VASCO Launches Trusted Identity Platform, Acquires Dealflo for $55M, Rebrands as OneSpan


What’s in a name? A lot, it turns out.

VASCO has just launched the OneSpan Trusted Identity (TID) platform, a cloud-based, open-architecture platform with fraud analytics, authentication, application security and orchestration of a broad range of anti-fraud technologies, including those of customers and third parties. The cloud-based, open-architecture platform lets banks and enterprises cut onboarding and transaction-related fraud, deliver a frictionless customer experience, and integrate future innovations and service expansions.

To reflect its strategy of supporting and securing its customers’ ongoing service expansion, the company has officially rebranded as OneSpan with the motto: “Be bold. Be secure.”

“The Trusted Identity platform provides a single foundation that spans the needs of our customers today and into the future, while our name change underscores a generational evolution in our strategy,” said OneSpan CEO Scott Clements.

Its first announced cloud solution for OneSpan’s TID platform is Intelligent Adaptive Authentication, which lets organizations apply the precise level of security a given transaction or other user interaction requires while optimizing the user’s experience. It analyzes user behaviors, devices, mobile application data and real-time transactions, then applies AI, ML and rule sets to assess and score risk.

OneSpan has also just acquired onboarding provider Dealflo for approximately $55.5 Million cash. More than half of Dealflo’s customers are also OneSpan customers, including organizations such as BMW, Santander, BNP Paribas and Mercedes Benz. OneSpan’s digital identity security, transaction security and business productivity solutions are used by thousands of customers including more than half of the top 100 banks and FI’s.

 

 

Guest Contributor: Peter Kelly