OneSpan has partnered with ThreatFabric, a proactive fraud detection provider, to offer its advanced authentication clients additional capabilities.
The collaboration enables OneSpan to expand its cybersecurity features for the financial services industry, which has experienced significant growth in Authorised Push Payment (APP) fraud recently. Integrating mobile threat intelligence, malware risk detection, and behavioural risk analysis, the company can offer its advanced authentication customers additional safeguards against evolving threats.
Improving cybercrime prevention capabilities
Fraudsters increasingly use a combination of malware, social engineering, and remote access tools for cybercrime, and ThreatFabric aims to disrupt these tactics at their core. OneSpan invested in the fraud prevention firm, joining its board of directors and participating in the newly created ThreatFabric Strategic Advisory Board, which reflects its commitment to contributing to a future where fraud prevention is possible through collaboration and modern developments.
ThreatFabric is known for its layered fraud prevention solutions such as behavioural analytics, device intelligence, mobile malware detection, and real-time threat intelligence. Its existing investors include Rabo Investments, Motive Ventures, 10x Founders, and 14Peaks Capital. It welcomes OneSpan as a partners and new investor, as the company shares its vision to secure mobile experiences with AI-powered behavioural biometrics and market-level advanced malware defence.
OneSpan’s investment in ThreatFabric highlights its commitment to always being one step ahead of digital threats. As mobile services are the most prevalent access point for consumer financial services, this leads to the rise in device compromise, malware, and cyberfraud. The alliance aims to optimise OneSpan’s capabilities to defend against fraud, setting a new standard for protecting customers in a mobile-centric world while maintaining security as a key value for the digital banking sector.
For more information about ThreatFabric, please check out their detailed profile in our dedicated, industry-specific Company Database.
