BIO-key International, Inc. (NASDAQ: BKYI) saw a significant uptick in its stock price, climbing 66.42% during regular trading to close at $2.28, followed by an additional 8.77% increase in extended trading to $2.48. This impressive performance stems from the announcement of a major adoption of BIO-key’s platform by a prominent client.
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Landmark Partnership with National Bank of Egypt
The largest financial institution in Egypt, the National Bank of Egypt (NBE), has embraced BIO-key’s PortalGuard Identity and Access Management (IAM) platform. The project, which was carried out in partnership with Raya Information Technology, incorporates cutting-edge Single Sign-On (SSO) and Multi-Factor Authentication (MFA) technologies to improve security and expedite access for NBE’s 30,000 workers.
Raya Information Technology, a trusted reseller certified in BKYI technologies, oversees the deployment, ensuring seamless implementation and coordination among technology vendors.
Enhancing Security and Operational Efficiency
The PortalGuard platform provides a unified IAM solution, enabling secure access to critical systems while simplifying workflows. By integrating SSO, employees no longer need to manage multiple credentials, significantly enhancing efficiency. Additionally, MFA ensures compliance with rigorous industry security standards. This innovative framework positions NBE to safeguard its operations and scale its services for millions of customers in the future.
Driving Innovation Across the Middle East and Africa
This collaboration underscores BIO-key’s role in addressing the region’s growing demand for advanced cybersecurity solutions. The partnership with Raya Information Technology highlights the potential of BKYI’s technology to drive security and scalability for organizations.
By empowering NBE with robust authentication solutions, BIO-key reinforces its leadership in the IAM market across the Middle East and Africa. The NBE deployment exemplifies how strategic partnerships can transform organizational security, delivering long-term value for stakeholders and strengthening trust in digital innovation.