Clare Conway, who has served as the firm’s chief operating officer for the last 18 months, will take on the chief executive role Aug. 1, Entersekt said in a Thursday (July 30) news release.
Schalk Nolte, founder and current CEO, will move into the role of founder/board member, advising on market insight, innovation and long-term strategy, the release added.
“It is a privilege to take on the leadership of Entersekt at such an exciting point in its journey,” Conway said in the release.
“Under Schalk’s leadership, Entersekt has built an outstanding reputation for innovation, customer partnership and trust in the financial services industry. We have a strong foundation, a talented global team and a significant opportunity ahead of us. I am excited to lead the team to build on our success and drive the next phase of growth.”
According to the release, Conway has more than 25 years of experience in scaling technology businesses, leading operational transformation and building high-performing global teams. Before joining Entersekt, she served as the COO of Partnerize and held leadership roles at Clavis Insight and Ascential.
The release cites data from the Global Anti-Scam Alliance showing that 70% of adults worldwide had run into a scam in the last 12 months, with 13% encountering a scam at least once per day.
“This continued fraud growth requires proactive innovation to combat it and protect consumers, merchants and issuers,” Entersekt’s release added.
“Conway’s deep enterprise technology and operational experience will increase Entersekt’s disciplined execution, global scaling capability and strong operational oversight to provide increased customer and industry market value.”
In other Entersekt news, PYMNTS spoke recently with Dewald Nolte, the company’s co-founder and chief strategy officer, about a question plaguing payments executives: how much legitimate revenue is being blocked by fraud prevention efforts?
“The amount of transactions that are falsely declined vastly outweighs the actual fraud,” Dewald Nolte told PYMNTS. “Ironically, we’re declining a lot more good transactions than we’re actually stopping fraud.”
While losses from fraud are “visible, measurable and routinely reported,” that report argues that false decline losses are spread across customer experience, merchant performance and long-term revenue outcomes, and are often hidden by broader business metrics.
