OneSpan takes best in class among a competitive group of providers
San Francisco, Calif., November 13, 2018: Biometrics has become the preferred authentication method among consumers. Commonly integrated in today’s mobile devices, biometrics has familiarized consumers with the action of authenticating with their physical characteristics. With the growing sophistication of consumer mobile devices, it should be no surprise that three of the top four most desired authentication features for online and mobile banking are biometric modalities.
In its inaugural 2018 Mobile Biometrics Platform Scorecard, Javelin Strategy & Research evaluated twelve leading mobile biometric platform providers. The scorecard is designed to emphasize the importance of having a full-featured product to meet the consumer expectations and the security needs of financial service providers. Consequently, the criteria emphasize support for multiple biometric modalities across a variety of channels. Because no authentication method is sufficient to combat fraud on its own, the scorecard also rewards platform providers that back up those biometric authenticators with additional data sources and authentication methods to secure the crucial enrollment step.
OneSpan takes Best in Class among a competitive group of mobile biometric platform providers. With a strong performance across all three categories, OneSpan offers a platform that provides a robust array of biometric authentication capabilities. In addition, OneSpan also supports those authentication capabilities with risk assessment tools, supplemental authentication, and identity verification methods.
2018 Mobile Biometrics Platform Award Category Leaders (alphabetically):
Functional*: Daon, HYPR, OneSpan, Transmit
Innovative*: Nuance Communications, OneSpan, Nexsign Samsung SDS, Transmit
Tailored: Nuance Communications, OneSpan, Transmit
(* Category expanded due to a tie)
Each of the providers was evaluated according to Javelin’s Functional, Innovative, Tailored (FIT) model. This model recognizes that for financial services companies, the decision of which vendor to integrate with depends not just on its capabilities related to solving the business problem of the day, but also how well the product is positioned to provide long-term value and how difficult and expensive integrating with the product will be.
“Biometric authentication has matured since TouchID was released more than five years ago. Consumers demand it. Institutions big and small are integrating biometric authentication to protect accounts and enhance experience,” said Al Pascual, Head of Fraud & Strategy. “But not all approaches to authentication are created equal, biometrics included. Getting it right means starting with the best tools and that’s the insight we’re excited to share with this research.”
- 2017 Identity Protection Service Providers Scorecard: Securing the Identities of Digital Consumers
- 2017 Account Safety in Banking Scorecard
- 2018 Identity Fraud: Fraud Enters a New Era of Complexity
About Javelin Strategy & Research
Javelin Strategy & Research, a Greenwich Associates LLC company, is a research-based advisory firm that helps its clients to make better-informed business decisions in a digital financial world. Our analysts offer unbiased, actionable insights and unearth opportunities that help financial institutions, government entities, payment companies, merchants, and other technology providers. (Twitter: @JavelinStrategy)