OneSpan

OneSpan (formerly Vasco Data Security International, Inc.) is a publicly traded cybersecurity technology company based in Chicago, Illinois with offices in Montreal, Brussels and Zurich. The company offers a cloud-based and open architected anti-fraud platform and is historically known for its multi-factor authentication and electronic signature software.[2] It was founded by T. Kendall Hunt in 1991 and held its initial public offering (IPO) in January 2000. OneSpan is a member of the FIDO Alliance Board.[3][4]

OneSpan
TypePublic
NASDAQ: OSPN
S&P 600 Component
IndustrySoftware, Computer security
Founded1991 (1991)
Headquarters
Chicago, Illinois
Key people
T. Kendall Hunt, Chairman, Founder
Scott M. Clements, CEO
Revenue$193.3 million (2017)
$6.2 million (2017)
$22.9 million (2017)
Total assets$337 million (2017)
Number of employees
613 (2016[1])
Websitewww.onespan.com

History

In 1984, T. Kendall Hunt founded Vasco as a consulting and software services company for corporate and governmental agencies. The company acquired ThumbScan, which claimed to have the first fingerprint reader device for a computer,[5] in 1991. It was renamed Vasco Data Security International by 1993 and expanded its offerings to include data security. Vasco was incorporated in 1997 and held its initial public offering in January 2000.[6]

Vasco Digipass 250, branded RaboDirect

Vasco started developing its Digipass technology in the early 2000s. The company marketed the technology internationally in Belgium. In 2009, Vasco announced that Digipass two-factor authentication was available in the App Store for iPhone and iPod Touch. Forbes recognized Vasco on its list of "America's Fastest-Growing Tech Companies" that year.[7][8][9]

In January 2011, Vasco acquired DigiNotar, a Dutch certificate authority.[10] In June 2011, DigiNotar was hacked and started issuing false security certificates. When the news broke, confidence was shattered, all issued certificates cancelled and the company went bankrupt.[11]

The company established its international headquarters at Dubai Silicon Oasis in 2012. Vasco announced that it would lower EMEA channel entry for VARs at that time. It became a member of the Fast IDentity Online (FIDO) Alliance in June 2014 and was later recognized by Gartner's Magic Quadrant for User Authentication.[12][13][14][15]

In October 2015, Vasco acquired Silanis Technology, a Canadian document e-signature company, for $113 million. By early 2016, the company's cloud electronic signature software, eSignLive, was updated to include integration with Salesforce. Vasco announced a face recognition authentification feature for Digipass in May 2016. The company has partnerships with financial institutions including HSBC Bank USA, Fedict, Rabobank, Arab Bank and Riyadh Bank.[16][17][18][19][20]

OneSpan

On May 30, 2018, Vasco changed its name to OneSpan.[21] It now trades under the ticker symbol OSPN.

In May 2018, the company acquired Dealflo, a UK and Canada-based financial agreement automation software company, for GBP 41 million.[22]

Technology
  • Identity Verification: validate ID documents and consumer identities via third-party identity and verification services through a single API integration.[23]
  • Authentication: authenticate users and transactions using a range of multi-factor authentication services, including hardware & software tokens and biometric capabilities[24]
  • Risk Analytics: analyze mobile, app and transaction data, in real-time, to detect fraud[25]
  • Mobile App Security: detect and mitigate malicious mobile app attacks before they can do damage[26]
  • E-Signature: enable customers to e-sign on any device, while strengthening compliance[27]

Solutions are delivered through OneSpan's open, cloud-based Trusted Identity (TID) platform.[23]

References
  1. "VASCO Data Security International, Inc. Form 10-K". VASCO Data Security International. December 31, 2016. Retrieved September 14, 2017.
  2. "VASCO Transforms Business Enablement with Launch of New Anti-Fraud Platform, Renames Company OneSpan". GlobalNewsWire. Retrieved October 18, 2018.
  3. Fraser, Chad (December 24, 2014). "What 2015 Holds for Cybersecurity Stocks". Investing Daily.
  4. Strom, David. "Comparing the Top Multifactor Authentication Vendors". TechTarget.
  5. "Peripherals fill larger product vacuum at NCC". Computer World. June 22, 1987.
  6. Park, Vivian (October 28, 2016). "Stock Worth Mentioning: Vasco Data Security International Inc". Kentucky Post News.
  7. Jenny, Stadigs (May 2015). "Belgium gets the market to solve authentication for free". Computer Weekly.
  8. Ricknäs, Mikael (November 5, 2009). "Vasco Uses IPhone, IPod Touch for Authenticating Users". PC World.
  9. Paul M. Murdock; John J. Ray (January 29, 2009). "Turbo Techs: 25 Hottest Tech Stocks". Forbes.
  10. "VASCO Data Security International, Inc. Announces the Acquisition of DigiNotar B.V., a Market Leader in Internet Trust Services in The Netherlands". Archived from the original on 2011-09-17.
  11. Wolff, Josephine. "How a 2011 Hack You've Never Heard of Changed the Internet's Infrastructure". Slate. Retrieved October 18, 2018.
  12. "Gartner Recognizes VASCO Data Security in Leaders Quadrant in Magic Quadrant for User Authentication". PR Newswire. January 28, 2014.
  13. Enzer, Georgina (February 12, 2012). "Vasco sets up new offices in Silicon Oasis". ITP.net.
  14. Trendall, Sam (March 28, 2011). "Vasco seeks to bring clarity to EMEA channel scheme". CRN.
  15. "VASCO Joins FIDO Alliance Board of Directors". PR Newswire. October 14, 2015.
  16. Van Der Linde, Damon (November 26, 2015). "Montreal E-Signature Company Silanis Bought By Security Firm Vasco For $113 Million". Financial Post.
  17. Martin, Zach (May 26, 2016). "VASCO updates e-sig software, IoT conference". SecureID News.
  18. Perala, Alex (May 5, 2016). "VASCO Announces DIGIPASS Selfie Authentication System". Mobile ID World.
  19. Messmer, Ellen (February 13, 2014). "Banks turn to smartphone tech to fight online fraud". Network World.
  20. "Rabobank introduces QR code-based online banking authentication". FINextra. September 19, 2014.
  21. Penny Crosman. "Vasco buys digital ID company, changes name to OneSpan". American Banker. Retrieved October 18, 2018.
  22. "VASCO Rebrands as OneSpan, and Grows with Dealflo Acquisition". FindBiometrics. Retrieved October 18, 2018.
  23. Vasco Data Security Changes Name To OneSpan, Pays $55M For Identity Verification Vendor
  24. Javelin Strategy & Research honors Daon and OneSpan with Mobile Biometrics Platform awards
  25. "VASCO Announces IDENTIKEY Risk Manager with Powerful New Tools to Fight Banking Fraud". PRNewsWire. Retrieved October 18, 2018.
  26. "Vasco offers two-factor authentication via mobile phone". IT News. Retrieved October 18, 2018.
  27. OneSpan to Demonstrate Innovations in Cloud-Based Risk Analytics, Blockchain and Digital Account Opening at Money 20/20 USA 2018
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.