Entersekt, a global leader in digital banking fraud prevention and payment security, today announced its win of Best Authentication Innovation for the 5th 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 friction 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,” says 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 consolidates disparate fraud data sources while incorporating robust signals to provide detailed and contextual information 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 assessing account integrity after initial authentication to determine the most effective action and prevent financial fraud, all while preserving a seamless experience for legitimate users.
“As fraud schemes evolve beyond traditional phishing to include SIM swap attacks, account takeovers, and authorised push payment scams, financial institutions need authentication solutions that can adapt in real time,” says Jim Mortensen, strategic advisor at Datos Insights. “Entersekt’s platform addresses this by incorporating advanced risk rules and signals that provide contextual awareness for each transactional scenario.”
Datos Insights is the leading research and advisory partner to the banking, insurance, and securities industries, serving both financial services firms and the technology providers who support 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.
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- Learn more about Entersekt’s authentication solution for financial scam and fraud prevention.
About 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 optimises 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 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.
