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The Entersekt blog.

Industry news, security threats, and technology advances in consumer authentication
The (lock and) key to strong security

The (lock and) key to strong security


Let me begin with a short story, a true story. A good friend of mine’s house was recently broken into. He was asleep in bed when this event took place, and he heard nothing. In fact, when he got up in the morning, he didn’t even notice at first that the event had taken place, such was the subtlety of the break-in. The thief had managed to break a door lock, opening the door without making much sound at all. The technique was to snap off the front of the lock and use a screwdriver to open the door: very quiet and very quick. 

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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.

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.

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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.