OneSpan to Bring FIDO-Compliant Solutions to World’s Largest Banks

OneSpan (NASDAQ:OSPN), leader in digital identity security, transaction security and business productivity announced a partnership with Nok Nok Labs.

The partnership with Nok Nok Labs, leader in next generation authentication enables any mobile or online application to comply universally with FIDO standards including FIDO UAF (Universal Authentication Framework) and FIDO2.

As quoted in the press release:

Nok Nok Labs selected OneSpan as a partner because of the company’s strength in fraud mitigation technology.

The OneSpan Mobile Security Suite (formerly DIGIPASS for Apps) with the Nok Nok™ S3 Authentication Suite enables banks and financial institutions to offer secure mobile or online applications without compromising the user experience. This standards-based authentication ensures device interoperability while helping prevent fraud attacks by replacing static passwords with advanced authentication options, including biometrics.

Banks and financial institutions using the joint solution to build mobile applications ensure a secure, yet frictionless end-user experience plus additional fraud-detection, phishing-resistance and prevention benefits including geolocation, jailbreak and rootkit detection, device binding, device identification and application shielding with Runtime Application Self-Protection (RASP).

“Market forces are colliding as consumers and enterprises want more security and privacy with ease of use, while addressing global regulations such as PSD2 and GDPR,” said Nok Nok Labs CEO and President, Phillip Dunkelberger. “What better way to address these market demands than by combining the industry leader in financial services with innovation that includes a FIDO standards-based approach that won’t compromise on security, privacy and regulatory compliance; Nok Nok and OneSpan is a sum greater than the parts.”

“Nok Nok helped found the FIDO Alliance and is a pioneer in modern authentication, developing leading solutions that offer the industry’s most comprehensive approaches to authenticate users securely and with minimal friction,” said OneSpan CEO, Scott Clements. “Enabling a secure yet frictionless experience is in line with OneSpan’s customer-centric vision, and as such we endorse FIDO standards-based authentication as both a vendor and as a FIDO Alliance board member.”

This partnership will help support OneSpan’s launch of additional software, server and SDK support for the FIDO2 protocol later this year, complementing OneSpan’s support for FIDO standards through its existing Digipass SecureClick device and upcoming launch of the Digipass 785.

Click here for the full text release.