Trusted Transactions | Entersekt Blog

Trusted Transactions | Entersekt Blog

Entersekt

Find me on:

Recent Posts

Niel Bester on Entersekt's product vision

Posted by Entersekt

Jul 17, 2017 3:34:13 PM

In our latest video, Entersekt’s SVP Products, Niel Bester, explains why innovation at your financial institution need not be limited by the fear of fraud.

Read More

Topics: Mobile banking authentication, Biometrics

Schalk Nolte on the power of mobile

Posted by Entersekt

May 17, 2017 12:28:29 PM

Watch our new video to see Schalk Nolte, Entersekt’s CEO, share his take on the power of mobile not only in security, but also in enabling digital services.

Read More

Topics: Mobile banking authentication, Biometrics

African FinTech Awards 2016

Posted by Entersekt

Jul 19, 2016 10:30:00 AM

fintech_africa_logo_nominee.png

Entersekt is nominated for the first round of the African FinTech Awards 2016, in the “Payments & Transfers” category.

These awards recognize innovative and disruptive fintech companies that have originated in or are primarily focused on Africa. The process combines a popular vote (ending September 15) with a top-notch jury panel.

To see who the other nominees are, visit www.fintech-africa.com. And, if you like us, you might want to vote for us here.

Read More

Topics: Financial Technology, Innovation

Get FIDO Ready!

Posted by Entersekt

Jul 9, 2015 9:30:00 AM

FidoThe password paradigm is widely acknowledged to be obsolete, but to usher in something new requires an industry-wide effort. To help manage this issue, some of information technology’s biggest players formed the FIDO (Fast IDentity Online) Alliance, which is now revolutionizing online authentication with its standards-based open protocols aimed at reducing our reliance on vulnerable password-based security systems.

Entersekt joined FIDO early in 2013 and has been an active participant in formulating the specifications released to the public over the last year. Any institution, software developer, or online service provider can build support for FIDO into their existing products and services to make online authentication simpler and stronger for everyone.

Read More

Topics: FIDO Alliance

Seven steps to stronger authentication

Posted by Entersekt

Jun 4, 2015 9:30:00 AM

Seven_steps_strong_authenticationIn our last blog entry, we looked at examples of regulatory guidance related to securing online and mobile banking through strong authentication. The countries we covered vary greatly, as do their banking sectors, but some prescriptions for strong authentication came up again and again.

Here are seven key characteristics of any truly effective strong authentication solution for online and mobile banking, as recognized by a wide range of regulatory bodies globally.

Read More

Global guidance on strong authentication

Posted by Entersekt

May 7, 2015 9:30:00 AM

Strong_authenticationRegulatory bodies around the world continue to issue security advisories related to online and mobile banking, especially when it comes to securing high-risk, high-value digital transactions. In a fast-changing environment, establishing and maintaining rigorous standards helps build consumer confidence and drives mass market acceptance. This is particularly true where user safety is a factor: for governments, engineering a more secure digital environment for their citizens is a vital concern.

Below, we summarize recent guidance from a cross section of countries in order to discern what regulators typically require of an effective strong authentication regime.

Read More

Lessons learned from early EMV deployments

Posted by Entersekt

Apr 16, 2015 9:30:00 AM

Payment_networksEMV has now been deployed in more than 80 countries around the world. All have seen a significant drop in card-present fraud as a result, but they have also experienced a surge in online card fraud and other card-not-present (CNP) scams.

The payments industry has learned a lot from the first global implementations of EMV technology. The most important one being that EMV is not yet able to protect consumers in the online space. Early adopters of EMV have also found that security measures aimed at heading off rising CNP fraud can disrupt the online purchasing process to the point that cardholders abandon their virtual shopping carts in droves.

Payment card leaders recognized that CNP fraud was likely to rise significantly as e-commerce took off. They sought to address the threat with 3-D Secure. This security protocol was designed to introduce transaction authorization in the online space by means of an online user authentication process, much like a signature or entering a PIN number is meant to do in the real world.

Read More

Topics: Card-not-present authentication, EMV

Will EMV help combat growing card fraud in the US? Yes and no.

Posted by Entersekt

Mar 5, 2015 10:30:00 AM

Credit and debit card fraud is top of mind for payments industry professionals worldwide. According to a report by Mercator Advisory Group released in February 2013, the direct costs of payment card fraud for US issuers reached nearly $1.4 billion in 2012, but the total costs associated with it are estimated at more than $8 billion. Other analysts suspect that this cost is significantly underestimated because fraud losses are probably underreported. When all associated costs of fraud – such as data-breach forensics, lawsuits, undetected fraud and misclassified issuer losses – are taken into consideration, losses may actually total more than $15 billion in the United States alone.

Read More

Topics: EMV

Solving mobile banking security and user experience issues

Posted by Entersekt

Feb 19, 2015 9:30:00 AM

MobileHere’s a problem. Surveys repeatedly indicate that a sizeable percentage of consumers doubt the security of mobile banking and payments, mindful of the wealth of personal information stored on their phones and suspicious of assurances that their data and money are adequately protected from mobile attack. 

The Federal Reserve Board’s Consumers and Mobile Financial Services 2014 report says that of U.S. consumers who do not use mobile banking – a cohort still comfortably in the majority – 69 percent cited security as the primary reason for not doing so. Of those who do not make payments using their phones, 63 percent gave “fears over the safety of the channel” as the reason. Even early adopters of mobile banking often limit their activities to checking their account balances or recent transactions, shying away from money transfers or payments.

Read More

Topics: Mobile banking authentication

Six threats to mobile banking

Posted by Entersekt

Jan 8, 2015 9:30:00 AM

The world has enthusiastically embraced mobile technology. Within a few short years, mobile applications have become a staple of daily life, serving as sources of information, productivity tools or entertaining ways to pass the time. It did not take long for the financial services industry to spot mobile’s potential. They moved quickly to roll out mobile banking apps, and retail banking customers were quick to take advantage of the time-saving convenience and accessibility the apps offered.

Doubts over mobile security have, however, kept a sizeable percentage of consumers from adopting mobile banking. Security concerns have also caused banks themselves to hesitate offering a full range of financial services through the mobile channel. But what are the particular vulnerabilities affecting this channel and how serious are they?

Here are six significant threats facing the mobile banking channel today.

1. Poor app design and configuration

Read More

Topics: Mobile banking authentication

About Trusted Transactions

Trusted Transactions is Entersekt's blog devoted to keeping our customers, prospects and friends updated with industry news, security threats and technology advances in consumer authentication. We can protect against online banking fraud and account takeovers. Trusted Transactions brings you industry data and insights to help safeguard your online and mobile banking and payments transactions. 

Subscribe to Entersekt's Blog

 

Download white paper: The importance of transaction  signing to banks  

 

Follow Entersekt