Onespan Inc Stock Price, News & Analysis

OneSpan (NASDAQ: OSPN) has released its first Global Financial Regulations Report, focusing on the regulatory landscape affecting financial services globally. The report highlights the impact of COVID-19 on remote banking, urging financial institutions to adapt to new regulations in fraud prevention, digital identity, and data protection. Key trends include the rise of artificial intelligence scrutiny, approval of remote account openings, growth in Open Banking, increased use of facial recognition for identity verification, and emerging regulations for cryptocurrencies.

OneSpan™ Inc. (NASDAQ: OSPN) has appointed Alfred “Al” Nietzel as an independent director effective November 11, 2020. Nietzel, a former CFO with extensive experience in software and SaaS sectors, will also serve on the Audit and Finance & Strategy Committees. His notable accomplishments include leading the financial execution of the $2B+ spinoff of ADP’s Dealer Services, creating CDK Global. Nietzel's addition reflects the company’s ongoing board refreshment strategy, aimed at strengthening financial expertise and supporting future growth amid increasing demand for digital banking solutions.

OneSpan Inc. (NASDAQ: OSPN) reported its Q3 2020 financial results, showing a 35% revenue decline to $51.4 million compared to Q3 2019. The company is transitioning to a recurring revenue model, achieving 27% growth in annual recurring revenue and a 120% dollar-based net expansion rate. The pandemic has delayed several IT projects, impacting customer account growth and demand for authentication products. The company forecasts total revenue for FY 2020 between $203 million and $207 million.

OneSpan (NASDAQ: OSPN) announced its participation in upcoming investor events. CEO Scott Clements will present at the JMP Securities Small-Cap Technology Forum on November 10, 2020, at 11:30 a.m. ET. Additionally, Clements and VP of Investor Relations Joe Maxa will host one-on-one meetings at the Needham Virtual Security Conference on November 17, 2020. Clements will also present at 11:00 a.m. ET, with a live webcast and replay available on the OneSpan investor relations website. OneSpan specializes in securing digital transactions and combating fraud for over 10,000 clients, including leading banks.

OneSpan (NASDAQ: OSPN) has rescheduled its third quarter 2020 earnings release to occur after market close on November 2, 2020, instead of November 3, 2020. A conference call to discuss these results will take place on the same day at 4:30 p.m. Eastern Time. Investors can join the call via a live webcast on the company’s Investor Relations website. OneSpan specializes in securing remote banking transactions and aims to reduce digital fraud for over 10,000 clients, including major global banks.

OneSpan (NASDAQ: OSPN) will release its third quarter 2020 financial results after market close on November 3, 2020. A conference call to discuss these results will take place at 4:30 p.m. ET on the same day, with a live webcast available on the OneSpan Investor Relations website. Investors are encouraged to dial in 15 minutes early due to potential hold times. OneSpan focuses on securing remote banking transactions, providing solutions to prevent digital fraud for over 10,000 customers, including many of the world's largest banks.

OneSpan (NASDAQ: OSPN) has appointed Ajay Keni as Chief Technology Officer (CTO) to drive innovation in the financial services market through its Trusted Identity platform. Keni, with over 20 years of experience, will enhance OneSpan's anti-fraud solutions, including identity verification and multifactor authentication. The company intends to adopt a cloud-first strategy for its technology stack, improving scalability and integration. Former CTO Benoit Grangé transitions to Chief Technology Evangelist, focusing on technology vision and industry insights.

On September 17, 2020, OneSpan (NASDAQ: OSPN) announced a strategic partnership with ForgeRock to enhance digital identity management and fraud prevention in banking. This collaboration integrates OneSpan's multi-factor authentication and risk analytics into ForgeRock's Identity Platform, allowing banks to streamline identity and access management. The combined solution aims to enhance security and user experience in light of rising fraud due to Covid-19. Both companies emphasize the importance of this integration for financial institutions to manage risks effectively.