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The Entersekt blog.

Industry news, security threats, and technology advances in consumer authentication
Why US banking clients don’t use banking apps

Why US banking clients don’t use banking apps


Adoption of mobile banking apps inches up ever slower in the United States. What can be done to encourage use?

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Snippet: 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.

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.

Snippet: 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.

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.

Snippet: Entersekt’s mission is to support financial institutions in their fight against digital fraud, so we watch the changing regulatory environment very closely.

Entersekt’s mission is to support financial institutions in their fight against digital fraud, so we watch the changing regulatory environment very closely.

Snippet: The move towards two-factor authentication (2FA) is gaining momentum fast, with companies ranging from banks to social media platforms now offering the method as an extra security measure for protecting users’ personal information.

The move towards two-factor authentication (2FA) is gaining momentum fast, with companies ranging from banks to social media platforms now offering the method as an extra security measure for protecting users’ personal information.

Snippet: Sweden has often been quick to use new technologies to power cultural and social development. Spotify, founded in Sweden in 2006, embraced streaming technology as a business model and is considered to be one of the world leaders in music distribution today.

Sweden has often been quick to use new technologies to power cultural and social development. Spotify, founded in Sweden in 2006, embraced streaming technology as a business model and is considered to be one of the world leaders in music distribution today.

Snippet: Two developments in ATM technology have made waves in the first few months of this year. Let’s take a look at what banks and hardware vendors have in store for us.

Two developments in ATM technology have made waves in the first few months of this year. Let’s take a look at what banks and hardware vendors have in store for us.

Snippet: Direct debits are both an efficient and potentially frustrating means of payment for consumers, with high rates of abuse in many parts of the world. In South Africa, where this kind of payment is called a “debit order”, almost a million disputes are lodged every month.

Direct debits are both an efficient and potentially frustrating means of payment for consumers, with high rates of abuse in many parts of the world. In South Africa, where this kind of payment is called a “debit order”, almost a million disputes are lodged every month.

Snippet: Since the beginning of April, banks in the US and Canada have been plagued by a sophisticated new strain of malicious software called GozNym. The name is an amalgamation of Gozi, a well-known and feared banking trojan, and Nymaim, a dropper (which downloads and installs malware automatically) that also functions as ransomware.

Since the beginning of April, banks in the US and Canada have been plagued by a sophisticated new strain of malicious software called GozNym. The name is an amalgamation of Gozi, a well-known and feared banking trojan, and Nymaim, a dropper (which downloads and installs malware automatically) that also functions as ransomware.

Snippet: Many African countries are undergoing what is called “financial deepening” – a process of increasing the banked population, improving market infrastructure, widening funding access, and diversifying investment options. According to Bernhard Kotanko and Jason Ekberg of the Nikkei Asian Review, efficient and deep financial markets are a prerequisite for macroeconomic growth and prosperity.

Many African countries are undergoing what is called “financial deepening” – a process of increasing the banked population, improving market infrastructure, widening funding access, and diversifying investment options. According to Bernhard Kotanko and Jason Ekberg of the Nikkei Asian Review, efficient and deep financial markets are a prerequisite for macroeconomic growth and prosperity.

Snippet: Looking ahead is something that every entrepreneur understands the importance of – in theory. In practice, however, it’s easy to get caught up in the development of a product or the running of a business and lose perspective. Staying abreast of industry trends gives you the edge in identifying indicators of change and anticipating what might be around the corner.

Looking ahead is something that every entrepreneur understands the importance of – in theory. In practice, however, it’s easy to get caught up in the development of a product or the running of a business and lose perspective. Staying abreast of industry trends gives you the edge in identifying indicators of change and anticipating what might be around the corner.

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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.