OneSpan invests in fraud detection firm ThreatFabric

OneSpan Inc. (NASDAQ: OSPN) announced a strategic investment in ThreatFabric, a provider of mobile threat intelligence and fraud detection solutions. The partnership aims to enhance OneSpan's fraud prevention capabilities for financial services customers.

Under the agreement, OneSpan will join ThreatFabric's board of directors and participate in the company's newly formed Strategic Advisory Board. The investment allows OneSpan to integrate mobile threat intelligence, malware risk detection, and behavioral risk evaluation into its authentication services.

ThreatFabric, founded in Amsterdam in 2015, provides fraud prevention solutions including behavioral analytics, device intelligence, mobile malware detection, and real-time threat intelligence. The company protects over 60 million banking customers worldwide and counts Rabo Investments, Motive Ventures, 10x Founders, and 14Peaks Capital among its existing investors.

"Our investment in ThreatFabric underscores OneSpan's commitment to staying ahead of emerging digital threats," said Victor Limongelli, CEO of OneSpan. The partnership addresses the increasing prevalence of Authorized Push Payment fraud in financial services, according to the company's statement.

OneSpan provides authentication, identity verification, electronic signature and digital workflow solutions. The company processes billions of multi-factor authentication transactions annually and serves more than 60% of the world's 100 largest banks.

Han Sahin, CEO of ThreatFabric, said the company was "thrilled to welcome OneSpan as a strategic investor and partner." ThreatFabric's solutions target malware-assisted fraud, account takeover, and various forms of online fraud through its SDK-based platform.

The financial terms of the investment were not disclosed in the company's announcement.

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