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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: The way we bank has changed completely. Advances in technology, and our increasing familiarity with it, mean that we now expect personalized services whenever, wherever, and however we choose to interact.

The way we bank has changed completely. Advances in technology, and our increasing familiarity with it, mean that we now expect personalized services whenever, wherever, and however we choose to interact.

Snippet: I imagine most of us would love to be a high-net-worth (HNW) individual, which means we’d have a cool $1 million or more in liquid financial assets floating around. Just imagine what that lifestyle would look like – a fancy mansion would be home, you could jet off to Paris for a spot of lunch, stay at the most exclusive hotels, and the horsepower in your garage would be the envy of any stable.

I imagine most of us would love to be a high-net-worth (HNW) individual, which means we’d have a cool $1 million or more in liquid financial assets floating around. Just imagine what that lifestyle would look like – a fancy mansion would be home, you could jet off to Paris for a spot of lunch, stay at the most exclusive hotels, and the horsepower in your garage would be the envy of any stable.

Snippet: Fierce competition in banking shows no signs of abating, but while cost-cutting and consolidation have characterized the industry for decades, a lot has changed in recent years, especially with the disruptive entrance of the social, retail, and technology giants. It’s not so much what you offer anymore; the game changer is how you make your offering available.

Fierce competition in banking shows no signs of abating, but while cost-cutting and consolidation have characterized the industry for decades, a lot has changed in recent years, especially with the disruptive entrance of the social, retail, and technology giants. It’s not so much what you offer anymore; the game changer is how you make your offering available.

Snippet: A superior customer experience that reinforces customer relationships, boosts revenue, and saves costs? That’s what the omnichannel approach promises – if you can get it right.

A superior customer experience that reinforces customer relationships, boosts revenue, and saves costs? That’s what the omnichannel approach promises – if you can get it right.

Snippet: Banks’ focus on digital transformation means we are all a lot more reliant these days on digital tools to perform everything from routine to complex financial transactions.

Banks’ focus on digital transformation means we are all a lot more reliant these days on digital tools to perform everything from routine to complex financial transactions.

Snippet: In 1951, the first credit cards were introduced by Franklin Bank in New York. Since then, the payments’ space has come a long way, and whether it be through a browser, mobile app or connected device, consumers have more ways to pay than ever before.

In 1951, the first credit cards were introduced by Franklin Bank in New York. Since then, the payments’ space has come a long way, and whether it be through a browser, mobile app or connected device, consumers have more ways to pay than ever before.

Snippet: Most of us don’t think twice about sharing basic information like our name and what we do for a living when introducing ourselves to someone for the first time. Would you just as happily share your social security number, financial data, or medical records?

Most of us don’t think twice about sharing basic information like our name and what we do for a living when introducing ourselves to someone for the first time. Would you just as happily share your social security number, financial data, or medical records?

Snippet: As we approach the end of the year, we looked back to see which of our blogs our readers enjoyed the most. From digital wealth management security, to inspiring customer trust, to friendly friction (yes, there is such a thing), and even evolution, the vast array of topics covered by our contributors surprised even us.

As we approach the end of the year, we looked back to see which of our blogs our readers enjoyed the most. From digital wealth management security, to inspiring customer trust, to friendly friction (yes, there is such a thing), and even evolution, the vast array of topics covered by our contributors surprised even us.

Snippet: In an earlier article by Entersekt’s chief commercial officer, Dewald Nolte, we explored the challenges and opportunities faced by banks to create a smooth, secure and successful remote onboarding process for their existing customers taking up new products or services.

In an earlier article by Entersekt’s chief commercial officer, Dewald Nolte, we explored the challenges and opportunities faced by banks to create a smooth, secure and successful remote onboarding process for their existing customers taking up new products or services.

Snippet: In September, I blogged about some of the findings of our 2019 German consumer survey, focusing on respondents’ attitudes to mobile banking and payments security.

In September, I blogged about some of the findings of our 2019 German consumer survey, focusing on respondents’ attitudes to mobile banking and payments security.

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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.