VASCO Is Now OneSpan, Intros Trusted Identity Platform; Acquires Dealflo for £41 Mil

By: Peter Kelley, The Kelley Group

VASCO Data Security has rebranded as OneSpan and introduced the OneSpan Trusted Identity (TID) platform to fight onboarding, mobile and online transaction-related fraud while securing and enhancing the end-user experience. The Company also acquired leading customer onboarding provider Dealflo.

The OneSpan TID platform unites the company’s full portfolio of security technologies, which are now used by thousands of customers and more than half of the top 100 banks and FIs. Its

cloud-based open-architecture incorporates real-time fraud analytics, multifactor authentication, mobile application security and orchestration of all of the available services, including third-party services. TID enables customers to manage risk and reduce fraud, support regulatory compliance, speed implementation and optimize the end user’s experience.

The company also announced Intelligent Adaptive Authentication for the TID platform, which applies precise levels of security to user interactions to optimize the user experience, minimizing friction. Intelligent Adaptive Authentication reviews data from user behavior, devices, mobile applications and real-time transactions, and applies ML, AI and pre-configured and customizable rule sets to score data for risk.

“FIs are looking for platform solutions that support a flexible plug-and-play approach with multiple tools that enable them to nimbly evolve their fraud and authentication strategies. OneSpan’s layered approach using multiple technologies that work together is a great match for these needs, blending strong security with user convenience to help banks prevent fraud,” said Aite Group’s Retail Banking and Payments Research Director, Julie Conroy.

With the £41 Mil Dealflo acquisition, OneSpan further strengthens its widely-deployed OneSpan Sign (formerly eSignLive) white label e-signature offering, adding new end-to-end financial transaction management and consumer financial agreement automation capabilities. Dealflo partnerships include leading identity verification providers such as Equifax, iovation (being acquired by TransUnion), Mitek and GB Group, as well as a long-term OneSpan Sign relationship. OneSpan will continue to support these partnerships and looks to add new ones as it expands Dealflo’s global presence.

“Financial institutions in particular have a growing demand for onboarding automation solutions and coming from OneSpan, a leading provider in the financial services industry, this will make for a very compelling offering in the market,” Conroy said.

“This acquisition will enable us to grow our subscription revenue and Dealflo’s technology will be a major differentiator for our eSignLive solution,” said VASCO CEO Scott Clements. “In addition, Dealflo’s identity verification capabilities will allow us to accelerate the launch of our TID platform-based onboarding, identity and anti-fraud solutions.”

OneSpan CEO and President Scott Clements