvetco Biometrics' VerifiT line of biometric products incorporates precision fingerprint-sensing technology into ergonomic computer peripherals that deliver unparalleled performance, reliability and convenience. Available in multiple form factors, Verifi products use advanced silicon technologies from AuthenTec and AuthenTec, offer a rugged, elegant design, a standard USB interface, enhanced security and convenience, private labeling and other custom options. Information about Zvetco and its products is available at www.ZvetcoBiometrics.com or by calling (407) 681-0111.
VerifiT is a trademark of Zvetco Biometrics, VSTT is a trademark of BIO-key International. All other trademarks, registered trademarks and service marks are the property of their respective owners.