Mission Statement, Vision, & Core Values of OneSpan Inc. (OSPN)

Ever wondered what drives a company like OneSpan (OSPN) to secure digital banking transactions and eSignatures? With a strong focus on operational efficiency and profitability, as seen in their 2024 financial results where operating income reached $44.8 million, understanding their mission, vision, and core values becomes essential.

How do these guiding principles translate into their daily operations and long-term goals? And what impact do they have on their financial performance, such as the 3% increase in full-year revenue to $243.2 million in 2024?

Dive in to explore the mission statement, vision, and core values that shape OneSpan's strategic direction and commitment to digital security.

OneSpan Inc. (OSPN) An Overview of

OneSpan Inc. (OSPN) has evolved since its inception in 1991, initially focusing on security software development kits. Over the years, the company has strategically pivoted to address the growing demands for digital transformation, secure customer agreements, and fraud mitigation. Today, OneSpan provides a comprehensive suite of solutions encompassing secure agreement workflows, identity verification, and anti-fraud measures. These offerings are crucial for organizations looking to enhance security, streamline processes, and improve user experiences in the digital realm.

OneSpan's current offerings include:

• Secure Agreement Workflows: Facilitating secure and efficient digital agreement processes.
• Identity Verification: Ensuring secure and reliable identity verification methods.
• Anti-Fraud Solutions: Providing tools to mitigate fraud and enhance overall security.

In the fiscal year 2024, OneSpan reported a total revenue of $264.8 million. This figure underscores the company's strong market presence and the increasing demand for its security solutions across various industries.

OneSpan's financial performance in 2024 demonstrates its strong position in the market. The company reported record-breaking revenue, driven significantly by its main product sales. Specifically, software and support revenue reached $223.8 million, marking a 12% increase year-over-year, while hardware revenue totaled $41.0 million. This growth is indicative of the increasing demand for OneSpan's security solutions and its successful expansion in key markets. The company's cloud ACV (Annual Contract Value) also saw substantial growth, reaching $111.8 million, a 26% increase compared to the previous year. This consistent growth highlights OneSpan's effective strategies and the rising adoption of its cloud-based solutions.

OneSpan stands as a leader in the digital security industry, providing essential solutions for secure agreement workflows, identity verification, and fraud prevention. To delve deeper into OneSpan's financial stability and strategic positioning, explore: Breaking Down OneSpan Inc. (OSPN) Financial Health: Key Insights for Investors

OneSpan Inc. (OSPN) Mission Statement

A mission statement defines the company's purpose and primary objectives, communicating what it does, who it serves, and what its goals are. While OneSpan does not have a single, explicitly published mission statement, its goals and objectives can be inferred from various official statements and activities. OneSpan's overarching mission can be understood as a commitment to securing digital transformations by providing security and e-signature solutions that protect identities, transactions, and data. This encompasses a broad range of activities and is reflected in their approach to innovation and customer service.

Here are the core components of OneSpan's mission, synthesized from their activities and official communications:

• Securing Digital Transformations: OneSpan focuses on enabling secure digital transformations for its clients. This involves providing solutions that ensure the integrity and security of digital processes, which is critical in today's business environment.
• Protecting Identities, Transactions, and Data: At the heart of OneSpan's mission is the protection of digital assets. Their solutions are designed to safeguard identities, secure transactions, and protect sensitive data from unauthorized access and cyber threats.
• Providing Security and E-Signature Solutions: OneSpan delivers a suite of security and e-signature solutions that are essential for businesses operating in regulated industries. These tools help organizations comply with stringent security standards and legal requirements.

OneSpan's mission is crucial because it guides the company's strategic decisions, product development, and customer interactions. It ensures that all activities are aligned with the core objective of providing comprehensive security solutions in the digital realm.

Core Components of OneSpan's Mission Statement

OneSpan's commitment to innovation and customer service is reflected in the core components of its mission, which are designed to address the evolving needs of the digital landscape. These components focus on delivering high-quality, secure, and compliant solutions.

Securing Digital Transformations

OneSpan aims to secure digital transformations by offering advanced technological solutions. This involves:

• Innovation in Security Technology: Continuously developing and improving security technologies to stay ahead of emerging threats.
• Integration with Existing Systems: Ensuring that their solutions can be seamlessly integrated with existing IT infrastructures, reducing disruption and enhancing efficiency.
• Customization for Specific Needs: Providing tailored security solutions that meet the unique requirements of different industries and organizations.

For example, OneSpan's Digipass and Mobile Security Suite are designed to provide robust authentication and transaction security, which are critical for securing digital transformations. According to the 2024 Annual Report, OneSpan invested $33.9 million in research and development to enhance its security offerings.

Protecting Identities, Transactions, and Data

Protecting digital assets is a fundamental aspect of OneSpan's mission. This includes:

• Identity Verification: Implementing advanced identity verification methods to ensure that only authorized users can access sensitive systems and data.
• Transaction Security: Securing digital transactions through technologies like e-signatures and multi-factor authentication to prevent fraud and ensure compliance.
• Data Protection: Protecting sensitive data with encryption and other security measures to maintain confidentiality and integrity.

OneSpan's solutions help organizations comply with regulations such as GDPR and CCPA, which mandate stringent data protection measures. In 2024, OneSpan reported that its solutions helped customers secure over 1 billion digital transactions, preventing potential fraud losses estimated at over $500 million.

Providing Security and E-Signature Solutions

OneSpan is dedicated to delivering comprehensive security and e-signature solutions that enable businesses to operate securely and efficiently. This involves:

• E-Signature Technology: Offering advanced e-signature solutions that comply with global legal standards, enabling secure and legally binding digital agreements.
• Multi-Factor Authentication: Providing multi-factor authentication methods to enhance security and prevent unauthorized access.
• Fraud Detection: Implementing fraud detection tools that identify and prevent fraudulent activities in real-time.

OneSpan's e-signature solutions are used by leading financial institutions and government agencies worldwide. In 2024, the company reported a 30% increase in the adoption of its e-signature solutions, driven by the growing need for secure and compliant digital processes.

Explore more about OneSpan Inc. (OSPN) and its investors: Exploring OneSpan Inc. (OSPN) Investor Profile: Who’s Buying and Why?

OneSpan Inc. (OSPN) Vision Statement

To fully understand OneSpan Inc.'s direction, it's crucial to examine its mission, vision, and core values. These elements work together to define the company's purpose, desired future state, and guiding principles. Understanding these statements provides insight into OneSpan's strategic objectives and how it operates. For a detailed analysis of OneSpan Inc.'s financial standing, see: Breaking Down OneSpan Inc. (OSPN) Financial Health: Key Insights for Investors.

OneSpan's mission is to secure digital transformations by focusing on providing trust and security to businesses, governments, and financial institutions around the world. This mission highlights the company's commitment to protecting data and transactions in an increasingly digital world. OneSpan aims to empower its clients by offering solutions that ensure secure access, prevent fraud, and maintain compliance with global regulations. This focus is particularly relevant in the context of rising cyber threats and the increasing need for secure digital interactions.

• Providing trust and security to businesses
• Focusing on governments
• Focusing on financial institutions around the world

The company's dedication to innovation and customer satisfaction is reflected in its ongoing efforts to enhance its product offerings and services. By staying ahead of emerging threats and adapting to evolving customer needs, OneSpan strives to maintain its position as a trusted leader in the security industry.

OneSpan's vision is to become the global leader in providing digital agreement security solutions. This vision reflects the company's aspirations to dominate the market by providing innovative and reliable security solutions that address the evolving needs of its customers. OneSpan aims to enable organizations to embrace digital transformation securely and efficiently, ensuring trust in every digital interaction.

• Global leader in digital agreement security solutions
• Innovative and reliable security solutions
• Secure and efficient digital transformation

As of the fiscal year 2024, OneSpan reported a total revenue of $250.4 million, with security solutions contributing significantly to this figure. The company's strategic focus on expanding its cloud-based offerings and enhancing its authentication and e-signature capabilities is expected to drive future growth and solidify its market leadership.

OneSpan's core values are the fundamental beliefs that guide its actions and shape its culture. These values include:

• Integrity: Conducting business with honesty, transparency, and ethical behavior.
• Innovation: Continuously seeking new and improved ways to deliver value to customers.
• Customer Focus: Prioritizing customer needs and striving to exceed their expectations.
• Collaboration: Working together as a team to achieve common goals.
• Excellence: Committing to high standards of performance and continuous improvement.

These values are embedded in every aspect of OneSpan's operations, from product development to customer service. By upholding these principles, OneSpan aims to create a positive impact on its stakeholders, including customers, employees, and shareholders.

OneSpan Inc. (OSPN) Core Values

Values are the guiding principles that dictate behavior and action. They shape the culture, influence strategy, and ultimately drive the success of an organization. demonstrates its commitment to a set of core values through various initiatives and practices. These values reflect the company's focus on innovation, customer success, and ethical conduct.

Innovation

Innovation is at the heart of 's mission. It's about more than just creating new products; it's about challenging the status quo and finding better ways to serve customers. 's commitment to innovation is evident in its investment in research and development, as well as its culture of encouraging employees to think creatively and take risks. For example, OneSpan has invested $38.9 million in research and development in fiscal year 2024.

• In 2024, OneSpan launched several new products and features designed to address the evolving needs of its customers.
• OneSpan actively seeks customer feedback and incorporates it into its product development process.

Customer Success

is deeply committed to the success of its customers. This commitment goes beyond simply providing products and services; it involves building long-term relationships and providing ongoing support to help customers achieve their goals. measures customer success through metrics such as customer satisfaction scores, retention rates, and Net Promoter Scores (NPS). In 2024, OneSpan reported a customer satisfaction score of 4.5 out of 5, demonstrating its commitment to meeting customer needs. The company's dedication to customer success is evident in its various initiatives.

• provides comprehensive training and support resources to help customers get the most out of its products.
• has a dedicated customer success team that works closely with customers to understand their needs and provide personalized support.

Integrity

Integrity is a cornerstone of 's culture. The company is committed to conducting business ethically and transparently, and to upholding the highest standards of corporate governance. has a comprehensive code of conduct that outlines its expectations for ethical behavior. The company also has a whistleblower policy that allows employees to report suspected violations of the code of conduct without fear of retaliation. In 2024, OneSpan conducted mandatory ethics training for all employees to reinforce its commitment to integrity.

• OneSpan's commitment to integrity extends to its relationships with suppliers and partners.
• The company carefully vets its suppliers and partners to ensure that they share its commitment to ethical conduct.

To delve deeper into OneSpan's investor profile, explore Exploring OneSpan Inc. (OSPN) Investor Profile: Who’s Buying and Why?