Despite the growing threat online fraud poses to financial institutions of every size, many US banks and credit unions continue leveraging obsolete forms of security technology, leaving their customers vulnerable to attack.
In light of the escalating war on digital crime in North America and the success the company has already experienced with its banking customers overseas, Entersekt entered the North American market in 2013 to provide the same level of authentication technology to institutions in the US.
"Regardless of the size or location of a given financial institution, hackers will stop at nothing to take full advantage of existing security vulnerabilities present within the institution's IT infrastructure," said Francois van Schoor, Entersekt's president of global business development. "Having successfully assisted our overseas customers in eliminating account takeover fraud, we have set our sights on duplicating the same results here in North America and are confident that our unique approach to authentication, combined with decades of industry expertise, will have a substantial impact on today's fraud epidemic."
In addition to Entersekt's new corporate presence in Atlanta, co-founder and chief technology officer Christiaan Brand has relocated to San Francisco from the organisation's South African headquarters. With this addition to the organisation's US-based personnel and the opening of the company's new offices in Atlanta, Entersekt has expanded its presence from coast to coast.
Entersekt utilises out-of-band communication and two-factor authentication to provide banks and banking customers with greater protection against a wide range of fraudulent schemes.
Leveraging the customer's mobile phone to enable one-touch approval or rejection of potential transactions, Entersekt removes the need for expensive hardware tokens and cumbersome one-time passwords. It has fully eliminated online banking fraud at institutions deploying the company's Transakt product.