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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: This concept – an event or sequence of events likely to occur at the birth of artificial intelligence – has been widely debated ever since. Its consequences set the imagination racing. Our approach to almost everything will, after all, have to be discarded to make way for an entirely new paradigm.

This concept – an event or sequence of events likely to occur at the birth of artificial intelligence – has been widely debated ever since. Its consequences set the imagination racing. Our approach to almost everything will, after all, have to be discarded to make way for an entirely new paradigm.

Snippet: The year has not started well for that popular authentication method, one-time passwords (OTPs) sent via SMS. Still widely used during logins and transactions as part of a two-factor authentication (2FA) process, SMS OTP has long been vulnerable to cyber criminals.

The year has not started well for that popular authentication method, one-time passwords (OTPs) sent via SMS. Still widely used during logins and transactions as part of a two-factor authentication (2FA) process, SMS OTP has long been vulnerable to cyber criminals.

Snippet: Traditional financial institutions have been hit hard by digital disruption, with alternative payment methods such as PayPal and Apple Pay presenting strong competition. According to a 2015 report by the Temenos Group titled Shifting Sands: Banking in the Digital Era, the threat that banks are most concerned about comes from non-traditional players, especially technology companies such as Google.

Traditional financial institutions have been hit hard by digital disruption, with alternative payment methods such as PayPal and Apple Pay presenting strong competition. According to a 2015 report by the Temenos Group titled Shifting Sands: Banking in the Digital Era, the threat that banks are most concerned about comes from non-traditional players, especially technology companies such as Google.

Snippet: At the start of a new year, many of us take the opportunity to reflect on the past 12 months and to look forward to the year that lies ahead.

At the start of a new year, many of us take the opportunity to reflect on the past 12 months and to look forward to the year that lies ahead.

Snippet: At Entersekt, we get to know our customers pretty well, as you’ll imagine. Some take our product and integrate it within two months, then leave it unchanged. No mess, no fuss. My favorite customers, however, are those that continue to extract value from what we’ve provided them.

At Entersekt, we get to know our customers pretty well, as you’ll imagine. Some take our product and integrate it within two months, then leave it unchanged. No mess, no fuss. My favorite customers, however, are those that continue to extract value from what we’ve provided them.

Snippet: Like Entersekt, banks are purveyors of trust. A lack of trust is a serious opportunity cost that can threaten an institution’s future by, among other things, retarding innovation in online and mobile banking functionality and usability. How does a bank protect and nurture the trust relationship?

Like Entersekt, banks are purveyors of trust. A lack of trust is a serious opportunity cost that can threaten an institution’s future by, among other things, retarding innovation in online and mobile banking functionality and usability. How does a bank protect and nurture the trust relationship?

Snippet: A mobile transaction authentication number (mTAN) is a one-time password delivered to users of online systems using the SMS format. Millions of digital banking customers use them today to verify their online transactions with their bank.

A mobile transaction authentication number (mTAN) is a one-time password delivered to users of online systems using the SMS format. Millions of digital banking customers use them today to verify their online transactions with their bank.

Snippet: Necessity is the mother of invention. For a fresh-faced bunch of geeks taking on established heavyweights, Entersekt has been very careful to lodge patent applications to protect its intellectual property. Our approach to digital user and transaction authentication is, after all, unlike any other on the market.

Necessity is the mother of invention. For a fresh-faced bunch of geeks taking on established heavyweights, Entersekt has been very careful to lodge patent applications to protect its intellectual property. Our approach to digital user and transaction authentication is, after all, unlike any other on the market.

Snippet: In its Global Innovation Index 2015 report, INSEAD makes the point that, “While gaps remain in overall innovation performance between rich and poor countries, the technology gap is narrowing.

In its Global Innovation Index 2015 report, INSEAD makes the point that, “While gaps remain in overall innovation performance between rich and poor countries, the technology gap is narrowing.

Snippet: Two-factor authentication is, by now, a familiar means of securing online systems, especially in the financial services industry. Apart from static credentials (username and password), a user is usually also asked to authorize the transaction, or even a login event, by using another method.

Two-factor authentication is, by now, a familiar means of securing online systems, especially in the financial services industry. Apart from static credentials (username and password), a user is usually also asked to authorize the transaction, or even a login event, by using another method.

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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.