OneSpan Joins the National Cyber Security Alliance

OneSpan (NASDAQ:OSPN) announced on Monday that it has joined the National Cyber Security Alliance on the Data Privacy Day, an annual international effort to increase the awareness about the privacy, safeguarding data and enabling trust.

As quoted in the press release:

As a Champion, OneSpan takes responsibility for being a conscientious steward of personal information while also developing new tools to fight data theft.

Two new cloud-based solutions from OneSpan, Intelligent Adaptive Authentication and Risk Analytics, act to safeguard and help stop the abuse of previously stolen data. With data as today’s currency, stopping its fraudulent use devalues it and removes the incentive for its use by fraudsters for application fraud and identity theft.

According to the Verizon 2018 Data Breach Investigations Report, the leading cause of data breaches are attacks against identity. As the rate and severity of data breaches increases, OneSpan is taking an active role in helping financial institutions protect their customers against fraud using ID verification, mobile security, intelligent adaptive authentication and risk analytics to accurately detect known and emerging fraud and assign trust to users, devices and transactions across digital channels.

“Passwords and personal identifiable information are almost guaranteed to be exposed in ever increasingly sophisticated and frequent data breaches,” said OneSpan CEO, Scott Clements. “It’s more important than ever to secure and protect the entire digital customer journey, and the data captured within, by taking a layered approach to security. This helps capture and analyze multiple complementary authentication factors and correlational data to establish trusted identities, devices and transactions. This is how we help our global banking customers – by making it harder for cybercriminals to capture data and commit fraud.”

Click here for the full text release.