Partnership Between Global Fintech Leaders OneSpan and Avaloq Helps Financial Institutions Prevent Fraud
Two leaders combine their strengths to arm financial institutions to stop account takeover, mobile malware, social engineering and other attacks
CHICAGO and ZURICH – July 16, 2019 – OneSpan™ (NASDAQ: OSPN), a global leader in software for trusted identities, e-signatures and secure transactions, today announced that Avaloq, a global fintech leader and provider of software as a service (SaaS) and business process as a service (BPaaS) solutions to financial institutions processing more than $4.5 trillion in assets, has integrated OneSpan solutions into its cloud-based banking platform. These integrations make it faster and more convenient for banks to connect OneSpan’s anti-fraud solutions to their core banking systems using open APIs to secure access, transactions and identities.
OneSpan’s solutions now form part of Avaloq’s overall authentication solution and are integrated into Avaloq’s platform, which is used by top banks including HSBC, Barclays, Royal Bank of Scotland, Deutsche Bank and Societe Generale. OneSpan’s integration allows banks to easily add mobile authentication, transaction signing and multifactor authentication.
“We are happy to strengthen our ecosystem by partnering with an industry leader like OneSpan,” said Avaloq CTO, Thomas Beck. “Thanks to this joint power, we are able to better serve our clients with innovative solutions that help banks and wealth managers reduce the time and cost of an implementation.”
The partnership with Avaloq builds on OneSpan’s strategic global alliances program to connect the world’s leading integrators and third-party technologies with OneSpan’s Trusted Identity (TID) platform. TID brings together OneSpan’s broad portfolio of security technologies to enable real-time fraud detection through a cloud-based, open API platform that helps prevent fraud and hacking attacks against the world’s leading financial institutions.
“Avaloq is a strategic fit for OneSpan given our crossover in customer accounts, mutual focus on financial institutions and the increased demand for embedding our security solutions in core banking platform services,” said OneSpan’s Vice President of Global Alliances, Xavier Juredieu. “We have already seen quick adoption in Switzerland and Germany and will soon expand worldwide to meet the needs of Avaloq’s customers.”
OneSpan’s solutions will be available through avaloq.one, Avaloq’s intuitive and collaborative platform designed to connect fintechs and their solutions with financial institutions using the Avaloq Banking Suite.
About Avaloq: essential for banking
Avaloq is driving the digital transformation and automation of the financial services industry.
Based on our fully integrated banking software, we create powerful digital experiences provided through a standardized Business Process as a Service (BPaaS) or Software as a Service (SaaS) model to banks and wealth managers. Our solutions give financial institutions the freedom to focus on channel and product innovation, client service, client trust and growth, while Avaloq ensures a seamless operation behind the scenes. More information is available at www.avaloq.com.
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 Twitter, LinkedIn and Facebook.
Frauke De Graeve
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