OneSpan’s Intelligent Adaptive Authentication Helps Orange Money Romania Secure Remote Banking

Challenger bank uses OneSpan technology to optimize the customer experience while meeting PSD2 requirements for strong customer authentication 

CHICAGO and BUCHAREST, Romania – December 10, 2020 – OneSpan™, the global leader in securing remote banking transactions, today announced that mobile-only bank Orange Money, a subsidiary of Romania’s leading telecom provider Orange, has integrated OneSpan’s Intelligent Adaptive Authentication (IAA) with Risk Analytics to help fight online and mobile fraud. IAA enables Orange Money to secure its mobile banking application and authenticate mobile transactions while detecting and preventing against mobile malware. 

Using Intelligent Adaptive Authentication (IAA), Orange Money can protect its customers through a range of multifactor authentication technologies. IAA also offers pre-configured, customizable rule sets for threat detection together with AI-based machine learning, behavioral analysis and transaction risk analysis. IAA is built on OneSpan’s OneSpan’s Trusted Identity (TID) platform, which brings together a broad portfolio of technologies to enable real-time fraud detection through a modern set of cloud-based solutions. 

“As a mobile-only bank, innovative service delivery and a frictionless experience are paramount for us,” said Orange Money Head of Payments and Transactions, Mircea Spinei. “OneSpan brings deep industry expertise and a unique and effective approach to the challenge of balancing experience, security and regulatory requirements.” 

“The pandemic has fundamentally changed the way customers interact with their banks,” said OneSpan CEO, Scott Clements. “This new normal reinforces the need for banks to deliver services digitally in a secure and frictionless way. OneSpan’s technologies help banks and other financial institutions protect their customers from heightened threats while delivering an optimal customer experience at scale.”  

About OneSpan
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.

About Orange Money Romania
range Money is an alternative to traditional banking. As a mobile financial services app, Orange Money gives clients simple and easy-to-use options for local and international transfers, bill payments, top-ups, card payments and also contactless digital payments with Android or iOS devices. In 2020, the mobile application was used by 245,000 Romanian customers to complete 1.3 million transactions. 

Copyright© 2020 OneSpan North America Inc., all rights reserved. OneSpan™ is a registered or unregistered trademarks of OneSpan North America Inc. or its affiliates in the U.S. and other countries. Any other trademarks cited herein are the property of their respective owners.  

Media contacts:
Louise Harris
Public Relations Manager
OneSpan
[email protected]

Sarah Hanel
Global Director of Corporate Communications
OneSpan
+1-312-871-1729
[email protected]