OneSpan Inc. (formerly Vasco Data Security International, Inc.) is a publicly traded

cybersecurity Computer security (also cybersecurity, digital security, or information technology (IT) security) is a subdiscipline within the field of information security. It consists of the protection of computer software, systems and networks from thr ...

technology company based in

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, Massachusetts, with offices in

Montreal Montreal is the List of towns in Quebec, largest city in the Provinces and territories of Canada, province of Quebec, the List of the largest municipalities in Canada by population, second-largest in Canada, and the List of North American cit ...

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and

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. The company offers a cloud-based and open-architected anti-fraud platform and is historically known for its multi-factor authentication and

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software. It was founded by T. Kendall Hunt in 1991 and held its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) in January 2000. OneSpan is a member of the FIDO Alliance Board.

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. 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. Vasco started developing its Digipass technology in the early 2000s. The company marketed the technology internationally in

Belgium Belgium, officially the Kingdom of Belgium, is a country in Northwestern Europe. Situated in a coastal lowland region known as the Low Countries, it is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeas ...

. In 2009, Vasco announced that Digipass two-factor authentication was available in the

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for

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and

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. ''

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'' recognized Vasco on its list of "America's Fastest-Growing Tech Companies" that year. In 2006, Vasco acquired LOGiCO Smart Card Solutions, a privately-owned company located in Austria offering

smart card A smart card (SC), chip card, or integrated circuit card (ICC or IC card), is a card used to control access to a resource. It is typically a plastic credit card-sized card with an Embedded system, embedded integrated circuit (IC) chip. Many smart ...

–based authentication and PKI solutions. In January 2011, Vasco acquired

DigiNotar DigiNotar was a Dutch certificate authority, established in 1998 and acquired in January 2011 by VASCO Data Security International, Inc. The company was hacked in June 2011 and it issued hundreds of fake certificates, some of which were used f ...

, a Dutch certificate authority. 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. In 2013, Vasco announced its acquisition of the Cambridge-based technology company Cronto. The patented CrontoSign solution uses specialized color bar codes, so-called Cronto Visual Cryptograms (or photoTAN), to mitigate MITB Trojan malware. The company established its international headquarters at

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in 2012. Vasco announced that it would lower

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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. In 2014, the company acquired Risk IDS, Ltd., a provider of risk-based authentication solutions to the global banking community. By 2015, IDENTIKEY Risk Manager (IRM) was released as a comprehensive risk management solution to improve the methods and speed of organizations to detect fraud. 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

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. Vasco announced a face recognition authentication feature for Digipass in May 2016. The company has partnerships with financial institutions including

HSBC Bank USA HSBC Bank USA, National Association, an American subsidiary of the British banking group HSBC, is a bank with its operational head office in New York City and its nominal head office in Tysons, Virginia (as designated on its charter). HSBC Bank ...

, Fedict,

Rabobank Rabobank (; full name: ''Coöperatieve Rabobank U.A.'') is a Dutch multinational banking and financial services company headquartered in Utrecht, Netherlands. The group comprises 89 local Dutch Rabobanks (2019), a central organisation (Raboban ...

Arab Bank Arab Bank is a Jordanian bank that is one of the largest financial institutions in the Middle East. It is headquartered today in Amman, Jordan, and operates as a universal bank that serves clients in more than 600 branches spanning five contine ...

and Riyadh Bank.

OneSpan

On May 30, 2018, Vasco changed its name to OneSpan. 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 GB41 million. In January 2023, OneSpan announced to acquir
ProvenDB
an Australia-based startup that delivers secure storage and vaulting for documents based on blockchain technology.

Technology

* Identity Verification: validate ID documents and consumer identities via third-party identity and verification services through a single API integration
/ref> * Authentication: authenticate users and transactions using a range of multi-factor authentication services, including hardware & software tokens and biometric capabilities * Risk Analytics: analyze mobile, app and transaction data, in real-time, to detect fraud * Mobile App Security: detect and mitigate malicious mobile app attacks before they can do damage * E-Signature: enable customers to e-sign on any device, while strengthening compliance
/ref> Services are delivered through OneSpan's open, cloud-based Trusted Identity (TID) platform

References

External links

* {{Finance links , name = OneSpan Inc. , symbol = OSPN , reuters = OSPN.O , bloomberg = OSPN:US , sec_cik = 1044777 , yahoo = OSPN , google = OSPN:NASDAQ Oakbrook Terrace, Illinois Technology companies established in 1984 Computer security companies Companies based in DuPage County, Illinois Companies listed on the Nasdaq 1984 establishments in Illinois