Highlights:

  • The solution is intended to assist in addressing the growing cybersecurity threats facing the banking industry, as losses from digital fraud are expected to exceed USD 343 billion globally between 2023 and 2027.
  • With VISION FX, you can provide passwordless login, phishing-resistant transaction signing, and What You See Is What You Sign with zero footprint by combining the security features of CRONTO and FIDO 2.

OneSpan Inc. launched VISION FX, a news phishing-resistant transaction security offering that fortifies security against phishing and account compromising events. OneSpan offers cloud authentication cybersecurity and electronic signature service.

VISION FX creates a single authentication solution by fusing Fast Identity Online version 2 protocols with OneSpan’s CRONTO transaction signaling. For banking clients signing on to carry out transitions, the solution claims to offer the safest and most intuitive choice available.

The solution is intended to assist in addressing the growing cybersecurity threats facing the banking industry, as losses from digital fraud are expected to exceed USD 343 billion globally between 2023 and 2027. According to OneSpan, banks require more advanced techniques in the current security landscape to safeguard transactions and accounts from increasing social engineering attacks, unauthorized access, and account takeover efforts. Here’s where VISION FX becomes useful.

With VISION FX, you can provide passwordless login, phishing-resistant transaction signing, and What You See Is What You Sign with zero footprint by combining the security features of CRONTO and FIDO 2. In contrast to other solutions currently available in the market, VISION FX offers a specialized gadget with transaction information safely displayed on its screen, giving users a fresh method for authenticating against phishing attempts.

Giovanni Verhaeghe, Senior Vice President of corporate and business development at OneSpan, said, “For three decades, our customers have trusted us to lead the way in banking security innovation, consistently staying ahead of emerging threats. With VISION FX, we are bringing a future-proof approach to digital banking authentication that sets the new standard in online transaction security while also creating a seamless user experience.”

OneSpan also announced DIGIPASS FX7, the newest model in its Digipass authenticators product line, in conjunction with the launch of VISION FX. The new digital authenticator is positioned as a phishing-resistant, FIDO2-enabled, user-friendly, and straightforward authenticator for enterprises seeking to counteract account takeover and social engineering threats. In addition, the new gadget supports “work from anywhere, anytime on any device” policies, providing an enhanced user experience.