With over 200 million digital banking customers in the US alone, and 89% of organizations experiencing a phishing attack in the past year, FIs need to shield their customers from modern forms of online banking fraud. Find out how in our ebook, “Authentication re-imagined.”
How to combat evolving digital banking fraud with intelligent authentication
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Every day, banks and credit unions across the globe are at the mercy of fraudsters... if their digital banking security has stagnated, that is. While attacks grow more sophisticated — often involving multiple vectors in a single strike — many financial institutions (FIs) still rely on legacy technology, and disparate solutions, to keep fraudsters out.
These systems will keep failing. But, with Entersekt, you can safeguard all your digital banking channels, cover all attack vectors, and save on costs with a single, secure authentication platform.
Digital banking fraud trends.
- $88 billionlost to fraud in the US in 2022
- 70%of consumers have personally experienced fraud
- 89%of consumers believe FIs need to do more to protect against fraud
- Two-thirdsof consumers would change FIs if they experienced fraud
Outsmart fraudsters with intelligent online banking fraud prevention.
Watch this video to learn how.
Stop stalling digital transformation with outdated authentication solutions.
As a result, banks with outdated core systems cannot customize their digital engagement channels or create a personalized experience for their customers. In a highly competitive landscape, this opens FIs up to dangers, such as:
- Limiting business growth
- Fewer revenue opportunities
- Customer attrition
- Fewer customer communication and education channels
- 37%Chief technology officer
- 22%Chief information officer
- 8%Chief customer experience officer [American Banker: 2023 State of Digital Banking report]
From vulnerable SMS OTPs to cutting-edge fraud mitigation with passwordless authentication.
Prevent chargebacks, revenue loss, and reputational damage with browser authentication.
Considering that there are over 24 billion credentials available for sale on the dark web, many FIs need to relook at how they keep their customers’ data secure to prevent the dire reputational and financial losses of ATO fraud, identity theft, and other attack vectors.
Solutions, like Browser Authentication, create a trusted environment that identifies and protects banking customers by assessing risk in real-time.
Entersekt’s Browser Authentication protects all banking channels and provides both silent and active authentication measures for a seamless, secure user experience.
Learn more in our ebook:
Solve inconsistent payment UX with delegated authentication solutions.
Keeping up with compliance regulations like the Second Payment Services Directive (PSD2) and PSD3 will help FIs improve the security of online payments. To get a step ahead, merchants can take control of the authentication process with delegated authentication, providing shoppers with a faster and more intuitive checkout experience.
Modern authentication solutions should enable seamless e-commerce payments. Delegated authentication does just that by letting merchants decide when and how to authenticate their customers.
Learn more about creating a consistent UX for online shoppers in our ebook:
Create personalized customer experiences with biometric authentication.
Legacy security solutions cannot match the user experience that today’s tech-savvy consumers expect. By forcing banking customers down rigid authentication journeys, you risk losing revenue and customer loyalty.
Providing a choice of modern authentication solutions, like biometrics, supports a user experience that is both seamless and secure.
Learn more about creating secure, user-friendly authentication experiences with biometric authentication and behavioral analytics in our ebook:
A single, context-based authentication solution for intelligent digital banking.
Outdated digital banking security cannot outsmart cybercriminals and their ever-evolving attacks. And without context on who is transacting, FIs risk opening the door to fraudsters.
To gain the context you need to differentiate friend from foe, authentication solutions need to gather and share data across all of an FI’s customer engagement channels. That way, valuable data that helps build context (such as your customers’ typical banking and payment behavior, location, and preferred device) is not trapped in silos.
Entersekt’s Context Aware™ Authentication solution provides a complete, context-rich picture of both the user and the interaction in real-time, allowing for a curated authentication journey for the customer, for each interaction.
Learn more about this cutting-edge technology in our ebook.
We’re here to support your FI’s next step in your modernization journey. Discover new innovations in digital banking and payment security to help your bank or credit union fight fraud and poor digital experiences — in our ebook: ‘Authentication re-imagined’.