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The Entersekt blog.

Industry news, security threats, and technology advances in consumer authentication
The (lock and) key to strong security

The (lock and) key to strong security


Let me begin with a short story, a true story. A good friend of mine’s house was recently broken into. He was asleep in bed when this event took place, and he heard nothing. In fact, when he got up in the morning, he didn’t even notice at first that the event had taken place, such was the subtlety of the break-in. The thief had managed to break a door lock, opening the door without making much sound at all. The technique was to snap off the front of the lock and use a screwdriver to open the door: very quiet and very quick. 

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Snippet: Despite the rise in popularity of digital customer engagement tools, research has indicated that call centers are alive and well. While Forrester suggests that they’re turned to primarily for escalation purposes, a special report published as late as last year indicated that over 70% of respondents – including young adults – preferred phone calls as their go-to channel for customer service. And it’s easy to see why: after face-to-face engagements, voice interactions are the next best way to get one-on-one attention.

Despite the rise in popularity of digital customer engagement tools, research has indicated that call centers are alive and well. While Forrester suggests that they’re turned to primarily for escalation purposes, a special report published as late as last year indicated that over 70% of respondents – including young adults – preferred phone calls as their go-to channel for customer service. And it’s easy to see why: after face-to-face engagements, voice interactions are the next best way to get one-on-one attention.

Snippet: The digitalization of banking has reached an inflection point, with Microsoft’s CEO Satya Nadella saying he’s “seen two years’ worth of digital transformation in two months.”

The digitalization of banking has reached an inflection point, with Microsoft’s CEO Satya Nadella saying he’s “seen two years’ worth of digital transformation in two months.”

Snippet: Years of large-scale, and much-publicized, data theft has us all feeling there’s a target on our back. With the number of online services increasing rapidly, we’re sharing and using our personal details more than ever before. A side effect of this rapid growth in personal information sharing is that we know our personal details are out there in the digital wild, probably being shared among hackers, and sold by crime syndicates.

Years of large-scale, and much-publicized, data theft has us all feeling there’s a target on our back. With the number of online services increasing rapidly, we’re sharing and using our personal details more than ever before. A side effect of this rapid growth in personal information sharing is that we know our personal details are out there in the digital wild, probably being shared among hackers, and sold by crime syndicates.

Snippet: “Ready or not, here I come!” If there’s one thing we’ve learnt from the explosive growth in digital banking is how quick fraudsters are to spot an opportunity and exploit it. And opportunity, it seems, is knocking loudly.

“Ready or not, here I come!” If there’s one thing we’ve learnt from the explosive growth in digital banking is how quick fraudsters are to spot an opportunity and exploit it. And opportunity, it seems, is knocking loudly.

Snippet: From cash to credit cards to digital payments, the speed with which we can move money from account to account has exploded. Now, with the rollout of real-time payments or faster payments, it’s almost instantaneous. For most of us, making payments is a large part of the business we do through banks, so any innovation that saves us time is welcome, but this need for speed exposing us to greater risk of fraud?

From cash to credit cards to digital payments, the speed with which we can move money from account to account has exploded. Now, with the rollout of real-time payments or faster payments, it’s almost instantaneous. For most of us, making payments is a large part of the business we do through banks, so any innovation that saves us time is welcome, but this need for speed exposing us to greater risk of fraud?

Snippet: When Simon’s wife started receiving text messages from the UK government recently, they were both skeptical. After all, they – like many of us – had repeatedly had it drummed into them that authorities would never contact the public with certain information or in a certain way. Yet, there they were: seemingly important messages conveyed through a channel notorious for scamming the masses.

When Simon’s wife started receiving text messages from the UK government recently, they were both skeptical. After all, they – like many of us – had repeatedly had it drummed into them that authorities would never contact the public with certain information or in a certain way. Yet, there they were: seemingly important messages conveyed through a channel notorious for scamming the masses.

Snippet: When asked his advice on how to succeed, a wise gentleman once said: “The way to get started is to quit talking and begin doing”. That gentleman was Walt Disney and, well, we all know the outcome of his timeless endeavors…

When asked his advice on how to succeed, a wise gentleman once said: “The way to get started is to quit talking and begin doing”. That gentleman was Walt Disney and, well, we all know the outcome of his timeless endeavors…

Snippet: Much like water flowing downhill, fraudsters take the path of least resistance. The advent of the EMV chip made card-present fraud more difficult, reducing it to an all-time low. And while this was great news for brick-and-mortar retailers, the fraudsters’ attention simply moved to the digital space, where banks must now contend with fraud in peer-to-peer payments, credit and debit cards, account takeover, and fraudulent account opening.

Much like water flowing downhill, fraudsters take the path of least resistance. The advent of the EMV chip made card-present fraud more difficult, reducing it to an all-time low. And while this was great news for brick-and-mortar retailers, the fraudsters’ attention simply moved to the digital space, where banks must now contend with fraud in peer-to-peer payments, credit and debit cards, account takeover, and fraudulent account opening.

Snippet: Since the late nineteenth century, law-enforcement agencies around the world have used fingerprint identification methods to positively identify the suspects and victims of crime. Since its inception, fingerprinting has become a highly sophisticated forensic science – one on which technology has had an immense impact.

Since the late nineteenth century, law-enforcement agencies around the world have used fingerprint identification methods to positively identify the suspects and victims of crime. Since its inception, fingerprinting has become a highly sophisticated forensic science – one on which technology has had an immense impact.

Snippet: At a time where we are arguably relying more on digital interactions than ever before, many people face a dilemma when it comes to their finances. On the one hand, they need digital channels to manage their accounts and conduct transactional activities to a greater extent than before. On the other, significant numbers fear that digital communications expose them to greater risk.

At a time where we are arguably relying more on digital interactions than ever before, many people face a dilemma when it comes to their finances. On the one hand, they need digital channels to manage their accounts and conduct transactional activities to a greater extent than before. On the other, significant numbers fear that digital communications expose them to greater risk.

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Entersekt is an innovator of customer-centric fintech solutions. Financial services providers and other enterprises rely on our patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. With us, they can concentrate on their innovation roadmap, while delivering intuitive, low-friction digital experiences to their customers.