OneSpan Acquires Passwordless Authentication Specialist Nok Nok Labs

OneSpan announced Thursday (June 5) its acquisition of Nok Nok Labs, a provider of FIDO passwordless software authentication solutions.

OneSpan said joining forces with Nok Nok enables the company to provide customers worldwide with a comprehensive authentication portfolio, available on-premises or in the cloud. This combined offering now includes support for OTP, FIDO, software, and hardware solutions, such as Digipass, FIDO2 protocols, and Cronto solutions for transaction signing.

The acquisition is intended to combine the strengths of both companies into a unified portfolio designed to deliver greater value to banking and enterprise customers, according to a press release.

Victor Limongelli, CEO at OneSpan, described the acquisition as a “bold step toward providing customers with maximum choice in authentication.” He added that the company is evolving its entire authentication platform to include FIDO standards, believing that passwordless authentication is an important part of the future. With Nok Nok’s technology and FIDO expertise, OneSpan aims to offer a comprehensive and versatile customer authentication solution.

Phillip Dunkelberger, president and CEO at Nok Nok, noted that joining OneSpan allows them to bring their vision, rooted in open standards like FIDO, to a broader audience via OneSpan’s global reach. Andrew Shikiar, executive director and CEO of the FIDO Alliance, said Nok Nok has been a “trailblazer” in the FIDO ecosystem.

Nok Nok Labs is a founding member of the FIDO Alliance and has been involved in advancing passwordless authentication standards globally. The company provides standards-based security solutions for enterprises across the U.S., Asia, and Europe. Their platform supports UAF and FIDO2 protocols.

OneSpan’s prior moves in the authentication space include a 2021 partnership with Norwegian electronic ID provider BankID, which provides authentication services to banks and government institutions across Norway.

This initiative integrated OneSpan’s cloud authentication and anti-fraud offerings, including OneSpan’s Mobile Security Suite, application shielding, and cloud authentication to protect BankID against threats and fraud.

OneSpan and BankID said that the partnership delivered secure and trusted digital identity experiences while also minimizing friction, mitigating fraud, and potentially reducing operational costs.