Entersekt, which positions itself as a global leader in digital banking fraud prevention and payment security, today announced its win of Best Authentication Innovation for the fifth annual Datos Insights’ Impact Awards in Fraud & AML. This accomplishment underscores Entersekt’s international leadership and commitment to safeguarding financial institutions with proactive prevention against evolving digital banking and payment fraud.
The 2024 Global State of Scams Report found that scammers stole $1.03 trillion worldwide. Increasing security to combat this fraud often results in customer frustration, leaving financial institutions with the burden to address increasingly complex threats while maintaining exceptional customer experience. Entersekt’s industry-leading platform is designed to reduce scam and fraud losses, streamline investigations, optimise risk management and adhere to compliance while utilising both active and silent factors of authentication to reduce the amount of friction experienced during logins and other transactions.
“We’re proud to be recognised for our work leading the industry through disruptive financial scam and fraud products and capabilities,” said Schalk Nolte, CEO of Entersekt. “Our mission is to empower financial institutions to conquer fraud, poor digital experiences and ensure regulatory compliance with confidence. Entersekt clients consistently see reduced fraud costs and higher transaction success rates with less friction, improving customer retention and trust.”
The Entersekt platform pulls disparate fraud data sources together while adding robust signals to provide detail and context for every fraud scenario. Entersekt collects, curates and analyses hundreds of data points and fraud indicators across transactions, user behaviour, context, device, location and consortium data from billions of transactions globally. The platform identifies risk by validating user intent and receiving account integrity after initial authentication to determine the most effective action and prevent financial fraud, all while preserving a seamless experience for legitimate users.
Datos Insights is the leading research and advisory partner to the banking, insurance and securities industries – both the financial services firms and the technology providers who serve them. The Datos Insights' annual awards programme, Fraud & AML Impact Awards, recognises innovations leading the industry and pioneering new and disruptive financial crime products and capabilities.
For more information on Entersekt’s authentication solution for financial scam and fraud prevention, visit here.
Share
Entersekt
Entersekt, The Financial Authentication Company, provides financial institutions with digital banking fraud prevention and payment security solutions through its cross-channel, Context Aware™ Authentication platform that secures digital transactions and optimizes user experiences. Founded in 2010, Entersekt serves financial institutions around the world, and holds 120+ patents for its security innovations. In 2023, Entersekt acquired the Modirum 3-D Secure software business from Modirum, a security technology firm based in Helsinki, Finland, positioning Entersekt as a global industry leader in authentication solutions for financial services. Entersekt processes 7.5bn+ transactions for 250m+ cardholders and 450,000+ merchants from nearly 900 banks in 70+ countries. Backed by companies like Silicon Valley-based Accel-KKR, one of the world’s top private equity firms, Entersekt continues to expand its footprint across key regions. For more information, visit www.entersekt.com.