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Why BIO-Key International (NASDAQ: BKYI) Stock Dropping Today?

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Shares of BIO-Key International, Inc. (NASDAQ: BKYI) traded down 0.97% during the trading session of Wednesday. The security and protection services provider has announced that Marion Technical College located in Marion, Ohio has chosen the Identity and Access Management (IAM) solution of BIO-Key.

Marion College has selected the BIO-Key’s IAM to provide cost-effective and secure Two-Factor Authentication (2FA) and seamless Single Sign-On (SSO) for mission-critical applications and data. The Ohio-based Technical College aimed to offer students, administration, and faculty a secure way to access the applications such as Canvas LMS, and Office 365 and to provide them a good experience.

This new security solution of BIO-Key is helpful for College and makes the college function better. Before implementing this security solution, many users in college have multiple usernames and passwords. And it frustrated the users in College and costs too much to college.

It was very important to give end-users with two-factor authentication as an effective countermeasure against cybercriminals and unauthorized access to accounts because a single set of credentials allows access to so many systems which frustrated the users of the college.

BIO-Key International, Inc. (NASDAQ: BKYI) shares were trading down -0.97% at $0.45 at the time of writing on Wednesday. BIO-Key International, Inc. (NASDAQ: BKYI) share price went from a low point around $0.35 to briefly over $2.58 in the past 52 weeks, though shares have since pulled back to $0.45. BKYI market cap has remained high, hitting $28.57 million at the time of writing.

The SSO and 2FA combination will be very helpful for Marion Technical College as this solution will offer more security and protect the critical data of the user.  A safe and supportive learning environment is helpful for the students as well.

 

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