OneSpan to Service Swedbank’s 1 million Customers

OneSpan (NASDAQ:OSPN), cybersecurity company has partnered with Swedbank to protect its user accounts and online transactions from social engineering attacks. Through applying OneSpan’s Cronto security solution, one million of Swedbank’s customers are further protected with its encrypted transaction features across mobile and PC banking.

As quoted in the press release:

Cronto improves Swedbank’s login and transaction signing experience, allowing customers to simply scan and then enter a six-digit code to sign a transaction. In addition, the solution enables the bank to comply with the PSD2 authentication and dynamic linking requirements.

“We continuously evaluate, refine and update our IT solutions in parallel with technology development, to provide our customers with banking solutions and services that deliver a smooth and secure customer experience,” said Swedbank Information Security Manager, Peter Lundin. “OneSpan is a great partner to deliver on our goals given the company’s proven track record within the financial industry and its future-forward Cronto technology.”

“Banks face a threat landscape that continues to evolve with social engineering enduring as a popular technique,” said OneSpan CEO, Scott Clements. “Financial institutions like Swedbank are working with OneSpan and choosing our innovative technologies to prevent attacks while addressing regulatory compliance requirements.”

Click here to read the full press release.