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The Entersekt blog.

Industry news, security threats, and technology advances in consumer authentication
Do faster payments have to mean faster fraud?

Do faster payments have to mean faster 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 is this need for speed exposing us to greater risk of fraud?

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Snippet: In the last few years, uptake of personal payment applications has been shaking up the world of fintech. US-based digital wallet Venmo, one of the fastest-growing apps in this realm, is changing the way we think about person-to-person (P2P) payments.

In the last few years, uptake of personal payment applications has been shaking up the world of fintech. US-based digital wallet Venmo, one of the fastest-growing apps in this realm, is changing the way we think about person-to-person (P2P) payments.

Snippet: Just as we thought we may have reached an understanding of millennials, the focus has shifted to Generation Z.

Just as we thought we may have reached an understanding of millennials, the focus has shifted to Generation Z.

Snippet: Are reports of breaches at health providers sending your blood pressure skyward? Straightforward, effective authentication is just what the doctor ordered!

Are reports of breaches at health providers sending your blood pressure skyward? Straightforward, effective authentication is just what the doctor ordered!

Snippet: Time is running out for companies to comply with the European Union’s Revised Payment Services Directive (PSD2), which takes effect in January 2018, and General Data Protection Regulations (GDPR), which kick in in May 2018.

Time is running out for companies to comply with the European Union’s Revised Payment Services Directive (PSD2), which takes effect in January 2018, and General Data Protection Regulations (GDPR), which kick in in May 2018.

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 CREALOGIX, Netcetera, Blue Bay, Backbase and IST Networks. Meanwhile, we have also been doing well on the home front.

Snippet: A significant percentage of US consumers flatly say that they are not interested in taking up mobile banking. Other channels do the job just fine, they say. That’s a problem.

A significant percentage of US consumers flatly say that they are not interested in taking up mobile banking. Other channels do the job just fine, they say. That’s a problem.

Snippet: The security of financial and personal information is a necessary focal point for regulatory bodies worldwide. Fraud and data theft are concerns across all industries, but their threat is of particular importance to the banking and payments sectors.

The security of financial and personal information is a necessary focal point for regulatory bodies worldwide. Fraud and data theft are concerns across all industries, but their threat is of particular importance to the banking and payments sectors.

Snippet: The piggy bank has been a symbol of saving for years. The term itself is actually much older than the farmyard shape we are familiar with today, deriving from “pygg” a kind of clay used to make Europe’s first money jars in the Middle Ages.

The piggy bank has been a symbol of saving for years. The term itself is actually much older than the farmyard shape we are familiar with today, deriving from “pygg” a kind of clay used to make Europe’s first money jars in the Middle Ages.

Snippet: 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.

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.

Snippet: 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.

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.

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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.