eSignLive parent VASCO buys digital ID company, changes name to OneSpan
VASCO Data Security International, Inc., the company behind the eSignLive e-signature solution, has £41 million in cash to buy a U.K. company called Dealflo that automates identity verification and speeds up digital account onboarding.
At the same time, VASCO announced it has shifted its focus to identity verification, launched a Trusted Identity platform and changed the overall company name to OneSpan.
The OneSpan Trusted Identity (TID) platform brings together a broad portfolio of security technologies to enable real-time fraud detection for banks and enterprises through a cloud-based, open-architecture platform that uses real-time fraud analytics, multifactor authentication, mobile application security and orchestration of all of the available services. TID’s API-based approach integrates OneSpan-provided, third party and customer-developed tools to manage risk and reduce fraud, meet strict regulatory compliance, reduce the time and cost of implementation, and improve the user experience.
The newest solution available on TID is Intelligent Adaptive Authentication. This solution reviews data from user behaviour, devices, mobile applications and real-time transactions, then uses artificial intelligence with machine learning plus pre-configured and customisable rule sets to analyse and score that data. The result of this analysis enables a precise level of security on user interactions while optimising the user experience.
“The launch of our 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.
“We listened closely to the challenges our customers are facing and identified a significant gap between customer needs and solutions available in the market. OneSpan is addressing this gap by delivering a much needed and innovative approach to reducing the billions of dollars banks are losing annually to fraud.”
Trading on NASDAQ under the new OneSpan name, ticker symbol “OSPN” is expected to begin at market open Monday, June 4, 2018.