OneSpan Awarded Company of the Year from Frost & Sullivan for its Digital Identity and Risk-Based Authentication Platform
The COVID-19 pandemic is driving demand for technologies that enable remote banking and customer onboarding
CHICAGO – June 11, 2020 – OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced it has received the Company of the Year Award from Frost & Sullivan for Best Digital Identity and Risk-Based Authentication Platform. Frost & Sullivan analysts lauded OneSpan’s comprehensive solution portfolio, close collaboration with partners and focus on customer experience.
OneSpan’s Trusted Identity (TID) platform brings together a broad portfolio of technologies to enable real-time fraud detection through a modern set of cloud-based solutions. One of the solutions, Intelligent Adaptive Authentication (IAA), uses a variety of multi-factor authentication technologies together with AI-based machine learning and pre-configured, customizable rule sets for threat detection, behavioral analysis, transaction risk analysis, and orchestration of the end user experience. Financial institutions can use IAA to help detect and prevent fraud, meet regulatory compliance requirements, while minimizing end-user friction.
In its report analyzing OneSpan’s TID platform, Frost & Sullivan recognized the company’s unique technologies as a clear differentiator, as well as its customer-focused strategies and strong overall performance. The analyst firm stated that cybercriminals are capitalizing on the COVID-19 pandemic, with phishing attacks leading to breaches and account takeover fraud. OneSpan’s technologies protect against these and other fraudulent activities across online and mobile channels.
“OneSpan’s TID platform provides digital identity verification and risk-based authentication solutions equipped with anti-fraud and e-signature capabilities to combat the ever-evolving hacker model,” said Frost & Sullivan Industry Analyst, Danielle VanZandt. “OneSpan’s TID platform layers important variables, such as multi-factor credentialing, behavior monitoring, and advanced adaptive authentication, and automatically generates industry compliance reports.”
“The pandemic has simultaneously accelerated adoption of remote banking and losses from identity fraud,” said OneSpan CEO, Scott Clements. “Our Trusted Identity solutions which enable global banks and financial institutions to securely onboard customers, prevent fraud and improve the customer experience for remote banking transactions.”
To view and download the report, please visit https://www.onespan.com/resources/frost-sullivan-2020-best-practices-award.
OneSpan helps protect the world from digital fraud by establishing trust in people’s identities, the devices they use and the transactions they carry out. We do this by making digital banking accessible, secure, easy and valuable. OneSpan’s Trusted Identity platform and security solutions significantly reduce digital transaction fraud and enable regulatory compliance for more than 10,000 customers, including over half of the top 100 global banks. Whether through automating agreements, detecting fraud or securing financial transactions, OneSpan helps reduce costs and accelerate customer acquisition while improving the user experience. Learn more at OneSpan.com.
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Frauke De Graeve
Public Relations Manager
+32 497 14 80 47
Global Director of Corporate Communications