OneSpan to Bring FIDO-Compliant Solutions to World’s Largest Banks with Nok Nok Labs Partnership
The partnership complements OneSpan’s existing support of the FIDO U2F standard and enables OneSpan to offer end-to-end FIDO-compliant solutions that meet both UAF and U2F standards
CHICAGO – June 28, 2018 – OneSpan (NASDAQ: OSPN), a global leader in digital identity security, transaction security and business productivity, today announced a partnership with Nok Nok Labs, the leader in next-generation authentication, that enables any mobile or online application to comply universally with FIDO standards including FIDO UAF (Universal Authentication Framework) and FIDO2. Nok Nok Labs selected OneSpan as a partner because of the company’s strength in fraud mitigation technology.
The OneSpan Mobile Security Suite (formerly DIGIPASS for Apps) with the Nok NokTM S3 Authentication Suite enables banks and financial institutions to offer secure mobile or online applications without compromising the user experience. This standards-based authentication ensures device interoperability while helping prevent fraud attacks by replacing static passwords with advanced authentication options, including biometrics.
Banks and financial institutions using the joint solution to build mobile applications ensure a secure, yet frictionless end-user experience plus additional fraud-detection, phishing-resistance and prevention benefits including geolocation, jailbreak and rootkit detection, device binding, device identification and application shielding with Runtime Application Self-Protection (RASP).
“Market forces are colliding as consumers and enterprises want more security and privacy with ease of use, while addressing global regulations such as PSD2 and GDPR,” said Nok Nok Labs CEO and President, Phillip Dunkelberger. “What better way to address these market demands than by combining the industry leader in financial services with innovation that includes a FIDO standards-based approach that won’t compromise on security, privacy and regulatory compliance; Nok Nok and OneSpan is a sum greater than the parts.”
“Nok Nok helped found the FIDO Alliance and is a pioneer in modern authentication, developing leading solutions that offer the industry’s most comprehensive approaches to authenticate users securely and with minimal friction,” said OneSpan CEO, Scott Clements. “Enabling a secure yet frictionless experience is in line with OneSpan’s customer-centric vision, and as such we endorse FIDO standards-based authentication as both a vendor and as a FIDO Alliance board member.”
This partnership will help support OneSpan’s launch of additional software, server and SDK support for the FIDO2 protocol later this year, complementing OneSpan’s support for FIDO standards through its existing Digipass SecureClick device and upcoming launch of the Digipass 785.
OneSpan enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. We do this by establishing trust in people’s identities, the devices they use, and the transactions that shape their lives. We believe that this is the foundation of enhanced business enablement and growth. More than 10,000 customers, including over half of the top 100 global banks, rely on OneSpan solutions to protect their most important relationships and business processes. From digital onboarding to fraud mitigation to workflow management, OneSpan’s unified, open platform reduces costs, accelerates customer acquisition, and increases customer satisfaction. Learn more about OneSpan at OneSpan.com and on Twitter, LinkedIn and Facebook.
About Nok Nok
Nok Nok provides organizations with a next-generation authentication platform for cloud, mobile and IoT applications that enables a strategic approach to identity & authentication that is vital to modern business. The Nok NokTM S3 Authentication Suite enables organizations to accelerate revenues, reduce fraud, and strengthen security and privacy. The S3 suite brings a unified approach to deploying easy-to-use, easy-to-deploy secure authentication infrastructure that includes support for and innovates beyond standards such as FIDO and other specifications. Nok Nok Labs is a founding member of the FIDO Alliance with industry leading customers and partners that include Ericsson, Facebook, Fujitsu Limited, Lenovo, Microsoft, NTT DATA, NTT DOCOMO, PayPal and Samsung. For more information, visit www.noknok.com.
Director of Global Corporate Communications
Merritt Group for Nok Nok Labs