Company:OneSpan

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Short description: American cybersecurity technology company
OneSpan Inc.
TypePublic company
Industry
Founded1984; 40 years ago (1984)
HeadquartersBoston, Massachusetts, U.S.
Key people
T. Kendall Hunt, Chairman, Founder
Matt Moynahan, CEO
Revenue$193.3 million (2017)
$6.2 million[citation needed] (2017)
$22.9 million[citation needed] (2017)
Total assets$337 million[citation needed] (2017)
Number of employees
613 (2016[1])
Websitewww.onespan.com

OneSpan (formerly Vasco Data Security International, Inc.) is a publicly traded cybersecurity technology company based in Boston, Massachusetts, 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][3]

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.[4][5]

History

In 1984, T. Kendall Hunt founded Vasco as a consulting and software services company for corporate and governmental agencies. In 1991, the company acquired ThumbScan, which claimed to have the first fingerprint reader device for a computer.[6][7]

In 1993, the company was renamed Vasco Data Security International and expanded its offerings to include data security. Vasco was incorporated in 1997 and held its initial public offering in January 2000.[8]

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.[9][10][11]

In 2006, Vasco acquired LOGiCO Smart Card Solutions, a privately-owned company located in Austria offering smart card–based authentication and PKI solutions.[12]

In January 2011, Vasco acquired DigiNotar, a Dutch certificate authority.[13] In June 2011, DigiNotar was hacked and started issuing false security certificates. When the news broke, all issued certificates were cancelled and the company went bankrupt.[14]

In 2013, Vasco announced its acquisition of the Cambridge-based technology company Cronto.[15] The patented CrontoSign solution uses specialized color bar codes, so-called Cronto Visual Cryptograms (or photoTAN), to mitigate MITB Trojan malware.[16]

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.[17][18][19][20]

In October 2015, Vasco acquired Silanis Technology, a Canadian document e-signature company, for US$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 authentication feature for Digipass in May 2016. The company has partnerships with financial institutions including HSBC Bank USA, Fedict, Rabobank, Arab Bank and Riyadh Bank.[21][22][23][24][25]

OneSpan

On May 30, 2018, Vasco changed its name to OneSpan.[26] 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 GBGB£41 million.[27]

Technology

  • Identity Verification: validate ID documents and consumer identities via third-party identity and verification services through a single API integration[28]
  • Authentication: authenticate users and transactions using a range of multi-factor authentication services, including hardware & software tokens and biometric capabilities[29]
  • Risk Analytics: analyze mobile, app and transaction data, in real-time, to detect fraud[30]
  • Mobile App Security: detect and mitigate malicious mobile app attacks before they can do damage[31]
  • E-Signature: enable customers to e-sign on any device, while strengthening compliance[32]

Services are delivered through OneSpan's open, cloud-based Trusted Identity (TID) platform[28]

References

  1. ↑ "VASCO Data Security International, Inc. Form 10-K". VASCO Data Security International. December 31, 2016. https://www.sec.gov/Archives/edgar/data/1044777/000119312517078799/d363884d10k.htm. 
  2. ↑ "VASCO Transforms Business Enablement with Launch of New Anti-Fraud Platform, Renames Company OneSpan". GlobalNewsWire. https://globenewswire.com/news-release/2018/05/30/1513841/0/en/VASCO-Transforms-Business-Enablement-with-Launch-of-New-Anti-Fraud-Platform-Renames-Company-OneSpan.html. Retrieved October 18, 2018. 
  3. ↑ "Spotlight OneSpan: Cybersecurity in its DNA". 2022-07-28. https://www.advisorperspectives.com/commentaries/2022/07/28/spotlight-onespan-cybersecurity-in-its-dna. 
  4. ↑ Fraser, Chad (December 24, 2014). "What 2015 Holds for Cybersecurity Stocks". Investing Daily. http://www.investingdaily.com/21804/what-2015-holds-for-cybersecurity-stocks/. 
  5. ↑ Strom, David. "Comparing the Top Multifactor Authentication Vendors". TechTarget. http://searchsecurity.techtarget.com/feature/The-fundamentals-of-MFA-Comparing-the-top-multifactor-authentication-products. 
  6. ↑ "Peripherals fill larger product vacuum at NCC". Computer World. June 22, 1987. 
  7. ↑ "Spotlight OneSpan: Cybersecurity in its DNA". 2022-07-28. https://www.advisorperspectives.com/commentaries/2022/07/28/spotlight-onespan-cybersecurity-in-its-dna. 
  8. ↑ Park, Vivian (October 28, 2016). "Stock Worth Mentioning: Vasco Data Security International Inc". Kentucky Post News. http://www.kentuckypostnews.com/2016/10/28/stock-worth-mentioning-vasco-data-security-international-inc-nasdaqvdsi-institutional-investor-sentiment-analysis/. 
  9. ↑ Jenny, Stadigs (May 2015). "Belgium gets the market to solve authentication for free". Computer Weekly. http://www.computerweekly.com/feature/Belgium-gets-the-market-to-solve-authentication-for-free. 
  10. ↑ Ricknäs, Mikael (November 5, 2009). "Vasco Uses IPhone, IPod Touch for Authenticating Users". PC World. http://www.pcworld.com/article/181498/article.html. 
  11. ↑ "Turbo Techs: 25 Hottest Tech Stocks". Forbes. January 29, 2009. https://www.forbes.com/forbes/2009/0216/048b.html. 
  12. ↑ "VASCO Announces Acquisition of Authentication Storage Specialist Logico". https://www.onespan.com/about/news/nw20060516vasco-announces-acquisition-authentication-storage-specialist-logico. 
  13. ↑ "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. https://web.archive.org/web/20110917092647/http://www.vasco.com/company/press_room/news_archive/2011/acquisition_diginotar.aspx. 
  14. ↑ Wolff, Josephine (21 December 2016). "How a 2011 Hack You've Never Heard of Changed the Internet's Infrastructure". Slate. http://www.slate.com/articles/technology/future_tense/2016/12/how_the_2011_hack_of_diginotar_changed_the_internet_s_infrastructure.html. Retrieved October 18, 2018. 
  15. ↑ "VASCO Announces Acquisition of Cronto (United Kingdom)". https://www.onespan.com/about/news/vasco-announces-acquisition-cronto-united-kingdom. 
  16. ↑ "New system to combat online banking fraud". https://www.cam.ac.uk/research/news/new-system-to-combat-online-banking-fraud. 
  17. ↑ "Gartner Recognizes VASCO Data Security in Leaders Quadrant in Magic Quadrant for User Authentication". PR Newswire. January 28, 2014. http://www.prnewswire.com/news-releases/gartner-recognizes-vasco-data-security-in-leaders-quadrant-in-magic-quadrant-for-user-authentication-242346061.html. 
  18. ↑ Enzer, Georgina (February 12, 2012). "Vasco sets up new offices in Silicon Oasis". ITP.net. http://www.itp.net/587912-vasco-sets-up-new-offices-in-silicon-oasis. 
  19. ↑ Trendall, Sam (March 28, 2011). "Vasco seeks to bring clarity to EMEA channel scheme". CRN. http://www.channelweb.co.uk/crn-uk/news/2037786/vasco-seeks-bring-clarity-emea-channel-scheme. 
  20. ↑ "VASCO Joins FIDO Alliance Board of Directors". PR Newswire. October 14, 2015. http://www.prnewswire.com/news-releases/vasco-joins-fido-alliance-board-of-directors-300159404.html. 
  21. ↑ Van Der Linde, Damon (November 26, 2015). "Montreal E-Signature Company Silanis Bought By Security Firm Vasco For $113 Million". Financial Post. http://business.financialpost.com/fp-tech-desk/montreal-e-signature-company-silanis-bought-by-security-firm-vasco-for-113-million?__lsa=f816-24b7. 
  22. ↑ Martin, Zach (May 26, 2016). "VASCO updates e-sig software, IoT conference". SecureID News. http://www.secureidnews.com/news-item/vasco-updates-e-sig-software-iot-conference/. 
  23. ↑ Perala, Alex (May 5, 2016). "VASCO Announces DIGIPASS Selfie Authentication System". Mobile ID World. http://mobileidworld.com/vasco-announces-digipas-105053/. 
  24. ↑ Messmer, Ellen (February 13, 2014). "Banks turn to smartphone tech to fight online fraud". Network World. http://www.networkworld.com/article/2174352/malware-cybercrime/banks-turn-to-smartphone-tech-to-fight-online-fraud.html. 
  25. ↑ "Rabobank introduces QR code-based online banking authentication". FINextra. September 19, 2014. https://www.finextra.com/news/fullstory.aspx?newsitemid=26473. 
  26. ↑ Penny Crosman. "Vasco buys digital ID company, changes name to OneSpan". American Banker. https://www.americanbanker.com/news/vasco-buys-digital-id-company-changes-name-to-onespan. Retrieved October 18, 2018. 
  27. ↑ "VASCO Rebrands as OneSpan, and Grows with Dealflo Acquisition". FindBiometrics. https://findbiometrics.com/vasco-onespan-dealflo-acquisition-506015/. Retrieved October 18, 2018. 
  28. ↑ 28.0 28.1 Vasco Data Security Changes Name To OneSpan, Pays $55M For Identity Verification Vendor
  29. ↑ Javelin Strategy & Research honors Daon and OneSpan with Mobile Biometrics Platform awards
  30. ↑ "VASCO Announces IDENTIKEY Risk Manager with Powerful New Tools to Fight Banking Fraud". PRNewsWire. https://www.prnewswire.com/news-releases/vasco-announces-identikey-risk-manager-with-powerful-new-tools-to-fight-banking-fraud-300103174.html. Retrieved October 18, 2018. 
  31. ↑ "Vasco offers two-factor authentication via mobile phone". IT News. https://www.itnews.com.au/news/vasco-offers-two-factor-authentication-via-mobile-phone-146095. Retrieved October 18, 2018. 
  32. ↑ OneSpan to Demonstrate Innovations in Cloud-Based Risk Analytics, Blockchain and Digital Account Opening at Money 20/20 USA 2018

External links



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