Entersekt, a world leader in transaction authentication and app security software, today announced a strategic alliance with CREALOGIX, a provider of leading-edge business applications to the financial industry.
As the online and mobile channels continue to claim a greater share of banking and payments in the European market, financial services companies are looking for convenient, safe methods to authenticate transactions. With this partnership, CREALOGIX is able to offer mobile push-based authentication solutions to its customers in order to protect these channels.
The solution is based on the installation of Entersekt’s product, Transakt, on users’ mobile devices. Available as a software development kit or stand-alone mobile app, Transakt is used by millions of consumers to verify their digital banking transactions and online purchases. It creates an end-to-end, out-of-band communication channel between the user’s mobile device and the back-end systems of the finance institution, over which an exchange of signed digital certificates takes place.
“With the shift towards more mobile payments and the rise of associated authentication costs, banks welcome a method that is extremely safe, cost efficient and that is also helping them to offer unrivalled customer experience. We believe in providing best-of-breed technology solutions to our customers and that the Entersekt solution is a great asset to our portfolio of software solutions to help create the ‘bank of the future’,” said Thomas Avedik, CEO of CREALOGIX.
Entersekt’s multi-factor authentication and app security solutions are engineered specifically for the heavily regulated financial sector and adhere to all major digital banking security mandates, including the relevant requirements set out by the European Central Bank, the German Federal Financial Supervisory Authority, and the Federal Financial Institutions Examination Council in the United States.
“Today, most commercial banks in South Africa are using our authentication solution and, over the years, other banks in Africa and Europe have implemented our product,” said Schalk Nolte, CEO of Entersekt. “As we experience a growing interest from different parts of the world, we have with CREALOGIX a strong business partner that understands how strong two-factor authentication helps the industry to protect digital transactions.”
Claudius van der Meulen, VP business development Europe at Entersekt, added: “The growing number of mobile transactions offer a huge opportunity to banks to differentiate themselves from their competitors by delivering a truly user-friendly authentication experience. To us, CREALOGIX is a business partner that understands the innovation that is needed in the finance industry. It has proven that it’s in the forefront of providing quick and cost-efficient solutions to protect financial institutions and their customers.”