OneSpan, Nok Nok target mobile, online security at large banks

Seeking to bolster digital identity and transaction security at the world's largest banks, OneSpan is partnering with Nok Nok Labs to provide authentication for mobile and online accounts, favoring biometrics or other technologies over static passwords.

The OneSpan mobile security suite will operate with Nok Nok's S3 Authentication Suite to offer secure mobile or online applications without compromising the user experience. The applications will comply with universal Faster Identity Online Alliance standards, including FIDO's latest authentication framework updates.

OneSpan, previously known as Vasco, specializes in digital identity and transaction security. Nok Nok Labs, a founding member of FIDO, specializes in next-generation authentication methods.

“Market forces are colliding as consumers and enterprises want more security and privacy with ease of use, while addressing global regulations such as PSD2 and GDPR,” Phillip Dunkelberger, president and CEO of Nok Nok Labs, said in a Thursday press release. “What better way to address these market demands than by combining the industry leader in financial services with innovation that includes a FIDO standards-based approach that won’t compromise on security, privacy and regulatory compliance?"

The solution also includes fraud-detection, phishing-resistance and prevention benefits including geolocation, jailbreak and rootkit detection, device binding, device identification and application shielding, the companies say.

“Nok Nok helped found the FIDO Alliance and is a pioneer in modern authentication, developing leading solutions that offer the industry’s most comprehensive approaches to authenticate users securely and with minimal friction,” Scott Clements, CEO of OneSpan, said in the release. “Enabling a secure yet frictionless experience is in line with OneSpan’s customer-centric vision, and as such we endorse FIDO standards-based authentication as both a vendor and as a FIDO Alliance board member.”