Trusted Transactions | Entersekt Blog

Trusted Transactions | Entersekt Blog

Five reasons to take a second look at digital authentication

Posted by Claudius van der Meulen, VP business development / director Europe, Entersekt

Jun 22, 2017 9:00:00 AM

Change is difficult. Why change the status quo if it works and everyone seems comfortable with it? This applies to all aspects of life, and banking security is no exception. However, change is healthy and arguably necessary as the digital world evolves around us. Here are five reasons why you should consider taking a fresh look at your organization’s authentication processes.

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Topics: Mobile banking authentication, Regulatory guidance, User experience

Can technology save private banks?

Posted by Bronwyn Kausch,Writer

Jun 6, 2017 10:00:00 AM

Private banks are facing growing internal and external pressure. With so-called challenger banks pushing from the outside and legacy core systems threatening to burst their seams, these institutions are being forced to reassess their offerings and strategies. Technology may be able to provide some relief in this regard, but like retail banks, private banks will need to tread carefully when developing new products if they hope to hold onto a mercurial customer base.

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Topics: User experience

Don’t confuse biometrics with strong authentication

Posted by Frans Labuschagne, Country Manager UK & Ireland

May 23, 2017 10:00:00 AM

As our world becomes more digitalized, the information we want to keep private is increasingly at risk – and yet no-one wants that information protected by cumbersome security measures which do not fit in with our pace of living. As such, the stage seems to be set for the large-scale adoption of super-convenient biometric technology, especially on the mobile. Different forms of biometric security have already begun working their way into the banking and payments industries; among these are face, fingerprint, iris, palm, vein and voice.

 

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Topics: Mobile banking authentication, Biometrics, User experience

What’s behind the brisk growth of risk-based authentication?

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Apr 25, 2017 10:00:00 AM

The move to chip cards in the United States has been touted as the trigger for the movement of fraud from card-present to card-not-present channels. The country’s dominant approach to combating this type of fraud is risk-based authentication. Is this because it has proven to be successful in preventing fraud, or is risk-based authentication’s attractiveness based on other considerations?

 

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Topics: Card-not-present authentication, User experience, Card-not-present fraud, 3D Secure

P2P payment apps are taking over the world

Posted by Clara Chennells, Copywriter

Mar 28, 2017 8:00:00 AM

In the last few years, uptake of personal payment applications has been shaking up the world of fintech. US-based digital wallet Venmo, one of the fastest-growing apps in this realm, is changing the way we think about person-to-person (P2P) payments. Venmo is used mainly to make small payments between people who know each other, and it appears to be highly effective in eliminating small – albeit pesky – lingering debt between friends, family members and others who struggle to follow through on IOUs. On the face of it, Venmo seems like nothing more than a variation of PayPal (which, incidentally, owns Venmo). So what sets Venmo apart, and why are millennials flocking to it with such enthusiasm?

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Topics: Card-not-present authentication, User experience

Move along, millennials: Gen Z is coming

Posted by Bronwyn Kausch,Writer

Mar 14, 2017 10:00:00 AM

Just as we thought we may have reached an understanding of millennials, the focus has shifted to Generation Z.

This post-millennial generation, also referred to as the iGeneration and NetGen, are largely the children of Generation X, although some may be the early offspring of millennials. Whatever their name, the group born after 1995 not only contribute around $44 billion to the US economy annually, but will also make up a full third of the country’s population in just three years’ time.

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Topics: User experience

Make ease of use your trump card

Posted by Schalk Nolte, Chief Executive Officer, Entersekt

Jan 10, 2017 11:00:00 AM

A significant percentage of US consumers flatly say that they are not interested in taking up mobile banking. Other channels do the job just fine, they say. That’s a problem.

The US Federal Reserve Board says that only 38 percent of US account holders regularly bank using their mobile devices. Of account holders with smartphone users, that figure is higher, at 53 percent, but it has climbed only one percentage point annually for the last four years. Adoption has stalled half way to saturation.

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Topics: User experience

No branch required: the rise of digital-only banks

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Nov 3, 2016 10:00:00 AM

Banking is increasingly moving away from brick-and-mortar branches and into the digital domain. Some banks have opted out of having physical branches at all and operate as so-called digital-only banks. Who are these banks, and how are they faring compared to traditional financial institutions? Let’s take a closer look.

 

 

 

 

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Topics: One-time passwords, SMS OTP/ mTAN, User experience

Five tips for designing African digital banking experiences that score with young and old

Posted by Dewald Nolte, SVP partnerships and alliances, Entersekt

Sep 15, 2016 10:30:00 AM

As mobile Internet connectivity grows, African youth are fast embracing the opportunity to connect, converse, and transact on the web. According to the GSMA (Mobile Economy Report 2015), mobile Internet penetration in Sub-Saharan Africa is expected to reach 38 percent by 2020. This has largely been driven by lower costs of smartphones, which the GSMA says have decreased by 20 percent since 2008. A rapidly growing local app market and easy access to games and social media have captivated the youth market.

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Topics: User experience

Entersekt helps German banks go beyond ticking BaFin’s boxes

Posted by Jolette Roodt, Writer/Analyst, Entersekt

Jul 14, 2016 11:00:00 AM

Entersekt’s mission is to support financial institutions in their fight against digital fraud, so we watch the changing regulatory environment very closely. Our solutions are designed to comply with digital banking security guidelines across the globe, including those set out by the European Central Bank (ECB), the Federal Financial Institutions Examination Council (FFIEC), and the Monetary Authority of Singapore (MAS). In Germany, the relevant regulatory authority is the Bundesanstalt für Finanzdienstleistungsaufsicht, or BaFin.

 

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Topics: Regulatory guidance, One-time passwords, SMS OTP/ mTAN, User experience

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. 

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