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Orange Money Romania - OneSpan Intelligent Adaptive Authentication

How OneSpan Intelligent Adaptive Authentication Improved UX, Security and PSD2 Compliance

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Orange Money, a subsidiary of Romania's largest telecom provider Orange, utilizes OneSpan's Intelligent Adaptive Authentication (IAA) with Risk Analytics to help fight online and mobile fraud. In this presentation, given at the Hack Summit in December 2020, Orange Money and OneSpan talk about how the solution was implemented and how it has improved the user experience, increased security, and enabled compliance with PSD2. 

Speakers:

  • Michal Wawzrynski, OneSpan Account Executive, EMEA Sales – Nordics  
  • Mircea Spinei, Head of Transactions and Payments, Orange Money Romania

The mobile-only bank Orange Money, a subsidiary of Romania's largest 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 sign mobile transactions while detecting and preventing against mobile malware attacks. 

The global pandemic has created both opportunities and challenges for banks delivering services in the mobile channel. Near the start of the COVID-19 outbreak, Orange Money saw a substantial increase in both transactions and new customer acquisition. In tandem, cyberattacks against the financial sector rose by 238 percent. 

Using Intelligent Adaptive Authentication (IAA), Orange Money protects its customers with a range of multi-factor authentication technologies together with AI-based machine learning. The solution also offers pre-configured, customizable rule sets for threat detection, behavioral analysis, transaction risk analysis and orchestration of the customer experience. 

IAA with Risk Analytics is built on 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.