BIO-key Gets Big New Client as Sense of Urgency Rises Over Data Breaches

“The growing scope of security breaches is making the need for action increasingly clear, and we are seeing this in our customer dialogues, in the pace of inbound inquiries, and importantly in the shortening of the sales cycle in more and more customer dialogues.” -Mike DePasquale, CEO, BIO-key

BIO-key has won a new client in the insurance industry, the company has announced.

In a statement, BIO-key declined to specifically name the client, but referred to it as “a U.S. insurance provider focused on retirement products including annuities and fixed income, with total assets of nearly $250 billion”. The client is planning to enable stronger authentication for employees accessing its digital assets with BIO-key’s EcoID fingerprint readers, which are USB devices designed to work with Windows 10’s Windows Hello biometric authentication system right out of the box.

Coincidentally or not, the insurance provider’s move to biometric security comes in the wake of this month’s Equifax breach and other recent high profile hack attacks, suggesting there is a growing awareness of the need for more sophisticated digital security in the enterprise. Commenting on the trend, BIO-key CEO Mike DePasquale said, “The growing scope of security breaches is making the need for action increasingly clear, and we are seeing this in our customer dialogues, in the pace of inbound inquiries, and importantly in the shortening of the sales cycle in more and more customer dialogues.”

The deal comes shortly before DePasquale’s scheduled presentation at the Sidoti & Company Fall 2017 Conference next week, where it could help to further burnish the BIO-key pitch to potential investors.

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September 19, 2017 – by Alex Perala