OneSpan announced that mobile-only bank Orange Money, has integrated OneSpan’s Intelligent Adaptive Authentication (IAA) with Risk Analytics to help fight online and mobile fraud.
IAA enables Orange Money to secure its mobile banking application and authenticate mobile transactions while detecting and preventing against mobile malware. Orange Money can protect its customers through a range of multifactor authentication technologies.
“As a mobile-only bank, innovative service delivery and a frictionless experience are paramount for us,” said Orange Money Head of Payments and Transactions, Mircea Spinei. “OneSpan brings deep industry expertise and a unique and effective approach to the challenge of balancing experience, security and regulatory requirements.”
IAA also offers pre-configured, customizable rule sets for threat detection together with AI-based machine learning, behavioral analysis and transaction risk analysis. IAA is built on OneSpan’s OneSpan’s Trusted Identity (TID) platform, which brings together a broad portfolio of technologies to enable real-time fraud detection through a modern set of cloud-based solutions.
“The pandemic has fundamentally changed the way customers interact with their banks,” said OneSpan CEO, Scott Clements. “This new normal reinforces the need for banks to deliver services digitally in a secure and frictionless way. OneSpan’s technologies help banks and other financial institutions protect their customers from heightened threats while delivering an optimal customer experience at scale.”
