by Jim Lundy
Vasco, a major DTM and digital identity provider, announced on May 30th that it is rebranding as OneSpan. It also announced a new offering, its Trusted Identity Platform (TID), and the acquisition of UK-based Dealflo.
This blog overviews these changes and their impact on the DTM market.
OneSpan is buying Dealflo—which is known for its identity verification and end-to-end agreement automation solutions—for $55 million. eSignLive is also being rebranded to OneSpan Sign.
While Dealflo is known more in Europe than in North America, its expertise is in automating loan and mortgage agreements and onboarding solutions. The demand to automate digital mortgages, loans, and customer onboarding is exploding and this deal will strengthen OneSpan’s portfolio and immediately make them one of the go-to providers to evaluate for a Workflow and Content Automation platform that offers embedded eSignatures.
TID Is the New Way Forward for Fraud Prevention
TID is the new Trusted Identity Platform that OneSpan is launching that leverages its own core identity and anti-fraud capabilities, including fraud analytics, security for mobile applications, and multi-factor authentication. OneSpan has also enabled TID with a full API, which will enable more integrations with third-party offerings.
Artificial Intelligence and OneSpan: A New Trend for DTM
OneSpan is also adding Artificial Intelligence to TID. Their Adaptive Authentication has embedded AI and a set of prescriptive rules to further enable a more real-time understanding of user behavior, thus speeding up the identification of fraudulent behaviors.
OneSpan is the third DTM provider to add AI to their platform, following Adobe and DocuSign, which purchased Appuri last December. Aragon has been discussing Intelligent Content Analytics (ICA) and the need for AI in overall content-related processes. It is good to see leading DTM providers making some strong moves.
So, for OneSpan, it was a big week, and given the critical nature of document transactions, Dealflo gives them a formidable set of customers that they can leverage going forward.