OneSpan has completed its acquisition of Nok Nok Labs, a leader in FIDO-based passwordless authentication technologies. The deal significantly strengthens OneSpan’s position in the digital identity and authentication market, particularly for banking and enterprise customers seeking advanced security solutions.
Bringing FIDO Expertise Into OneSpan’s Portfolio
The acquisition integrates Nok Nok Labs’ deep expertise in FIDO and FIDO2 authentication protocols with OneSpan’s broad portfolio of authentication products. While the financial terms of the deal were not disclosed, both companies emphasized the strategic importance of the move in accelerating the transition to passwordless security models.
“This acquisition marks a bold step toward providing customers with maximum choice in authentication,” said Victor Limongelli, CEO of OneSpan. “We’re evolving our entire authentication platform to include FIDO standards, recognizing that passwordless authentication is an important part of the future.”
With the addition of Nok Nok Labs, OneSpan’s offering now spans a range of on-premise and cloud-based solutions, including One-Time Password (OTP), FIDO and FIDO2-based protocols, software and hardware authenticators, Digipass devices, and Cronto solutions for transaction signing. These capabilities build on Nok Nok’s recent innovations in its S3 Authentication Suite, which is widely used by major financial institutions.
Industry Trends and Strategic Alignment
The acquisition comes as the broader cybersecurity industry shifts away from traditional password-based systems. The FIDO Alliance, of which both companies are long-standing members, has been instrumental in developing standards that promote secure, user-friendly authentication methods. Nok Nok Labs was a founding member of the Alliance, while OneSpan holds a position on its board.
Nok Nok Labs has played a pivotal role in deploying passwordless systems for clients such as Verizon, BBVA, Intuit, and NTT Docomo. Its advocacy for open authentication standards and partnerships with organizations like the GSMA have helped shape global norms around digital identity and access control. OneSpan’s acquisition of the company consolidates this expertise within a single platform aimed at simplifying deployment and expanding use across sectors.
The move also reflects increasing pressure on enterprises to modernize authentication in the face of rising cybersecurity threats. The World Economic Forum has cited passwordless authentication as a key enabler of safer digital infrastructure, and organizations across industries are exploring FIDO-based tools to reduce fraud and improve the user experience.
Sources: OneSpan, PYMNTS, Mobile ID World
—
June 6, 2025 – by Ali Nassar-Smith
