Capitec announced last month that it had signed up more than two million clients to its mobile banking service, and according to Entersekt, the bank has already started rolling out its application to clients.
“The Entersekt application provides an additional layer of security and allows the bank client to authorise online banking transactions,” said Christiaan Brand, founder and CTO of Entersekt.
“The South African market has been increasingly subjected to phishing attacks and our application gives clients peace of mind as it allows them to accept or reject transactions using their mobile phones.”
“The Entersekt application makes use of certificates on the mobile phone, which encrypts the communication between the client and the bank. Entersekt is the first company in the world to offer a mobile certificate solution together with transaction authentication for banks' clients,” he said.
“We are determined to offer our clients the best available security when banking with us, and for this reason we have chosen this solution as it ensures leading-edge security combined with easy-to-use convenience. We are continually looking for new and effective means of enhancing our systems,” said Carl Fischer of Capitec Bank.
Entersekt has already signed up with Nedbank and according to Brand, the group is making “significant headway” in the local and international market in terms of the adoption of its technology by more banks.