OneSpan has announced a strategic investment in and partnership with ThreatFabric, a company specializing in proactive fraud detection and mobile threat intelligence. The collaboration aims to enhance OneSpan’s mobile fraud detection technology by integrating ThreatFabric’s expertise to strengthen protection for digital transactions and mobile environments. The move follows OneSpan’s recent expansion of its security portfolio, including its acquisition of Nok Nok Labs to strengthen its passwordless authentication offerings.
The partnership supports OneSpan’s core business segments: Digital Agreements and Security Solutions. The Security Solutions division encompasses software products, software development kits (SDKs), and Digipass authenticator devices that protect digital transactions across various online environments, devices, and applications. Through the new partnership, OneSpan will integrate ThreatFabric’s advanced mobile fraud detection technologies to enhance its existing security offerings, building upon the company’s recent technological advancement under the leadership of newly appointed CTO Ashish Jain.
While specific financial terms of the investment remain undisclosed, the strategic nature of the partnership indicates a substantial commitment to developing and implementing enhanced mobile-specific fraud detection solutions. The development comes at a time when mobile-based transactions face increasing security challenges, as evidenced by recent reports of sophisticated threats like the Crocodilus Android malware and other banking trojans targeting mobile financial services.
The collaboration represents a significant expansion of OneSpan’s mobile security capabilities, combining its established digital transaction security infrastructure with ThreatFabric’s specialized mobile threat intelligence systems. The integration is expected to provide more comprehensive protection against evolving mobile security threats in digital transactions, addressing the growing sophistication of mobile banking malware and crypto-related threats that have seen significant increases in recent years.
Sources: MarketScreener, Business Wire
