OneSpan Modernizes High Assurance Identity Security to Address Today’s Relentless Threats

November 3, 2022

Latest innovation extends OneSpan’s leadership in securing identities with the industry’s first cloud-configurable personal security device, ensuring integrity across customer interactions and transactions

CHICAGO--(BUSINESS WIRE)-- OneSpan™ (NASDAQ: OSPN), the digital agreements security company, today announces its latest high-assurance identity verification and authentication devices designed to increase the security, confidence, and trust that has become vital to the way we interact and complete digital transactions of consequence. OneSpan’s new cloud-connected DIGIPASS CX devices bring the highest level of assurance to the ever-growing problem of identity and credential theft and the increasing focus of relentless cyber adversaries.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221103005559/en/

OneSpan’s new cloud-connected DIGIPASS CX devices bring the highest level of assurance to the ever-growing problem of identity and credential theft. (Graphic: Business Wire)

In today’s anywhere economy, integrity and trust are under attack. Identity theft and credential theft continue to accelerate year on year, with both consumers and employees being targeted. These attacks can cause reputational damage, customer churn, and billions lost in revenue. Traditional authentication approaches -- that rely on usernames and passwords and even multifactor authentication based on email or SMS -- are increasingly at risk as they have been proven to be easily compromised and are often dependent on users making informed security decisions. These approaches create friction and abandonment during login and the completion of day-to-day transactions and are the focus of social engineering, adversary-in-the-middle, keylogging, credential stuffing, smishing, brute-force, and other common attacks. OneSpan’s newest personal security devices deliver the next generation of high-assurance identity and authentication while simultaneously providing users with a streamlined experience designed to drive adoption and customer satisfaction.

When applied across the entire customer transaction lifecycle, including the recently announced Virtual Room cloud service, DIGIPASS CX devices both simplify and secure user experiences, enabling continuous identity and authentication protection across all customer interactions.

“As the era of Web 3.0 continues to evolve, many organizations are ill-equipped for this next phase of the internet, and the accompanying global crisis happening with identity and credential theft that has remained nearly unstoppable,” said Matthew Moynahan, President and CEO at OneSpan. “Solutions based on legacy hardware devices are no longer relevant today because they do not provide continuous and connected security, and they are not woven throughout the entire transaction journey. That’s why current solutions won’t stand up in the era of Web 3.0. We aren’t securing endpoints anymore; we are securing digital processes and customer interactions requiring continuous authentication and identity verification - no matter where that interaction takes place.”

OneSpan has reimagined how organizations can deploy and maintain high-security devices, recognizing that customers need the flexibility to activate new features, customize user journeys, and modify configurations or security parameters as their user experience and security requirements evolve. Secure connectivity empowers organizations to update the DIGIPASS CX devices even after they have been deployed and distributed. This manageability is critical in an environment where enterprises must adapt quickly to evolving technology, changing business needs, and the threat of ever-more sophisticated attacks.

“There is a war on trust and integrity in the world. Whether it is fake news or deep fakes, trust in our systems is fracturing. That foundation of trust – that we can be confident that a user, information, a transaction, an agreement is legitimate – is central to our social fabric, to the economy, and to the internet,” said Michael Klieman, Chief Product Officer at OneSpan. “OneSpan’s mission, the focus of our entire portfolio, and the purpose of our new cloud-connected personal security devices is to restore trust and confidence in today’s most critical customer experiences and ensure that their integrity is never in question.”

Using DIGIPASS CX, customers will be able to:

Log in or authorize transactions and agreements anytime, anywhere – on a desktop, laptop or smartphone;
Use high-security fingerprint biometrics and other methods to ensure the integrity of authentication in high-value transactions and agreements;
Select from multiple authentication protocols including the OneSpan secure DIGIPASS® protocol and industry standard FIDO2 and OATH;
View and verify contextual transaction details before signing;
Trust that all transaction information is protected with OneSpan’s secure channel and on-device secure element;
Securely authenticate participants throughout the customer transaction lifecycle, such as with video-assisted transactions and agreements using OneSpan's Virtual Room.

DIGIPASS CX is expected to be generally available in the second quarter of 2023. For more information on OneSpan DIGIPASS CX, visit here.

About OneSpan

OneSpan helps organizations accelerate digital transformations by enabling secure, compliant, and refreshingly easy customer agreements and transaction experiences. Organizations requiring high assurance security, including the integrity of end-users and the fidelity of transaction records behind every agreement, choose OneSpan to simplify and secure business processes with their partners and customers. Trusted by global blue-chip enterprises, including more than 60% of the world’s largest 100 banks, OneSpan processes millions of digital agreements and billions of transactions in 100+ countries annually.

For more information, go to www.onespan.com. You can also follow @OneSpan on Twitter or visit us on LinkedIn and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221103005559/en/

Media Contact
Nicole Bosgraaf
Senior PR Manager
+1-401-219-2131
nicole.bosgraaf@onespan.com

Investor Contact
Joe Maxa
Vice President of Investor Relations
+1-312-766-4009
joe.maxa@onespan.com

Source: OneSpan Inc.