OneSpan Announces Integration Platform for eSignatures

Rhea-AI Summary

OneSpan (NASDAQ: OSPN) has launched the OneSpan Integration Platform, a modern solution enabling effortless eSignature integration into popular applications such as Microsoft Apps, Google Workspace, Salesforce, and Workday. This platform offers a low-code/no-code approach, streamlining implementation without the need for extensive developer resources, thus enhancing business agility, reducing IT costs, and increasing ROI.

The platform supports 1,000+ application integrations with built-in security measures, including encryption and authentication. Future developments will include a self-service marketplace and BYOI features.

The platform aims to mitigate risks, protect data, and automate processes, making business workflows seamless and efficient.

Positive

• Launch of OneSpan Integration Platform, enhancing business processes efficiency.
• Enables seamless eSignature integration into popular applications like Microsoft Apps, Google Workspace, Salesforce, and Workday.
• Low-code/no-code approach reduces need for extensive developer resources.
• Supports 1,000+ application integrations, enhancing business agility and automation.
• Built-in security measures including encryption, authentication, and access controls to protect sensitive information.
• Potential to increase ROI and reduce IT costs by eliminating the need for specialized integration development.

Negative

• Potential competition from other low-code/no-code integration platforms.
• Dependent on the successful adoption of the platform by organizations to realize ROI.
• No immediate financial impact reported with the launch, making it uncertain how quickly it will affect stock performance.

Insights

Tech Expert

The launch of the OneSpan Integration Platform introduces a significant advancement for organizations looking to streamline their digital workflows. The platform's low-code/no-code nature is particularly noteworthy. This trend, which simplifies software development by allowing users to create applications with minimal or no coding, can significantly reduce the time and cost associated with traditional API and SDK integration methods.

The ability to integrate eSignatures into over 1,000+ applications, including popular ones such as Microsoft Apps, Google Workspace, Salesforce and Workday, positions OneSpan as a versatile player in the digital agreement market. By addressing common pain points such as security and ease of integration, the platform promises to enhance productivity and operational efficiency.

Furthermore, the platform’s built-in security measures, including encryption and authentication, ensure data protection, which is critical in today's regulatory environment. This makes it an attractive option for enterprises looking to maintain compliance while optimizing their workflows.

From a retail investor's perspective, understanding the practical benefits and potential adoption of the OneSpan Integration Platform can help gauge its impact on OneSpan's future revenue streams. The enhanced agility and reduced IT costs could translate into higher ROI for organizations, making OneSpan's offering appealing in a competitive market.

Market Research Analyst

The introduction of the OneSpan Integration Platform comes at a time when organizations are increasingly adopting SaaS applications. The average of 342 apps used by businesses indicates a growing demand for integration solutions. OneSpan's platform is timed well to capitalize on this trend by offering a solution that not only integrates with existing software but also simplifies the process with a low-code/no-code approach.

The platform's potential to reduce IT costs and improve business agility can be particularly appealing in sectors where rapid deployment and minimal maintenance are crucial. This positions OneSpan well against competitors who might still rely on more traditional, resource-intensive integration methods.

In terms of market positioning, OneSpan's focus on developing a self-service marketplace and BYOI (Bring-your-own-iPaaS) aligns with the increasing demand for flexible and customizable digital solutions. These future developments indicate a forward-looking strategy that could enhance customer retention and attract new clients looking for adaptable and user-friendly integration options.

For retail investors, understanding the scalability and adaptability of OneSpan's solutions can provide insights into the company's long-term growth prospects. As businesses continue to prioritize digital transformation, platforms that facilitate seamless and secure integrations are likely to see sustained demand.

Modern platform enables organizations to build out-of-the-box integrations in a configurable, secure, and cost-efficient way

BOSTON--(BUSINESS WIRE)-- OneSpan Inc. (NASDAQ: OSPN) today announced the launch of the OneSpan Integration Platform. This modern platform enables organizations to effortlessly integrate eSignatures into well-known applications, ensuring that sending, signing, and storing transactions is seamless and more efficient.

The number of SaaS applications businesses use has increased rapidly in recent years, with organizations using 342 apps on average. The vast number and application types make it hard for IT teams to maintain performance and security effectively. On top of that, employees struggle to complete their work while navigating between numerous applications, especially when so many of these applications are utilized for end-to-end business processes. Organizations are looking for modern solutions that make their business processes seamless and more effective. Traditional development approaches via API or SDK are also expensive as they require dedicated development efforts.

OneSpan’s Integration Platform enables organizations to easily integrate OneSpan Sign into the application of their choice. These pre-built integrations, which range from popular business apps including Microsoft Apps, Google Workspace, Salesforce, and Workday allow organizations to manage a seamless, modern digital agreement process. Unlike legacy industry offerings, the OneSpan Integration Platform offers a low-code/no-code approach to implement OneSpan Sign directly into existing workflows without the need for developer resources. The new platform announced today will increase ROI, automate processes, and boost customer productivity.

“eSignatures are essential in today’s digital transformation journey, but their true value is realized only when integrated into the broader workflow,” said Holly Muscolino, Group Vice President, Workplace Solutions at IDC. “OneSpan’s new platform addresses this critical need by offering out-of-the-box integrations, enabling eSignature functionalities to be embedded into business processes.”

With the OneSpan Integration Platform, organizations can:

• Increase business agility: The OneSpan Integration platform provides a single powerful automation solution to cover front-office and back-office use cases across any size organization.
• Accelerate implementation: Since the Integration Platform is low-code/no-code, customers can get started faster with little to no coding development.
• Mitigate risks and protect data: Customers’ sensitive information is protected and security loopholes are minimized with pre-tested integrations and built-in security measures, including encryption, authentication, and access controls.
• Reduce IT costs: OneSpan Integration Platform is a built-in, out-of-the-box solution that eliminates integration development and specialized skills to connect APIs or SDKs.

“Modern organizations require a new approach to integrations, one that leverages a low-code, no-code framework, to allow for rapid deployment and low maintenance,” said Sameer Hajarnis, SVP and GM of Digital Agreements at OneSpan. “Our new platform embodies this approach. By eliminating traditional complexities associated with API integrations, we enable organizations to enhance their business processes quickly and efficiently, all while upholding the highest standards of security.”

The new platform can support a comprehensive list of 1,000+ application integrations, all of which are easily adaptable to users’ unique workflows. Looking ahead, OneSpan plans to enhance the platform with support for a self-service marketplace and BYOI (Bring-your-own-iPaaS) to connect directly with OneSpan Sign. These future developments will empower organizations to leverage OneSpan Sign and access a wide variety of third-party integrations, further customizing their digital transaction workflows.

Additional Resources

• For more information on the OneSpan Integration Platform, please see this company blog.
• Join our upcoming Digital Agreements webinar on June 18.
• Watch our Integration Platform video here.

About OneSpan

OneSpan provides security, identity, electronic signature (“e-signature”), and digital workflow solutions that protect and facilitate digital transactions and agreements. The Company delivers products and services that automate and secure customer-facing and revenue-generating business processes for use cases ranging from simple transactions to workflows that are complex or require higher levels of security. Trusted by global blue-chip enterprises, including more than 60% of the world’s largest 100 banks, OneSpan processes millions of digital agreements and billions of transactions in 100+ countries annually.

For more information, go to www.onespan.com. You can also follow @OneSpan on Twitter or visit us on LinkedIn and Facebook.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable U.S. securities laws, including statements regarding potential future plans, expectations, features, benefits, use cases, integrations, and outcomes of the Integration Platform. Forward-looking statements may be identified by words such as "seek", "believe", "plan", "estimate", "anticipate", “expect", "intend", "continue", "outlook", "may", "will", "should", look forward” "could", or "might", “looking ahead,” “future,” and other similar expressions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Factors that could materially affect our business and financial results include, but are not limited to the factors described in the “Risk Factors” section of our most recent Annual Report on Form 10-K. Our filings with the Securities and Exchange Commission (the “SEC”) and other important information can be found in the Investor Relations section of our website at investors.onespan.com. We do not have any intent, and disclaim any obligation, to update the forward-looking information to reflect events that occur, circumstances that exist or changes in our expectations after the date of this press release, except as required by law.

Copyright© 2024 OneSpan North America Inc., all rights reserved. OneSpan™ is a registered or unregistered trademark of OneSpan North America Inc. or its affiliates in the U.S. and other countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240611259935/en/

Media contact:

Nicole Bosgraaf

Director, Global PR and Social Media

+1-401-219-2131

nicole.bosgraaf@onespan.com

Investor contact:

Joe Maxa

Vice President of Investor Relations

+1-312-766-4009

joe.maxa@onespan.com

Source: OneSpan Inc.

FAQ

What is the OneSpan Integration Platform?

The OneSpan Integration Platform is a modern solution that enables organizations to integrate eSignatures into popular applications using a low-code/no-code approach.

Which applications are supported by the OneSpan Integration Platform?

The platform supports popular applications including Microsoft Apps, Google Workspace, Salesforce, and Workday.

What are the benefits of using the OneSpan Integration Platform?

Benefits include increased business agility, reduced IT costs, enhanced security, and a seamless eSignature integration process.

How does the OneSpan Integration Platform ensure data security?

The platform includes built-in security measures such as encryption, authentication, and access controls to protect sensitive information.

What future developments are planned for the OneSpan Integration Platform?

Future developments include a self-service marketplace and BYOI (Bring-your-own-iPaaS) features to further customize digital transaction workflows.

How many application integrations does the OneSpan Integration Platform support?

The platform supports over 1,000 application integrations.

What is the approach used by the OneSpan Integration Platform for implementation?

The platform uses a low-code/no-code approach for easy and rapid deployment without extensive developer resources.

How does the OneSpan Integration Platform impact IT costs?

It reduces IT costs by eliminating the need for specialized integration development and connecting APIs or SDKs.

What is the stock symbol of OneSpan?

The stock symbol of OneSpan is OSPN.