Newly rebranded OneSpan partners with Nok Nok Labs for bank app authentication solution
Digital identity security company OneSpan has partnered with Nok Nok Labs to provide banks and financial institutions with fraud mitigation capabilities for mobile or online applications compliant with FIDO standards, including FIDO UAF (Universal Authentication Framework) and FIDO2.
By offering the OneSpan Mobile Security Suite (formerly known as DIGIPASS for Apps) with the Nok Nok S3 Authentication Suite as an end-to-end authentication solution, OneSpan enables banks to build mobile applications with frictionless biometric authentication for any device. The joint solution provides capabilities for fraud detection, phishing resistance, geolocation, jailbreak and rootkit detection, device binding, device identification, and application shielding with Runtime Application Self-Protection (RASP), according to the announcement.
“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.”
OneSpan was known until recently as VASCO, and changed its name after adding intelligent adaptive authentication technology with the acquisition of DealFlo. It followed up the rebranding by launching its OneSpan Trusted Identity Platform.
“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.”
OneSpan says it will launch new software, server, and SDK support for the FIDO2 protocol later this year, which the partnership will help support.
Dunkelberger told Biometric Update earlier this year that a perfect storm is forming for rapid and widespread adoption of FIDO2 and its WebAuthn specification.