OneSpan Inc. (formerly VASCO Data Security International) is a cybersecurity and digital identity company that specializes in secure authentication and digital agreements. The company's business model is increasingly focused on cloud-based software and subscription services, transitioning from its historical reliance on hardware-based security tokens (such as its Digipass line). OneSpan operates through two primary revenue segments: Security Solutions, which includes multi-factor authentication, identity verification, and fraud prevention technologies (accounting for approximately 75% of 2024 revenue), and Digital Agreements, which provides electronic signature and digital workflow solutions (accounting for the remaining 25%). The company serves a global footprint, with a particularly strong presence in the EMEA region and a client base that includes major financial institutions, enterprises, and government agencies. OneSpan's competitive position is anchored by its deep integration into the banking sector, where it secures billions of transactions annually and competes with other identity and access management vendors like Okta, Entrust, and Yubico, as well as e-signature providers.
