Entersekt Enables FIDO Authentication for Improved Security, User Experience, and Customer Choice
CYBER attacks pose a massive risk for financial institutions. The cost of data breaches averages tens of millions of dollars, and other after-effects are often far-reaching for organizations and their customers. At the root of these breaches are passwords – in an estimated 80% of cases.
“Eliminating passwords and replacing them with more secure and user-friendly solutions is critical,” says Entersekt’s SVP Product, Christian Ali.
Ali says there’s been a massive surge in online fraud in the past 18 months. Existing methods of authenticating consumers’ identities and transactions typically rely on outdated, less secure solutions like passwords or OTPs, while more secure solutions often require a mobile app. In addition, poor user experience often leads to cart abandonment – and lost sales. Users are frustrated and banks are at risk.
To address the divide between strong security on the one hand and good user experience on the other, Entersekt has expanded its authentication suite to include FIDO authentication. The FIDO2-certified solution is quick and easy to integrate into the customer journey. It offers an intuitive alternative to passwords and app-based authentication for login and online payments, and accepts both roaming and platform authenticators.
“Our platform allows financial institutions to offer their customers a truly intuitive user experience,” says Ali. “In Europe, it also allows institutions to comply with Strong Customer Authentication (SCA) requirements under the revised Payment Services Directive (PSD2).” Entersekt’s solution was recently implemented by German issuing processor PLUSCARD in partnership with Netcetera, becoming the first FIDO-certified alternative to app-based authentication in Europe.
“We wanted to provide all our customers with a secure solution for authenticating online payments – including customers that do not use smartphone apps. The market-first FIDO implementation provided by Entersekt and Netcetera enables exactly that,” says Petra Silsbee, Head of Department: Fraud Prevention/Dispute Management at PLUSCARD.
Entersekt is a leading provider of strong device identity and customer authentication software. Financial institutions and other large enterprises in countries across the globe rely on its multi-patented technology to communicate with their clients securely, protect them from fraud, and serve them convenient new experiences irrespective of the channel or device in use. For more information, visit entersekt.com or email email@example.com .
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
PROMPERÚ22.10.2021 19:17:07 CEST | Press release
Peru Holds a Ribbon Cutting Ceremony at Its Pavilion at Dubai Expo and Wins 4 World Travel Awards
TX-SCHLUMBERGER-LIMITED22.10.2021 12:52:09 CEST | Press release
Schlumberger Announces Third-Quarter 2021 Results
DISRUPTIVE.ASIA22.10.2021 12:32:08 CEST | Press release
Disruptive.Asia: Huawei's Ryan Ding and Peng Song Discuss How Operators Can Leverage Connectivity to Unlock New Growth
SUZANO22.10.2021 12:21:06 CEST | Press release
Suzano Brings Its Target for Capturing 40 Million Tons of Carbon From the Atmosphere Forward To 2025
ANT-GROUP22.10.2021 12:03:04 CEST | Press release
AntChain Launches Its First Security Chip and New Blockchain Platform Powered by Privacy Computing Technology
TOTAL-TELECOM22.10.2021 12:02:04 CEST | Press release
Total Telecom: Maximizing the Value of Connectivity
EGLE-THERAPEUTICS22.10.2021 11:32:10 CEST | Press release
Egle Therapeutics Raises 40 Million € Series a to Develop First-In-Class T-regulatory Cells Therapies Based On Treg-starvers
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom