BIO-key Secures $910,000 Order to Upgrade Long-Time Financial Services Customer to Enhanced Biometric Customer Identification Technology

Core Insights - BIO-key International, Inc. has received a $910,000 order from a long-term financial services customer to upgrade to its "fingerprint only" Biometric Customer Identification Technology [1][2] - The upgrade will streamline customer verification processes, allowing identification through a simple fingerprint scan, eliminating the need for cards or account numbers, and saving approximately thirty seconds per client encounter [2][3] - Following the full deployment of the enhanced solution in 2025, BIO-key anticipates an increase in annual recurring revenue (ARR) from this customer to approximately $1.4 million [4] Company Technology and Strategy - The new identification solution will be hosted on Amazon Web Services (AWS) to support real-time, one-to-many biometric identification, enhancing the existing verification process [3] - The financial services customer aims to provide a superior client experience and protect against fraud by leveraging advanced biometric technology [5] - BIO-key's technology is designed to secure access for over forty million users, offering various authentication options including phoneless, tokenless, and passwordless solutions [5]