In 2024, one of Entersekt’s customers, a large U.S. bank, started seeing a sharp rise in account takeover (ATO) fraud. Bad actors were accessing customer accounts to initiate unauthorized peer‑to‑peer (P2P) payments and external transfers.
Despite ongoing education, fraudsters were still persuading the bank’s customers to share login credentials or one‑time passwords (OTPs), driving financial losses and eroding trust in its digital channels. The impact was felt across the organization, from rising fraud losses and pressure on customer service teams to growing reputational risk.
After a formal RFP process, the bank chose Entersekt for its strong security, low friction, and seamless integration with the bank’s digital banking platform.