ENTERSEKT
10.5.2022 09:02:07 CEST | Business Wire | Press release
Entersekt , a global leader in device identity and authentication solutions, today announced that Capitec Bank has implemented its innovative EMV 3-D Secure solution that boosts the security of e-commerce payments, while reducing friction for cardholders.
Entersekt’s solution leverages behavioral analytics from NuData Security, a Mastercard company, that provides industry-leading risk-based authentication technology. This builds on the partnership between Entersekt and NuData Security that was formalized in 2020.
“E-commerce or ‘card-not-present’ fraud remains unacceptably high in South Africa, accounting for 80 percent of credit card and 53 percent of debit card fraud according to SABRIC ,” says Schalk Nolte, CEO of Entersekt. “Entersekt’s EMV 3-D Secure solution combines our strong authentication technology with the latest in behavioral technology to address exactly this security issue. Our solution is unique in that it is fully customizable, enabling Capitec to create differentiated e-commerce experiences for their cardholders. This implementation is another milestone on our innovation journey with Capitec as we keep pushing the boundaries of digital security and user experience.”
By implementing Entersekt’s EMV 3-D Secure solution , Capitec can now identify high-risk e-commerce interactions in real-time, significantly boosting security without impacting the customer experience. The solution is available as a single platform and comes pre-integrated with NuDetect, NuData Security’s flagship product. It combines behavioral biometrics, machine learning, and insights from billions of anonymous data points to distinguish between authentic users and potential fraudsters based on their online, mobile app, and smartphone interactions, flagging those that represent the highest risk.
During checkout, the solution derives a risk score for the cardholder’s e-commerce transaction. Based on the risk score, a frictionless authentication experience continues when there’s little to no risk. In high-risk cases, where greater certainty is required, a step-up authentication process is triggered. The solution supports a range of authentication options, including in-app push prompts, biometrics, and FIDO-certified security keys.
By analyzing behavioral and device-based information, the solution enables Capitec to protect its customers and provide frictionless checkout experiences.
“We are constantly looking for ways to offer the best security possible without impacting our customers’ experiences. By implementing Entersekt’s EMV 3-D Secure solution with behavioral analytics from NuData Security, we are able to provide an additional level of protection for our e-commerce transactions. This also allows our team to continue to innovate, keeping our customers secure and Capitec at the forefront of digital banking innovation in South Africa,” explains Francois Viviers, Executive: Marketing and Communication at Capitec Bank.
About Entersekt
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
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