Entersekt partners with Capitec Bank

Issue 2 2022 Financial (Industry)

Entersekt, a company focused on device identity and authentication solutions, announced that Capitec Bank has implemented its EMV 3-D Secure solution that boosts the security of e-commerce payments, while reducing friction for cardholders.

Entersekt’s solution leverages behavioural analytics from NuData Security, a Mastercard company, that provides risk-based authentication technology. This builds on the partnership between Entersekt and NuData Security that was formalised in 2020.

“E-commerce or ‘card-not-present’ fraud remains unacceptably high in South Africa, accounting for 80% of credit card and 53% 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 behavioural technology to address exactly this security issue. Our solution is unique in that it is fully customisable, 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 behavioural 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 analysing behavioural 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 behavioural 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.




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