OneSpan’s technology provides a scalable authentication framework that also enables NewB to be compliant with PSD2 requirements. NewB is a digital-only bank whose customers rely on its mobile application for all transactions, making ease of use and strong security key requirements. Using OneSpan Cloud Authentication and Mobile Security Suite with application shielding, NewB can ensure the integrity and protection of its app and customer data while also helping detect and mitigate mobile malware attacks. Using OneSpan’s cloud technologies, NewB plans to scale the number of customers by more than 300 percent in 2021.
Financial institutions entering or expanding within the financial services market benefit from the scalability and cost-effectiveness of cloud solutions. This trend is not limited to new players, with 40 percent of retail banks indicating they plan to start cloud migration projects to improve agility, manage costs, and meet customer expectations for innovative technology and digital engagement.
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