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Stock impact report

SuMiTB implements FIDO authentication to secure mobile banking services [Yahoo! Finance]

OneSpan Inc. (OSPN) 
Last onespan inc. earnings: 3/3 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
This move introduces OneSpan's cloud-based FIDO authentication solution to the Japanese mobile banking sector, following on-premises deployments in the country. The collaboration aims to address the increasing threat of phishing-related fraud and account takeover, and to align with evolving regulatory requirements in Japan. This deployment comes as Japan faces significant losses from account takeover fraud, which is projected to reach around Y690bn ($4.4bn) in 2025. Additionally, Japan's Financial Services Agency (FSA) has proposed amendments to its supervisory guidelines, which require financial institutions to implement phishing-resistant authentication methods. OneSpan CEO Victor Limongelli said: “We are proud to be chosen by SuMiTB and SCSK for this landmark project. “This selection not only underscores OneSpan's leadership and credibility in Japan's rapidly evolving FIDO market but also demonstrates our ability to deliver enterprise-scale, phishing-resistant authentica Show less Read more
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