Equity Bank, an African Financial Services Powerhouse, Chooses Entersekt to Protect Its Digital Channels
Equity Bank has selected Entersekt’s mobile-based, multi-factor authentication products, Transakt and Interakt, to boost the security of its online banking, mobile banking, and payments product set. Equity Bank is a subsidiary of Nairobi-headquartered Equity Group Holdings. Entersekt, a provider of advanced authentication and mobile security software, will partner closely with the fast-growing financial institution as it expands its digital banking and payments offerings.
Speaking when he confirmed the association with Entersekt, Equity Group Holdings managing director, Dr. James Mwangi, described the partnership as a strategic effort to guarantee the integrity of its digital financial services platforms. “At Equity, we are riding the wave of digital convenience and our association with Entersekt will afford us a rare opportunity to deliver banking services on multiple digital platforms,” Mwangi said, adding, “The provision of digital banking solutions, is part of Equity’s commitment to deepen financial inclusion in Africa.”
Mobile technology is crucial to the provision of accessible banking and payments services in sub-Saharan Africa, overcoming as it does challenges presented by inadequate infrastructure, limited travel options, and the relative expense of and distrust in traditional banking channels. “Mobile penetration rates in sub-Saharan Africa average about 70 percent and are climbing fast,” Gerhard Oosthuizen, Entersekt’s chief information officer. “Those African banks that succeed in creating innovative mobile experiences will grab the lion’s share of an underserved market.”
“By leveraging the enormous popularity of mobile devices, their support of digital certificates and encryption, as well as their user-friendly interfaces, Entersekt’s solutions enable banks to offer innovative banking capabilities without exposing their customers to fraud,” Oosthuizen continued. “Creating trusted relationships using mobile in a user-friendly way is the key to unlocking the full potential of this powerful channel.”
Equity will integrate Entersekt’s Transakt software development kit into its mobile applications to enable out-of-band, multi-factor authentication of online banking, mobile banking, mobile money transfer, e-commerce, call center, in-branch interactions, and more. Using digital certificates and proprietary validation techniques, Transakt converts the mobile phone into a trusted second factor of authentication and introduces an isolated communication channel between the device and financial institution that avoids reliance on the open Internet for user and transaction verification. The process is largely seamless to the banking customer. It avoids one-time passwords or challenge questions, requiring just one tap on a pop-up authentication request. Little to no user education is required.
Many mobile phones in Africa cannot run applications, so Equity has also opted for Entersekt’s push-USSD–based authentication product, Interakt, which provides the same peace of mind as Transakt does to owners of virtually any GSM-capable mobile device.
Ronald Webb, director of payments at Equity Bank, said, “The deployment of Entersekt extends Equity’s robust mobile strategy and, along with our Equitel MVNO initiative, will provide our customers with Africa’s most secure payments products and services. We are committed to extending financial inclusion and providing affordable, relevant, and secure services.”
Schalk Nolte, Entersekt’s chief executive officer, was buoyant. “We are delighted to have been chosen by Equity Bank. They, like other banks in Africa, have astonished me with their ambition to reimagine banking for a new digital era,” he said. “Is there anywhere in the world that’s exploring the opportunities that mobile technology opens up as fervently and creatively as this continent is? As a South Africa-founded mobile technology company, Entersekt is proud to be a part of this fast-developing story.”
About Equity Group Holdings
Equity Group Holdings Limited, formerly Equity Bank Group, is a financial services holding company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. The group has banking subsidiaries in Kenya, Rwanda, Uganda, South Sudan, Tanzania, and DRC, with additional non-banking subsidiaries engaged in provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services. It has an asset base in excess of $4 billion.
With more than 10 million customers, Equity Bank was the most profitable and largest bank in market capitalization in 2014 in East and Central Africa.
Additional information may be found at www.equitygroupholdings.com.
Entersekt is an innovative pioneer in mobile security and transaction authentication. The company’s one-of-a-kind approach combines the power of electronic certificate technology (PKI) with the convenience of mobile phones and encrypted cloud messaging to provide financial institutions and their customers with full protection from online banking fraud. With its patented security products authenticating millions of devices and transactions globally, none of Entersekt’s clients have experienced a successful phishing attack on their systems since implementing the company’s technology. Financial institutions worldwide look to Entersekt to strengthen the all-important bond of trust they share with their customers, and to build on those relationships by introducing increasingly innovative mobile and online banking services.
For more information on Entersekt, visit www.entersekt.com.
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Sparkol Launches VideoScribe 318.10.2017 13:24 | Pressemelding
Introducing VideoScribe Version 3 by Sparkol. Already used by over two million people across the world to create engaging explainer videos, Version 3 of the highly intuitive software comes packed full of new features, including: An improved user experience and slick UI - animate easier than ever before Enhanced search - find exactly the image you need in record time Intelligent image recommendations - focus your creativity on your video instead Smoother performance - maximum productivity when using the software VideoScribe customers include the world’s largest brands (HP, BBC, Sky and the University of British Columbia), businesses across every sector, leading education providers, award-winning teachers, charities, campaigners, and coun
Piraeus Bank: Agreement for the Sale of Serbian Operations18.10.2017 13:06 | Pressemelding
Piraeus Bank announces that it has entered into an agreement to sell its Serbian banking and leasing operations to Direktna Banka A.D., a local Serbian banking group that has been strongly growing its presence in the market, for a total cash consideration between €58mn up to €61mn, depending on the financial performance of the divested assets until completion of the transaction, through a combination of direct sale price and simultaneous reduction of capital in Piraeus Bank Beograd AD. The transaction is conditional upon the usual corporate and regulatory approvals, including those of the National Bank of Serbia and the Hellenic Financial Stability Fund. The transaction represents another step towards the implementation of Piraeus Bank’s Restructuring Plan commitments, as those were agreed with the Directorate General of Competition of the European Commission. The transactio
Introducing InVision Studio, The World’s Most Powerful Screen Design Tool18.10.2017 13:01 | Pressemelding
InVision, the product design platform powering the world’s best digital experiences, today introduced Studio, a powerful new tool that will change the way screen design is done. InVision Studio was created by working closely with the world’s best design teams and finding inspiration in how they create beloved digital products. The launch of Studio comes at a time when modern organizations are shaping and redefining entire markets through their focus on digital customer experience. InVision already powers the product design process of more than 3 million people at tens of thousands of companies, including eighty percent of the Fortune 100 and brands like Airbnb, Uber, HBO, Amazon, IBM, Nike, and Slack. This new product reflects a major evolution of the digital product design workflow. With Studio, InVision has developed an end-to-end platform for designing digit
SmartStream and Credit Suisse Expand their Agreement from the Processing of Invoices and Reconciliations to Now Include Listed Derivatives Brokerage Fees18.10.2017 12:00 | Pressemelding
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that its original agreement with Credit Suisse was recently expanded to include the processing of Listed Derivatives Brokerage fees which began in February of this year. This expansion in SmartStream’s partnership with Credit Suisse complements its existing managed service solution for the processing of invoices and reconciliations within Credit Suisse’s OTC Fixed Income Derivatives, US Listed Equity Options and Cash Equities businesses across brokerage, clearing and exchange fees operations, which began in June of 2016. The managed service enables the bank to advance the operational efficiencies created through the use of the utility-based solutions offered by SmartStream, utilizing their proprietary execution fees and expense management software. By centralizing the ent
Biogen Confirms Commitment to Tackle Multiple Sclerosis Through Comprehensive Approach18.10.2017 11:30 | Pressemelding
Biogen (NASDAQ: BIIB) confirms its comprehensive approach to tackle multiple sclerosis (MS) at the seventh Joint Meeting of the European Committee for Treatment and Research in MS and Americas Committee for Treatment and Research in MS (ECTRIMS-ACTRIMS; 25 – 28 October). “With more than 25 years of scientific leadership in MS, Biogen’s commitment is unwavering,” said Michael Ehlers, executive vice president, Research & Development at Biogen. “Our expertise puts Biogen in a unique position with a comprehensive approach including active research and clinical development on how to repair the damage to the central nervous system from relapsing forms of MS, a portfolio of new drug candidates that we are advancing to the clinic, our collaboration to identify a digital biomarker, our focus to advance understanding of the disease through global data collection with MS PATHS, active pursuit
Scientist.com Collaborates With UKCRC Tissue Directory and Coordination Centre to Ensure Quality of Human Biosample Acquisition Globally18.10.2017 11:01 | Pressemelding
Scientist.com, the world’s leading marketplace for outsourced scientific services, today announced that it is entering into a collaboration with the UKCRC Tissue Directory and Coordination Centre (UKCRC TDCC) to support the work of biobanks throughout the United Kingdom. The partnership will enable drug R&D to move forward more quickly by making large collections of prescreened human biological samples available for scientific research. Through the new COMPLI™ feature, Scientist.com provides a simple, efficient and effective way of increasing the visibility and accessibility of biobanks’ human biological samples collections, which support new medical research. COMPLI™ introduces a common, comprehensive process and supply agreement supporting access to human biosamples. The goal is to enable biobanks to more easily connect with researchers in the pharmaceutical and biotech indust
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom