Slide background

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. 

Read More ...

Snippet: Regulatory bodies around the world continue to issue security advisories related to online and mobile banking, especially when it comes to securing high-risk, high-value digital transactions.

Regulatory bodies around the world continue to issue security advisories related to online and mobile banking, especially when it comes to securing high-risk, high-value digital transactions.

Snippet: EMV has now been deployed in more than 80 countries around the world. All have seen a significant drop in card-present fraud as a result, but they have also experienced a surge in online card fraud and other card-not-present (CNP) scams.

EMV has now been deployed in more than 80 countries around the world. All have seen a significant drop in card-present fraud as a result, but they have also experienced a surge in online card fraud and other card-not-present (CNP) scams.

Snippet: In the age of smartphones, we mainly use our phones for apps – many, many apps. Making voice calls and performing other traditional phone functions come second to using the wealth of apps available. Most of us are aware by now that apps bring with them additional risk – that they can expose us to unwanted prying and data theft.

In the age of smartphones, we mainly use our phones for apps – many, many apps. Making voice calls and performing other traditional phone functions come second to using the wealth of apps available. Most of us are aware by now that apps bring with them additional risk – that they can expose us to unwanted prying and data theft.

Snippet: We have all seen the reports about Apple Pay fraud plastered over the Web. Less informed commentators seem to blame Apple, but is this problem really their fault this time?

We have all seen the reports about Apple Pay fraud plastered over the Web. Less informed commentators seem to blame Apple, but is this problem really their fault this time?

Snippet: Credit and debit card fraud is top of mind for payments industry professionals worldwide. According to a report by Mercator Advisory Group released in February 2013, the direct costs of payment card fraud for US issuers reached nearly $1.4 billion in 2012, but the total costs associated with it are estimated at more than $8 billion. Other analysts suspect that this cost is significantly underestimated because fraud losses are probably underreported.

Credit and debit card fraud is top of mind for payments industry professionals worldwide. According to a report by Mercator Advisory Group released in February 2013, the direct costs of payment card fraud for US issuers reached nearly $1.4 billion in 2012, but the total costs associated with it are estimated at more than $8 billion. Other analysts suspect that this cost is significantly underestimated because fraud losses are probably underreported.

Snippet: Here’s a problem. Surveys repeatedly indicate that a sizeable percentage of consumers doubt the security of mobile banking and payments, mindful of the wealth of personal information stored on their phones and suspicious of assurances that their data and money are adequately protected from mobile attack.

Here’s a problem. Surveys repeatedly indicate that a sizeable percentage of consumers doubt the security of mobile banking and payments, mindful of the wealth of personal information stored on their phones and suspicious of assurances that their data and money are adequately protected from mobile attack.

Snippet: A lot of people are excited about the future that biometrics promises. Massive claims are made daily about the technology, especially as it applies to mobile. It’s easy to get caught up in the excitement and see biometrics as a solution to all the problems we currently face. But will deploying fingerprint readers to mobile devices really free us all from digital fraud?

A lot of people are excited about the future that biometrics promises. Massive claims are made daily about the technology, especially as it applies to mobile. It’s easy to get caught up in the excitement and see biometrics as a solution to all the problems we currently face. But will deploying fingerprint readers to mobile devices really free us all from digital fraud?

Snippet: The world has enthusiastically embraced mobile technology. Within a few short years, mobile applications have become a staple of daily life, serving as sources of information, productivity tools or entertaining ways to pass the time. It did not take long for the financial services industry to spot mobile’s potential.

The world has enthusiastically embraced mobile technology. Within a few short years, mobile applications have become a staple of daily life, serving as sources of information, productivity tools or entertaining ways to pass the time. It did not take long for the financial services industry to spot mobile’s potential.

Snippet: On the weekend, I finally had a chance to load my three credit cards into Apple Pay. The process was slick and painless, as you’d expect from Apple: a simple snap of the credit card auto-populated the data on my phone. Only the card security code (three or four digits long) is entered by hand.

On the weekend, I finally had a chance to load my three credit cards into Apple Pay. The process was slick and painless, as you’d expect from Apple: a simple snap of the credit card auto-populated the data on my phone. Only the card security code (three or four digits long) is entered by hand.

Snippet: For decades, the financial services industry has relied on one-time passwords (OTPs) for online user authentication. While OTP technology was state-of-the-art in the 1980s, technology has evolved, and the changes in computing power, the Internet, and the advent of mobile technology has rendered it no match for today’s most common fraud schemes.

For decades, the financial services industry has relied on one-time passwords (OTPs) for online user authentication. While OTP technology was state-of-the-art in the 1980s, technology has evolved, and the changes in computing power, the Internet, and the advent of mobile technology has rendered it no match for today’s most common fraud schemes.

Entersekt Logo

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.