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BIO-key will modernize Mozambique’s national payments network with biometric IAM, passwordless authentication, and Zero Trust security solutions.
BIO-key International, Inc. (NASDAQ: BKYI) announced that they have entered into a new, multi-year agreement with Sociedade Interbancária de Moçambique (SIMO) for the upgrade of identity and access management (IAM) and, security across Mozambique’s national payments network. This agreement demonstrates the continuing need for IAM for digital banking transformation, with a particular emphasis on biometric authentication in support of security for financial services.
BIO-key will provide their PortalGuard® IAM Platform, including tokenless and passwordless authentication within the scope of the agreement. The intent of BIO-key's IAM Platform is to increase governance capabilities, improve operational resilience, and enable Zero Trust Security Architecture for the national payment network. Additionally, this solution will establish secure access for all banks and institutions interconnected through SIMOREde, as well as enhance user experience by expediting customer access to products and services while soliciting customers’ satisfaction.
The multi-factor authentication (MFA), phishing-resistant passwordless authentication solutions, and enterprise IAM modernization in these markets will all be powered through Project Runlevel with Run-Level, a regional cybersecurity company specializing in the delivery and implementation of multi-factor authentication (MFA) solutions for banking compliance. This expands upon the previous successful IAM deployment in Mozambique, which occurred in 2025. As digital banking continues to expand within the 36.6 million people living in Africa, there is a growing demand for identity-first security strategies in financial infrastructure and for improved cyber resilience regarding interbank payment systems. SIMO's objectives are to achieve enhanced regulatory compliance, interoperability, and secure digital business practices across Africa.
This agreement with BIO-key is the eleventh (11th) customer of BIO-key's cloud-based IAM platform in the banking market, supporting their continued expansion into Africa by providing biometric-based cybersecurity solutions and IAM platforms for financial institutions. This agreement provides further opportunities for Project Run-Level's partner, Run-Level, to assist in the growth of biometrics as a service (BaaS) by providing additional customer experiences through the provision of identity-based security.
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