OneSpan honored for real-time fraud detection capabilities, intuitive UX
OneSpan‘s Intelligent Adaptative Authentication was named Best Fintech Solution as part of the 2019 SIIA CODiE Awards. The peer-reviewed program was developed to showcase business and education technology’s finest products and services. A CODiE Awards win shows strong market validation for a product’s innovation, vision and overall industry impact.
The OneSpan solution enables real-time fraud detection for banks by using AI-based machine learning and pre-configured, customizable rule sets to analyze and score transaction data. Data analysis of user behavior, mobile devices, mobile applications and real-time transactions enables financial institutions to apply precise levels of security to transactions while minimizing friction.
“Financial institutions have long faced the challenge of striking the right balance between fraud prevention, customer experience and compliance,” says OneSpan CEO, Scott Clements. “Intelligent Adaptative Authentication enables financial institutions to simultaneously reduce fraud and elevate the customer experience. Awards like the CODiEs reinforce OneSpan’s innovation and leadership in solving fraud issues globally.”
Earlier this month OneSpan launched a Secure Agreement Automation cloud solution to reduce fraud in the digital account opening process by combining an identity verification hub with facial biometrics, eSignature workflow, and an end-to-end audit trail with open APIs.