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OneSpan

One Platform to Secure Your Digital Customer Journeys

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121 W Wacker Drive, Suite 2050
Chicago, IL, 60601, United States
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OneSpan offers advanced digital transformation services for financial institutions and other organisations.

To help clients succeed, OneSpan establishes trust in people’s identities, devices and transactions – actions critical for enhanced business enablement and development.

OneSpan’s solutions are used for the protection of important relationships and business processes of more than 10,000 customers, including half of the world’s top 100 banks. The company’s unified open platform is designed for a number of applications, including fraud mitigation and workflow management. It is designed to reduce costs, accelerate customer acquisition and increase customer satisfaction.

Unified platform for increased customer acquisition

Our platform offers increased customer acquisition and retention with the use of digital transformation, as well as fraud mitigation.

Intelligent fraud prevention aims to dynamically apply the required amount of security for each interaction in real time. The solution uses competitive advantage to forge stronger relationships with customers, which can increase retention and elevate lifetime customer value.

For increased customer transactions, fully digital processes are used in place of manual ID verification, paper forms and ink signatures. Our platform features a frictionless user experience, with unprecedented convenience for online and mobile banking that does not compromise security.

Cloud-based fraud mitigation for retail banking

With constantly changing policies, our unified fraud mitigation solution is designed to meet the latest industry-specific regulations.

The Cloud-based platform comprises sophisticated technologies for enhanced protection on a single, modular platform, enabling powerful security solutions.

Security platform for mobile and digital banking

OneSpan’s platform protects mobile and digital banking channels using a range of processes, including risk analytics and machine learning on an open-architected platform.

The platform features an extensive range of mobile, biometrics and hardware authenticators, which are aimed at delivering strong and cost-effective security. It also features various identity verification services, including ID document caption, as well as facial comparison for new customer applications.

E-signatures allow our clients to automate signing workflows, capturing their customer’s consent with secure, legally binding signatures, either in the Cloud or on-premises.

Highly secure banking platforms

We offer mobile app security, which protects the integrity of the app and the device from fraud. Advanced risk analytics make use of machine learning, which is designed to better detect fraud in real-time.

Our open, Cloud-based trusted identity platform (TID) serves as the foundation for a range of unique solutions that secure digital interactions across channels.

Security and e-signature expert services

With extensive experience in banking, insurance and government deployment, OneSpan works with some of the largest and most security-conscious organisations worldwide. The in-depth knowledge of regulated markets has provided the company with the expertise to help keep customer information safe. More than 50% of our clients have been with us for over ten years.

If you would like to learn more or have questions and wish to speak to a representative, please complete the enquiry form and we will contact you shortly.

Enabling PSD2-Compliant Fraud Monitoring with OneSpan Risk Analytics

On 27 November 2017, the European Commission adopted the Regulatory Technical Standards (RTS) for Strong Customer Authentication (SCA) and Common and Secure Open Standards of Communication, supplementing the Revised Payment Services Directive (PSD2). Our white paper provides Payment Service Providers (PSPs) with an analysis of the impact these requirements have on the digital retail channel. We review the main aspects of the RTS and recommend how PSPs should establish their fraud prevention and risk analysis strategy. Finally, we highlight the solutions best suited to achieve compliance and beyond.

More Regulations on the Horizon for Banks as Pandemic Exposes Security and Identity Verification Deficiencies

OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today released the inaugural OneSpan Global Financial Regulations Report. The report examines regulatory and legislative initiatives impacting financial services globally in fraud prevention, digital identity, data protection, payments, Open Banking, e-signatures and more. Governments around the world are considering and enacting laws, policies and regulations to enable and protect digital transactions and commerce, with the global COVID-19 pandemic further increasing the focus on remote banking, telehealth and other remote alternatives for essential activities. This is in large part due to the pandemic having exposed shortcomings in the current security, data management and privacy policies of financial institutions and others. At the same time, the race to digitize the industry to keep pace with evolving customer expectations and competition is also driving rapid regulatory change. As a result, there will likely be more data privacy and data protection laws enacted throughout the world, each bringing unique regulatory requirements for financial institutions. To help financial services leaders navigate the uncertainty, the OneSpan Global Financial Regulations Report includes guidance on the following trends: Artificial Intelligence is under increasing scrutiny as adoption grows: Regulators and governments worldwide are grappling with the creation of frameworks for the development and application of AI that focus on data protection and privacy, as well as the ethical and transparent use of the data. Digital identities and remote account openings are gaining traction worldwide: Regulators in Hong Kong, Pakistan, Greece, Macedonia, Mexico and Turkey approved remote bank account openings in 2020 – a clear indicator that even processes rooted in traditional face-to-face meetings in the branch are now going digital and touchless around the globe. Open Banking is growing rapidly throughout the world: As third-party providers (TPPs) are allowed to use banking information to help consumers save money, borrow more easily and pay efficiently, banks will increasingly work with TPPs. In the U.S., the Consumer Financial Protection Board (CFPB) issued an Advanced Notice of Proposed Rulemaking on consumer authorized access to financial data, which could be the catalyst for Open Banking in America. Facial recognition is driving the greatest changes to banking regulations: As banks increasingly use facial recognition technology for Identity Verification requirements, they are housing large amounts of consumer biometric data. Standards organizations such as the National Institute of Standards and Technology (NIST) and Fast IDentity Online (FIDO) Alliance are developing frameworks that could be adopted at the national level and would stipulate how banks protect and store their customers’ biometric data. Regulation is on the way for cryptocurrencies: As digital banking platforms have experienced massive growth, many governments and industry bodies worldwide have begun to look to Central Bank Digital Currencies (CBDCs) and cryptocurrencies in terms of what they might add to the financial sector. This has resulted in new and refreshed conversations around the possible uses of CBDCs and cryptocurrencies. “The COVID-19 pandemic has presented financial institutions with major economic and operational challenges and accelerated the need for digital transformation at the same time as the industry grapples with an increasingly complex global regulatory environment,” said OneSpan CEO, Scott Clements. “OneSpan’s inaugural Global Financial Regulations Report will arm banks and financial institutions with information they need to both be compliant and sustain their competitive position.” Download a copy of the full report here.

19 November 2020

Headquarters

121 W Wacker Drive, Suite 2050 Chicago, IL, 60601, United States

Zurich

Balz-Zimmermannstrasse 7 8152 Glattbrugg Postfach 8058 Zürich-Flughafen Switzerland

Montreal

8200 Decarie Blvd, Suite 300 Montreal, QC, H4P 2P5, Canada

Brussels

Romeinsesteenweg 564 C Strombeek-Bever, 1853, Belgium

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