NV-ENTERSEKT/BIOCATCH

Entersekt , an innovator in mobile-first fintech solutions, and BioCatch , the global leader in behavioral biometrics, today announced a partnership, answering market demand for streamlined and fully secured digital banking and payments experiences.

With online and mobile banking user growth leveling off in many countries, financial institutions’ focus is switching from driving adoption to deepening engagement and fostering customer loyalty. Going beyond mere design tweaks to improve speed and ease of use, banks and other financial services providers are bringing more of their existing products onto their digital platforms and exploring new mobile- and online-only experiences for greater personalization, context-driven information sharing and advice, cashless payments, and more.

The rewards of focusing so closely on the customer experience are many. To guarantee success, however, banks must deliver the same kinds of intuitive, low-friction – even fun – experiences that popular consumer apps do while bearing a heavier regulatory burden commensurate with their status as licensed, insured depositories and custodians of personal data. That’s a tall order without the right tools.

BioCatch and Entersekt have both built impressive patent portfolios by developing tools that help secure self-service channels while enhancing the customer experience. Their collaboration promises to generate innovative new use cases, such as passwordless login and enhanced remote user registration.

The Entersekt Secure Platform is built on patented strong authentication and security technology, enabling innovative, rich digital experiences and secure payments for financial insitutions and other enterprises. BioCatch, in turn, leverages AI to analyze how users engage with digital interfaces and devices, using up to 2,000 parameters to passively authenticate a user and validate user identity in online applications.

“BioCatch’s behavioral biometrics technology is an exciting alternative to the fingerprint and facial recognition solutions we already offer on our secure platform,” said Sherif Samy , SVP North America at Entersekt. “It will add value for our customers, especially in usability, by helping to determine when step-up authentication is really required and when we can safely leave the user to go about their business uninterrupted.”

If the BioCatch system detects an anomaly, it will send an alert to Entersekt’s security platform to perform an out-of-band, multi-factor authentication, which may also be mandated by law, as under PSD2 in Europe. Entersekt’s technology, which rests on a public-key infrastructure, can uniquely identify any consumer device through digital certificates, transforming it into a trusted factor of possession.

Avi Turgeman , founder and chief technology officer at BioCatch, said, “Financial institutions moving to the digital channel understand that both security and user convenience are paramount, but they often struggle with how to build a solution that addresses seemingly contradictory requirements. Our combined approach with Entersekt answers the call, with behavioral biometrics as ‘who you are,’ the mobile device as ‘what you have,’ and the additional elements required to step up a transaction in real time if there is a problem.”

Sherif Samy, SVP North America at Entersekt, and Frances Zelazny, chief marketing and strategy officer at BioCatch, are at KNOW 2019 in Las Vegas this week, where both are leading panel discussions on behavioral biometrics and the power of the mobile in digital identity. Contact Entersekt or BioCatch to set up a meeting.

About Entersekt

Entersekt is an innovator of mobile-first fintech solutions. Financial services providers and other enterprises rely on its patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. Whether pursuing compliance through strong authentication and state-of-the-art app security or looking to meet consumer demand for on-the-go information sharing and payment capabilities, Entersekt’s clients always enjoy a competitive advantage. For more information, visit www.entersekt.com .

About BioCatch

BioCatch is a digital identity company that delivers AI-driven behavioral biometrics, analyzing human-device interactions to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and better manage online identity verification, without compromising the user experience. With an unparalleled patent portfolio and deployments at major financial institutions and global enterprises around the world that cover 90 million users to date, BioCatch has established itself as the industry leader. For more information, please visit www.biocatch.com .

View source version on businesswire.com: https://www.businesswire.com/news/home/20190325005309/en/

Contact:

Entersekt Jeanne Maartens, SVP Marketing +27 21 815 2800

BioCatch Nicole Keller +1 212 754 5423 nkeller@intermarket.com

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