Entersekt, has expanded its worldwide operations and secured contracts with banks across several continents. The company specialises in online authentication and mobile security solutions within the financial services sector. Having relationships with Equity Bank in Africa and First Bank in the United States, Entersek will continue its global expansion and capitalize on increased spend on cyber security worldwide.
According to Entersekt CEO, Schalk Nolte, the company’s technology has secured over one billion online transactions in the last 12 months, which includes an impressive 60 million a month in South Africa.
“Our growth is testament to Entersekt’s solid operational and technical expertise, and it also reflects a growing recognition worldwide of the immense benefits of digital banking and secure online channels,” says Nolte.
Ensuring customers trust digital channels
Only around 10% of authentication solutions in use today rest on out-of-band, push-based mobile technology, but research firm Gartner expects that by 2019 over 60% will do so, becoming the dominant authentication method. Out-of-band multi-factor authentication significantly increases the security of online and mobile transactions – and thus creates the prerequisite for higher user numbers.
“The widespread adoption of new authentication and mobile security solutions reflects a strong emphasis on the end user experience,” adds Nolte. “The financial services sector is recognising the importance of providing seamless and secure online security in order to drive customers to their digital channels.”
There is also a major cost implication for savvy financial services providers who can give their digital users peace of mind. The cost of conducting transactions at ATMs globally is up to 13 times higher than through a mobile phone, according to Javelin Strategy & Research and KPMG analysis, cited in a UBS Group AG study. Their data also revealed that transactions carried out at branches cost up to 43 times as much.
“Globally, customers are looking to their trusted financial services providers for assurance that the proliferation of new digital channels and online transaction methods are safe,” says Nolte. “We are partnering with providers in order to ensure that this customer trust is maintained and made stronger, as well as to ensure that companies can ‘future proof’ themselves in a highly disruptive environment.”
Entersekt hires to complement global expansion
To make the most of the current momentum and drive its global expansion, Entersekt has signed up key talent in recent months.
Renata Fischer has recently joined the company as SVP of Sales. Fischer comes armed with vast experience in the technology and telecommunications domain – most recently as Vice President Sales Messaging at Clickatell, a global company headquartered in California.
“Fischer has a thorough understanding of the nuances of doing business globally and has over the years developed the key networks and alliances needed in securing and retaining sustainable revenue,” says Nolte. “She joins a team that is firmly positioned for growth and a company that has a major stake in one of the fastest growing and most important elements of global financial services.”
Adnaan Isaacs, now the VP of Operations, comes from a strong service and operations background, having worked for multinational companies in global support, professional and managed services roles.
“Isaacs leads Entersekt’s Operations Centre of Excellence, and will ensure that we are prepared for the next stage of our expansion,” adds Nolte.
Tertius Wessels also joined the team earlier this year as Entersekt’s Product Manager, having spent over 14 years in the industry in roles that included telematics, asset management and laboratory information management. He is a true technology enthusiast, and first dipped his toes into the ocean that is software development at the age of 12.
Last but certainly not least, Rita Lindenberg, Entersekt’s new VP of Human Resources, has more than 15 years of experience as a human resources management professional. She has successfully managed a global HR organisation, and is able to identify the cultural aspects that are key to engaging personnel across varying territories.
“We have phenomenal expertise onboard. It positions us well as we ramp up international expansion,” says Nolte. “At the same time, we are ensuring that our existing clients maintain the hard-won trust and confidence that their loyal customers have placed in them.”