Snippet: During 2016, many of Entersekt’s social media posts focused on our current global expansion, particularly into Europe and the United States. Among these exciting developments was FirstBank’s choice of our Transakt product to secure their mobile app and enable Touch ID authentication. We were also proud to announce our partnerships with CREALOGIX, Netcetera, Blue Bay, Backbase and IST Networks. Meanwhile, we have also been doing well on the home front.

During 2016, many of Entersekt’s social media posts focused on our current global expansion, particularly into Europe and the United States. Among these exciting developments was FirstBank’s choice of our Transakt product to secure their mobile app and enable Touch ID authentication. We were also proud to announce our partnerships with CREALOGIXNetceteraBlue BayBackbase and IST Networks. Meanwhile, we have also been doing well on the home front.

In an article in their Q4 issue, reviewers from Personal Finance magazine were impressed by Entersekt’s security for Capitec and Nedbank’s mobile banking apps and Absa’s SureCheck feature. One reviewer wrote, “What I like about Entersekt is that, instead of sending you SMSes via a cellular network provider, it sends you encrypted messages to your phone”. Other safety measures the reviewers appreciated included the Nedbank app’s “disarmingly simple interface” and the fact that in Absa SureCheck, you “authenticate each transaction from your mobile device directly”. In an interview with IT-Online, Capitec’s head of communications Charl Nel also described the bank’s Entersekt-enabled app as “extremely easy to use” and “almost impossible to be defrauded”.

Earlier this year, users had even called on their own banks to start using Entersekt’s technology, since it is perceived to be the best protection against account takeovers. March’s news frenzy over SIM-swap fraud led to a burst of public confidence in the security of our technology:

  • @TheHumbleColin:@Nedbank this nedbank app suite,is it secure to use? Can I trust it with my identity number? @Nedbank@TheHumbleColin That’s correct, it has a security certificate secured by Entersekt :)
  • ‏@gvrooyen: Not using the technology is becoming a brand risk for banks :)
  • @CapeTalk: SA company @Entersekt on forefront of online banking security“Entersekt provides a high level of security to the bank’s clients.” – Charl Nel, Capitec’s Head of Communications (Personal Finance, 5 March 2016)

Long-established UK private bank Coutts also expressed their trust during an interview with Citywire shortly after the go-live of their authentication tool CouttsID at the end of September. Joe Norburn, Managing Director: Digital and Business Development at Coutts, explained that “[their] new service is the first of its kind in the UK but is supported by Entersekt, whose technology has been proven in South Africa and other countries.”

It is often suggested in market research that digital banking users are not as concerned with the security of their banking channels as with their usability and convenience. Yet our experience in South Africa, where we have the majority market share, suggests something

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Jolette Roodt

WRITER/ANALYST

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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.