Tag Archive for: OneSpan

Norway’s BankID Turns to OneSpan for Mobile Security

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BankID is upgrading its app security through a new partnership with OneSpan. The latter will be supplying BankID with its Mobile Security Suite, which monitors financial transactions to help spot potentially fraudulent activity.

Norway's BankID Turns to OneSpan for Mobile Security

The BankID mobile app is a digital ID that is widely used throughout Norway. The platform has the backing of the Norwegian government and all of the country’s major banks, which means that the digital ID can be used as proof of identity when gaining access to government services, and to authorize financial transactions in a range of different settings. It can also be used to access financial apps, and to generate legally binding e-signatures on official documents.

OneSpan’s Security Suite will analyze those transactions to make sure that the business being conducted is legitimate. The Suite comes with OneSpan’s Application Shielding tech, and will be supplemented with the company’s Cloud Authentication solution, which offers additional support for face and fingerprint biometrics. BankID is hoping that the features will enable a better user experience as it looks to expand into other regions.

“Innovation, flexibility and user convenience are part of Norway’s DNA as one of the most digitized countries in the world,” said BankID Business Development Manager Jan Bjerved. “OneSpan’s strong expertise in the financial sector and its extensive mobile security capabilities have been important in this large modernization project.”

“We support their vision and execution of a secure digital identity,” added OneSpan Interim President and CEO Steven Worth. “OneSpan’s digital identity and anti-fraud solutions enable financial services providers to deliver secure and trusted experiences while minimizing friction, mitigating fraud, and reducing operational costs.”

The news comes shortly after Entersekt announced that it would be offering support for the BankID platform to allow people to use their IDs to verify their identities in web browsers and mobile apps. OneSpan, meanwhile, has previously delivered its Mobile Security Suite to multiple financial institutions. Belfius Bank, Sony Bank, and Avaloq are some of the customers that the…

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Onespan Inc (OSPN) Q2 2021 Earnings Call Transcript

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Logo of jester cap with thought bubble.

Image source: The Motley Fool.

Onespan Inc (NASDAQ:OSPN)
Q2 2021 Earnings Call
Aug 4, 2021, 4:30 p.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Hello, and welcome to the OneSpan Second Quarter 2021 Earnings Conference Call. [Operator Instructions] [Operator Instructions]

I would now like to turn the conference over to Joe Maxa, Vice President of Investor Relations. Mr. Maxa, please go ahead.

Joe Maxa — Vice President of Investor Relations

Thank you, operator. Hello, everyone, and thank you for joining the OneSpan Second Quarter 2021 Earnings Conference Call. This call is being webcast and can be accessed on the Investor Relations section of OneSpan’s website at investors.onespan.com. This afternoon, after market close, OneSpan issued a press release announcing results for our second quarter 2021. In a separate press release, also issued after market closed today, the company announced several leadership changes, including Stephen Worth, who has been named Interim Chief Executive Officer, and John Bosshart, who has assumed the role of Interim Chief Financial Officer.

To access a copy of these press releases and other investor information, including a presentation reflecting our second quarter financial results, please visit our website. Steven Worth and John Bosshart will both participate in today’s call. Following our prepared comments, we will open the call for questions. Please note that statements made during this conference call that relate to future plans, events or performance, including the outlook for full year 2021, are forward-looking statements.

These statements use words such as believes, anticipates, plans, expects, projects and similar words, and these statements involve risks and uncertainties, and are based on current assumptions. Consequently, actual results could differ materially from these expectations expressed in these forward-looking statements. I direct your attention to today’s press release and the company’s Form 10-K and Form 10-Q filings with the U.S. Securities and Exchange Commission for a discussion of such risks and uncertainties.

Also note that certain…

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Next Biometrics and OneSpan forecast modest revenue growth, Nice sees bigger gains in 2021 outlook

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Next Biometrics and OneSpan forecast modest revenue growth, Nice sees bigger gains in 2021 outlook

Next Biometrics has recorded 15 design wins since the fourth quarter of 2019 and rejuvenated its PC fingerprint sensor business, according to the company’s latest business update.

The company also sees traction in the payment and fintech market through its partnerships with Ngrave, Newland and Pagaria. Roughly 60 percent of the design wins are for FAP20 fingerprint biometric scanners.

In Q4 2020, Next Biometrics reports revenues of NOK 8.8 million (approximately US$1.04 million), down 5 percent from the same quarter in the previous year, but gross margins improved from negative 2 percent to 16 percent.

The cost-cutting and efficiency program carried out by the company resulted in an OPEX reduction of 73 percent, compared to a year earlier.

EBITDA excluding options was a loss of NOK 8 million ($.95 million), significantly reduced from a loss of NOK 44.3 million ($5.27 million) in Q4 2019.

“With a successful private placement completed a week ago, we are now in a strong financial position,” states Next Biometrics CEO Peter Heuman. “We expect to continue to report new design-wins and purchase orders as we go forward. Especially we have a strong belief in the future success of our FBI certified FAP20 sensor, which will enable us to disrupt a 1.5 billion USD market.”

For the full year, Next revenue fell to NOK 58.1 million ($6.92 million) from NOK 84.4 million ($10.05 million) in 2019, and gross margin fell from 24 percent to 15 percent.

In 2021 Next expects revenue and gross margin growth, and the company is part of bids on multiple tenders and contracts in India.

Nice reports record cash flow in 2020, strong demand for biometric fraud prevention

Nice has reported revenues of $435 million in the fourth quarter and $1,648 million for full-year 2020, growth of 1 percent and 5 percent respectively on a year-over-year basis.

Operating margins for Nice were down both in the quarter and the year, and diluted EPS fell during Q4, but grew by 3 percent for the year to $2.98. Non-GAAP fully-diluted earnings per share were $5.73 for the full year, up from $5.31 the previous year.

The company experienced growth in its cloud services, which exceeded 50 percent of…

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Considering Electronic Document Signing? Try OneSpan Sign Free For 30 Days

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Considering Electronic Document Signing? Try OneSpan Sign Free For 30 Days

Graham Cluley Security News is sponsored this week by the folks at OneSpan. Thanks to the great team there for their support!

More than 10,000 customers in 100 countries rely on OneSpan to secure access, manage identities, verify transactions, simplify document signing and protect high value assets and systems.

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If you’re interested in sponsoring my site for a week, and reaching an IT-savvy audience that cares about computer security, you can find more information here.

Graham Cluley