NY Regional Bank Selects BIO-key Biometric Authentication

Bio-Key International (NASDAQ:BKYI) announced that a regional bank serving customers throughout Long Island and New York City boroughs has selected Bio-Key’s solution to comply with cybersecurity law as set by Department of Financial Services.

The company said that the regional bank will use Bio-Key’s multifactor biometric sign-in solution for use by its employees accessing computer devices and connected applications.

As quoted in the press release:

The BIO-key solutions are intended to ensure compliance with the multifactor authentication requirements of the New York State Department of Financial Services Cybersecurity Requirements for Financial Services Companies – (23 NYCRR 500).

The bank selected BIO-key’s ID Director software solution to add secure and convenient fingerprint biometric authentication to their Windows platform. ID Director integrates with Microsoft’s Active Directory network access platform, delivering biometric single sign-in capabilities enabling employees to securely access banking applications, email, fraud and risk management applications such as Verafin and Centrix, and the KACE systems management ticketing system.

The bank is also integrating BIO-key’s highly accurate, Federal Information Processing Standard Publication 201 (FIPS 201) compliant PIV-Pro fingerprint scanners to secure access to each computing device.

BIO-key Chairman and CEO, Mike DePasquale, commented, “Regulatory compliance is a compelling driver for implementing cybersecurity solutions in highly regulated industries. We are also learning that banks and other financial institutions are increasingly recognizing that adjusting passwords from eight to fourteen characters is not the answer to their complex security needs. Specifically, many companies are finding longer passwords actually inhibit workflow and sound business practices, motivating them to consider more secure and less cumbersome multi-factor authentication including biometrics.

“We are pleased to have been selected for this deployment and look forward to providing the bank with our secure, yet convenient multi-factor authentication solutions to support their objective of maintaining compliance with the New York State Department of Financial Services Cybersecurity Law,” added DePasquale.

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