OneSpan launches operational hub in Canada

Cybersecurity technology builder OneSpan has launched a new operational hub in Montréal to increase its capability of protecting financial institutions from fraud.

The new office will serve as its largest office and R&D centre worldwide. Over the course of the next two years, OneSpan hopes the Montréal office will create 100 new jobs.

Chicago-headquartered OneSpan helps financial institutions to implement technology for authentication, cybersecurity, risk analytics, identity verification, mobile security and electronic signatures.

OneSpan president and CEO Scott Clements said, “Data breaches, identity theft, and financial fraud have become all too common features of our modern digital life.

“OneSpan is dedicated to protecting people from financial fraud and stopping billions of dollars in losses for consumers, banks, and businesses. Our new Montréal R&D centre and the city’s world class technical talent will play a prominent role in ensuring OneSpan remains at the forefront in preventing fraud in the global financial services industry.”

Bank Millennium recently deployed OneSpan’s technology to lower fraud threats against its customers. The company deployed its Cronto service to secure transactions by checking details such as account numbers, before completing the transaction. The technology is also capable of identifying trojans and cyber threats.