The Entersekt Blog

Industry news, security threats, and technology advances in consumer authentication.

Russian hackers making borscht of banks worldwide
17-11-2016|Jolette Roodt

Russian hackers making borscht of banks worldwide

As if the nearly $44 million that Russian cybercriminals stole from banks in their own country between June 2015 and June 2016 weren’t enough, these fraudsters seem to be moving on to greener pastures abroad. Stealing directly from banks as well as from individual online accounts, Russians have started targeting the rest of Europe – and the rest of the world.
No branch required: The rise of digital-only banks
03-11-2016|Jolette Roodt

No branch required: The rise of digital-only banks

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.
Why fintech has created a golden moment of opportunity for savvy banks
20-10-2016|Schalk Nolte

Why fintech has created a golden moment of opportunity for savvy banks

With the disruptive arrival of financial technology tools and platforms, banks worldwide have been besieged with gloomy forecasts. Advisory firms and analysts are feverishly crunching the numbers and warning of a tech-fuelled banking revolution – with the established players on the back foot. It may be true that banking is in the process of changing forever, but digital transformation has actually placed the savvier incumbents in an enviable position, one where they can leverage an asset they alone hold.
Fraud thriving down under
29-09-2016|Jolette Roodt

Fraud thriving down under

Australia and New Zealand seem to have become prime targets for cybercriminals over the past few months. As a target, Australia is under the top 10 in the world for phishing, malware, and fraud. According to Symantec strategist Mark Shaw, 108 cybercrime attacks occur in New Zealand every day; during 2015, the country’s global rank rose in five out of six threat categories: spam, phishing hosts, bots, network attacks, and web attacks. It also had the eighth-highest proportion of global phishing traffic. More than 856,000 New Zealanders are estimated to have been affected by cybercrime last year, at a cost of 257 million New Zealand dollars (186 million US dollars) to the economy.
Five tips for designing African digital banking experiences that score with young and old
15-09-2016|Dewald Nolte

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

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
Fraud-not-present: How false declines cost US merchants more than prevention
08-09-2016|Jolette Roodt

Fraud-not-present: How false declines cost US merchants more than prevention

A recent report by BI Intelligence found that, unsurprisingly, card-not-present fraud is rising in the US, now costing merchants 1.47 percent of their annual revenue (up from 0.51 percent in 2013).
How to secure digital banking in the world's wealthiest region
23-08-2016|Jolette Roodt

How to secure digital banking in the world's wealthiest region

Global Finance recently published their 2015 rankings for the richest countries in the world. Not surprisingly, five out of the wealthiest twelve are located in the Middle East: Bahrain (12), Saudi Arabia (11), the United Arab Emirates (7), Kuwait (5), and Qatar (1).
Defunct SMS OTP still reigns at Australian banks
16-08-2016|Jolette Roodt

Defunct SMS OTP still reigns at Australian banks

An investigation into online banking security measures in Australia revealed that SMS OTP is still very popular there, despite increasing global awareness of this authentication method’s vulnerabilities.
NIST puts the breaks on a slow-mo train wreck
04-08-2016|Gerhard Oosthuizen

NIST puts the breaks on a slow-mo train wreck

I felt a flicker of recognition reading Dave Birch’s reaction this week to news that the US Department of Commerce’s National Institute of Standards and Technology (NIST) is “deprecating” the use of SMS-based authentication.
African Fintech Awards 2016
19-07-2016|Entersekt Editor

African Fintech Awards 2016

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

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Entersekt is an international software development company based just outside of Cape Town, South Africa.

We are leaders in authentication, app security, and payments enablement technology, offering a highly scalable solution set with a track record of success across multiple continents.