Avaloq and OneSpan are joining forces in an effort to deliver better anti-fraud services to financial institutions. Specifically, Avaloq will be integrating OneSpan solutions into its cloud-based security platform, making it easier for banks to introduce features like mobile authentication, transaction signing, and multi-factor authentication through open APIs.
“Avaloq is a strategic fit given our mutual focus on financial institutions and the increased demand for security solutions in core banking services,” said Xavier Juredieu, OneSpan’s Vice President of Global Alliances. “We have already seen quick adoption in Switzerland and Germany and will soon expand worldwide to meet the needs of Avaloq’s customers.”
Through the partnership, OneSpan’s Trusted Identity Platform will be available through avaloq.one alongside the rest of the Avaloq Banking Suite. Avaloq currently provides authentication and security services for a number of major banks, including HSBC, Barclays, and Deutsche Bank, with the OneSpan integration making it faster and cheaper for new and existing customers to implement new technology.
OneSpan recently launched an AI-powered Risk Analytics solution, as well as a Secure Agreement Automation platform that makes it easier for financial institutions to onboard new customers and open new accounts. The company is also providing mobile security for the United Bulgarian Bank.