Benzinga | Aug 5, 2020 08:21AM EDT

BIO-key International Announces That Clearent Has Selected Co.'s PortalGuard Identity And Access Management Solution

WALL, N.J., Aug. 05, 2020 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ:BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today announced that Clearent, LLC selected BIO-key's PortalGuard IAM solution to secure customer self-enrollment, account recovery and online access to its banking applications. Clearent is one of the fastest-growing credit card processing companies, processing $14 billion in annual transaction volume for 45,000 plus merchants nationwide. Clearent customers will also benefit from the security and convenience of PortalGuard's Single Sign-on functionality utilized by customers for frictionless access to the Clearent's payment portal.

Clearent opted to use PortalGuard to replace its prior identity application. BIO-key's PortalGuard IAM solution offered advanced transaction security, user account management features, and a more cost-effective licensing model for Clearent's internal system security and tens of thousands of users. During the engagement, PortalGuard provided security consulting services to offer a tailored authentication solution to address specific account recovery requirements.

"Every financial institution manages the delicate balance between security and convenience to remain competitive," stated Mike DePasquale, Chairman & CEO, BIO-key. "The PortalGuard IAM platform offers organizations the ability to deliver flexible and secure solutions that scale without interrupting the customer experience. We also offer robust multifactor authentication options, including biometric authentication, providing our customers with the strongest cybersecurity capabilities available today."