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The Entersekt blog.

Industry news, security threats, and technology advances in consumer authentication
Passwordless authentication: The future is here

Passwordless authentication: The future is here


Passwords suck! There, I said it. We've all heard it said many times before, but it’s worth repeating. The concept of gate-keeping access to digital services with a username and password may have been appropriate, and even good practice, in the early days of computing when a person might only have one or two logins to maintain. However, in today’s world where people have hundreds of accounts, they tend to re-use one password for multiple accounts or outsource the job to a password manager service. And even if you do manage to create a complex and unique password for each account, and remember it at the time of login, there is still the problem of data breaches, which are becoming all too common. 

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Snippet: With the disruptive arrival of financial technology tools and platforms, banks worldwide have been besieged with gloomy forecasts. Advisory firms and analysts are feverishly crunching the numbers and warning of a tech-fuelled banking revolution – with the established players on the back foot.

With the disruptive arrival of financial technology tools and platforms, banks worldwide have been besieged with gloomy forecasts. Advisory firms and analysts are feverishly crunching the numbers and warning of a tech-fuelled banking revolution – with the established players on the back foot.

Snippet: Australia and New Zealand seem to have become prime targets for cybercriminals over the past few months. As a target, Australia is under the top 10 in the world for phishing, malware, and fraud. According to Symantec strategist Mark Shaw, 108 cybercrime attacks occur in New Zealand every day; during 2015, the country’s global rank rose in five out of six threat categories: spam, phishing hosts, bots, network attacks, and web attacks. It also had the eighth-highest proportion of global phishing traffic.

Australia and New Zealand seem to have become prime targets for cybercriminals over the past few months. As a target, Australia is under the top 10 in the world for phishing, malware, and fraud. According to Symantec strategist Mark Shaw, 108 cybercrime attacks occur in New Zealand every day; during 2015, the country’s global rank rose in five out of six threat categories: spam, phishing hosts, bots, network attacks, and web attacks. It also had the eighth-highest proportion of global phishing traffic.

Snippet: As mobile Internet connectivity grows, African youth are fast embracing the opportunity to connect, converse, and transact on the web. According to the GSMA (Mobile Economy Report 2015), mobile Internet penetration in Sub-Saharan Africa is expected to reach 38 percent by 2020.

As mobile Internet connectivity grows, African youth are fast embracing the opportunity to connect, converse, and transact on the web. According to the GSMA (Mobile Economy Report 2015), mobile Internet penetration in Sub-Saharan Africa is expected to reach 38 percent by 2020.

Snippet: A recent report by BI Intelligence found that, unsurprisingly, card-not-present fraud is rising in the US, now costing merchants 1.47 percent of their annual revenue (up from 0.51 percent in 2013).

A recent report by BI Intelligence found that, unsurprisingly, card-not-present fraud is rising in the US, now costing merchants 1.47 percent of their annual revenue (up from 0.51 percent in 2013).

Snippet: Global Finance recently published their 2015 rankings for the richest countries in the world. Not surprisingly, five out of the wealthiest twelve are located in the Middle East: Bahrain (12), Saudi Arabia (11), the United Arab Emirates (7), Kuwait (5), and Qatar (1).

Global Finance recently published their 2015 rankings for the richest countries in the world. Not surprisingly, five out of the wealthiest twelve are located in the Middle East: Bahrain (12), Saudi Arabia (11), the United Arab Emirates (7), Kuwait (5), and Qatar (1).

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.

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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.