OneSpan Inc. (OSPN): Business Model Canvas

Key Partnerships

OneSpan Inc. understands the importance of building strong partnerships in order to provide comprehensive solutions to its clients. The company has established key partnerships in the following areas:

Collaboration with technology and security providers: OneSpan works closely with leading technology and security providers to leverage their expertise and resources in developing innovative solutions. By partnering with companies that specialize in areas such as biometric authentication, artificial intelligence, and encryption, OneSpan is able to offer cutting-edge solutions that meet the evolving needs of its clients.

• Collaboration with biometric authentication companies such as Nuance and Veridium
• Partnerships with artificial intelligence providers like IBM and Microsoft
• Strategic alliances with encryption specialists such as Gemalto and Thales

Strategic alliances with global financial institutions: OneSpan has formed strategic alliances with major global financial institutions to provide secure and seamless digital solutions to their customers. By collaborating with banks and financial services firms, OneSpan is able to tailor its offerings to meet the unique requirements of the financial industry.

• Alliance with major banks including JPMorgan Chase, Bank of America, and HSBC
• Partnerships with financial services firms like Fidelity Investments and Vanguard
• Collaboration with payment processors such as Visa and Mastercard

Partner network for distribution and integration services: OneSpan has built a strong partner network for the distribution and integration of its solutions. By working with value-added resellers, system integrators, and consultants, OneSpan is able to extend its reach and deliver its products and services to a wide range of industries and geographies.

• Partner network includes companies such as Accenture, Deloitte, and PwC
• Collaboration with technology distributors like Ingram Micro and Tech Data
• Strategic alliances with industry-specific partners in sectors such as healthcare, government, and retail

Key Activities

Development of security software and tools: OneSpan Inc. focuses on developing innovative security software and tools to help organizations protect their digital assets and prevent fraud. This includes technologies such as multi-factor authentication, digital signing, and secure transactions. The company's team of experts work tirelessly to stay ahead of emerging threats and develop cutting-edge solutions to address the evolving needs of their clients.

Customer support and service delivery: OneSpan understands the importance of providing excellent customer support to ensure the successful implementation and use of their security solutions. The company offers 24/7 support to address any issues or concerns that may arise, and works closely with clients to tailor their services to meet specific needs. This commitment to exceptional service delivery sets OneSpan apart from its competitors and helps foster long-lasting relationships with its customers.

Research in digital identity and fraud protection: OneSpan is dedicated to staying at the forefront of digital identity and fraud protection research. The company invests heavily in R&D to continue pushing the boundaries of what is possible in terms of securing digital transactions and safeguarding sensitive information. By staying ahead of the curve and anticipating future threats, OneSpan is able to provide its clients with the most advanced and effective security solutions on the market.

• Continuously developing new security software
• Providing round-the-clock customer support
• Investing in research and development for digital identity and fraud protection

Key Resources

OneSpan Inc. relies on several key resources to drive its operations and maintain its competitive edge in the digital security industry.

• OneSpan Inc. invests heavily in developing and maintaining its proprietary software and technologies. These include advanced authentication and encryption solutions that are critical for ensuring the security of digital transactions.
• The company's software and technologies are continuously updated to stay ahead of emerging threats in the cybersecurity landscape.

• OneSpan Inc. boasts a team of skilled IT professionals and cybersecurity experts who are integral to the company's success.
• These professionals are responsible for designing, implementing, and maintaining the company's digital security solutions, as well as providing support to customers.

• OneSpan Inc. has built a strong brand in the digital security industry, known for its innovative solutions and commitment to customer satisfaction.
• The company's reputation for providing reliable and effective digital security products has helped it attract and retain customers in a competitive market.

Value Propositions

OneSpan Inc. (OSPN) offers a range of value propositions that cater to the needs of businesses looking to enhance their digital transactions and compliance with global regulations. These value propositions include:

• OneSpan's solutions provide advanced security measures such as multi-factor authentication, biometric capabilities, and secure document signing to ensure that digital transactions are safe and secure.
• By leveraging cutting-edge technology and encryption methods, OneSpan helps businesses protect their sensitive data and prevent fraudulent activities.

• OneSpan's solutions are designed to meet the stringent regulatory requirements imposed by various jurisdictions around the world.
• With features such as audit trails, electronic signatures, and data encryption, OneSpan helps businesses stay compliant with regulations such as GDPR, eIDAS, and PCI DSS.

• OneSpan offers customizable solutions that can be tailored to meet the unique needs of businesses across different industries and sectors.
• Whether it's a small e-commerce business or a large financial institution, OneSpan's solutions can be customized to fit the specific requirements of each client.

Customer Relationships

OneSpan Inc. prides itself on building strong and lasting relationships with its customers. Our dedicated account management team works closely with each client to understand their unique needs and provide personalized solutions to help them achieve their business goals.

Customers can rely on our 24/7 customer support services to assist them with any questions or issues that may arise. Our team of experts is always available to provide prompt and efficient support to ensure a smooth and seamless experience for our customers.

In addition to account management and customer support, we also offer professional and consulting services to help our customers optimize their use of our products and maximize their return on investment. Our team of industry experts has the knowledge and experience to provide valuable insights and guidance to help our customers succeed.

• Dedicated account management: Our account management team works closely with each client to provide personalized solutions and support.
• 24/7 customer support services: Customers can rely on our team of experts to provide prompt and efficient support around the clock.
• Professional and consulting services: Our industry experts offer valuable insights and guidance to help customers optimize their use of our products and maximize ROI.

Channels

OneSpan Inc. employs a variety of channels to reach its target customers and generate revenue. These channels include:

• Direct sales team: OneSpan has a dedicated sales team that is responsible for directly reaching out to potential customers and closing deals. This team is well-trained in the company's products and services, allowing them to effectively communicate the value proposition to prospects.
• Online platform and website: OneSpan's online platform and website serve as a crucial channel for customer acquisition and engagement. Prospective customers can learn more about the company's offerings, request demonstrations, and even make purchases directly through the website. The online platform also provides a convenient way for existing customers to access support resources and product updates.
• Network of channel partners: OneSpan has established partnerships with a network of channel partners, including resellers, distributors, and value-added resellers. These partners help extend OneSpan's reach into diverse markets and industries, leveraging their own networks and expertise to promote and sell OneSpan's products. This channel strategy allows OneSpan to tap into new customer segments and geographic regions that may be otherwise difficult to reach.

Customer Segments

OneSpan Inc. primarily focuses on catering to three main customer segments:

• Financial institutions: OneSpan provides security solutions to banks, credit unions, and other financial institutions to help prevent fraud and enhance customer protection. These institutions rely on OneSpan's technology to secure online banking transactions, mobile payments, and digital onboarding processes.
• Government entities: Government agencies at both the federal and state levels require secure solutions to protect sensitive data and ensure compliance with regulations. OneSpan offers identity verification, e-signature, and document protection services to help these entities streamline processes and improve security.
• Healthcare providers: The healthcare industry deals with a vast amount of sensitive patient information that needs to be protected from cyber threats. OneSpan's solutions help healthcare providers safeguard electronic health records, facilitate secure telemedicine consultations, and ensure compliance with strict privacy regulations such as HIPAA.

By focusing on these customer segments, OneSpan is able to tailor its offerings to meet the specific security needs and regulatory requirements of each industry. This targeted approach allows the company to build deeper relationships with its customers and position itself as a trusted partner in safeguarding critical data and transactions.

Cost Structure

OneSpan Inc. (OSPN) operates with a cost structure that is aligned with its business model and strategic goals. The company incurs various expenses to develop and market its products, as well as to support its operations and administrative functions.

Research and Development Expenses: OneSpan invests a significant amount of resources in research and development to drive innovation and stay ahead of competition. This includes funding for product development, software engineering, and testing to ensure high-quality solutions for customers.

Sales and Marketing Costs: OneSpan allocates a portion of its budget towards sales and marketing efforts to promote its products and services to target markets. This includes expenses for advertising, promotional campaigns, trade shows, and sales team commissions.

Operational and Administrative Overhead: OneSpan incurs operational and administrative costs to support its day-to-day activities and business operations. This includes expenses for office rent, utilities, salaries for support staff, legal and accounting services, and general administrative expenses.

• Research and Development Expenses
• Product development
• Software engineering
• Testing
• Sales and Marketing Costs
• Advertising
• Promotional campaigns
• Trade shows
• Sales team commissions
• Operational and Administrative Overhead
• Office rent
• Utilities
• Salaries for support staff
• Legal and accounting services
• General administrative expenses

Revenue Streams

OneSpan Inc. generates revenue through various streams to sustain its operations and drive growth. The primary revenue streams include:

Licensing fees for software products: OneSpan offers a range of software products tailored to meet the evolving needs of its customers. These products are licensed to organizations on a subscription basis, allowing them to access the latest features and updates while ensuring a steady stream of revenue for the company.

Revenues from professional services: In addition to its software products, OneSpan provides professional services to assist customers in implementing and optimizing their technology solutions. These services include consulting, training, customization, and integration support, which are offered at an additional cost to generate revenue for the company.

Subscription fees for cloud-based solutions: OneSpan also offers cloud-based solutions that provide customers with flexibility, scalability, and cost-effectiveness. These solutions are offered on a subscription basis, allowing customers to pay for the services they use while providing OneSpan with recurring revenue streams.

• Licensing fees for software products
• Revenues from professional services
• Subscription fees for cloud-based solutions