Japan’s largest trust bank takes action to protect customers from account takeover and advanced phishing threats with FIDO authentication solution

BOSTON & TOKYO--(BUSINESS WIRE)--

OneSpan Inc. ( OSPN ) today announced that Sumitomo Mitsui Trust Bank (SuMiTB), Japan’s largest trust bank, has chosen SCSK Corporation and OneSpan ( OSPN ) to strengthen its mobile banking security and address the growing threat of phishing-related fraud. Building on OneSpan’s experience with many on-premises FIDO authentication deployments in Japan, this collaboration marks the first deployment of OneSpan’s cloud-based FIDO authentication solution for mobile banking in Japan, made possible by the combined expertise of SCSK and OneSpan ( OSPN ). By adopting a future-ready FIDO authentication solution, SuMiTB is taking a significant step toward modernizing its security infrastructure and better protecting its customers in an evolving digital landscape.

This deployment comes at a pivotal moment, as Japan faces escalating account takeover fraud losses totaling approximately ¥690 billion in 2025 alone, along with new regulatory mandates for stronger multi-factor authentication. In alignment with recent directives issued by Japan’s Financial Services Agency (FSA), the FSA has proposed amendments to its supervisory guidelines that would make phishing-resistant authentication mandatory for financial institutions. This integration reinforces the growing momentum for FIDO authentication in Japan’s financial sector and highlights a scalable approach for institutions aiming to strengthen security and meet evolving regulatory standards.

While FIDO authentication has traditionally been used for login verification, SuMiTB is taking a significant step forward by planning to integrate FIDO authentication directly into mobile banking transactions. This approach is designed to eliminate account impersonation risks and establish one of Japan’s most advanced security frameworks. The solution aims to safeguard customers against account takeover attacks and sophisticated phishing schemes by securing transactions and delivering a seamless, secure digital banking experience.

“We are proud to be chosen by SuMiTB and SCSK for this landmark project,” said Victor Limongelli, CEO at OneSpan ( OSPN ). “This selection not only underscores OneSpan’s leadership and credibility in Japan’s rapidly evolving FIDO market, but also demonstrates our ability to deliver enterprise-scale, phishing-resistant authentication that meets the highest regulatory standards. We are committed to helping financial institutions protect their customers and set new benchmarks for digital security.”

OneSpan Cloud Authentication (“OCA”) is a modern, cloud-based multi-factor authentication solution designed to help banks and businesses secure online applications and digital transactions. Built for rapid deployment and scalability, the platform enables organizations to meet strict regulatory requirements and deliver a seamless user experience across digital channels. OCA is part of OneSpan’s comprehensive authentication portfolio for digital banking security. Whether on-premises or in the cloud, software or hardware—including Digipass protocols, FIDO protocols (FIDO UAF, passkeys), and Cronto solutions for visual transaction signing—OneSpan provides its customers with maximum flexibility to meet their authentication needs.

“We are honored to support SuMiTB in deploying OneSpan’s cloud-based FIDO authentication solution for mobile banking,” said Hideho Masuda, Senior Executive Officer, SCSK Corporation. “This implementation demonstrates SCSK’s commitment to providing advanced, secure authentication solutions to the Japanese financial sector, and highlights the strength of our partnership with OneSpan.”

About SCSK Corporation

SCSK Corporation delivers comprehensive IT solutions spanning consulting, system development, verification services, IT infrastructure deployment, IT management, hardware and software distribution, and business process outsourcing (BPO). The company drives innovation through strategic partnerships with customers and society, addressing complex challenges across diverse industries and market segments through technology-enabled transformation. https://www.scsk.jp/

About OneSpan ( OSPN )

OneSpan ( OSPN ) provides secure authentication, identity, electronic 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 100 largest banks, OneSpan ( OSPN ) processes millions of digital agreements and billions of multi-factor authentication transactions in 100+ countries annually.

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Source: OneSpan Inc. ( OSPN )