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BIO-key provides fingerprint authentication system for financial firm

BIO-key International, Inc. announced that an international retail and commercial financial services firm, whose name it did not reveal, has selected BIO-key to provide the fingerprint biometric matching for their customer and employee identification solution.

The retail and commercial bank will use BIO-key biometric technology to automatically and accurately identify their nearly seven million clients at any of the 7,000 contact points in their branches.

The bank also plans to use the software to control access for employees to sign into their banking systems.

Using BIO-key’s solution allows the institution to give customers confidence that their identity is secured against fraud and misidentification.

“This forward-thinking financial institution was one of the first in the world to leverage fingerprint biometrics to secure their clients’ identities against theft and fraud,” said Jim Sullivan, BIO-key VP of strategy and business development. “They were able to demonstrate to their clients the advantages of using fingerprint data — nothing more than a measurement of unique traits that an imposter will not match — to increase their clients’ security and offer paperless transactions.

“When the time came to upgrade their legacy fingerprint engine, we were pleased that their extensive experience with fingerprint technology led them to the conclusion that BIO-key was the right choice for them to count on.”

Previously reported, BIO-key International, Inc. reported record financial results for its fourth quarter and year ended December 31, 2014, with a revenue growth of 102% over 2013 while maintaining administrative expenses at less than 2% above 2013 levels.

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