Device identity and omnichannel authentication provider Entersekt has teamed with Mastercard company NuData Security. The deal lets the FinTech integrate the NuDetect behavioral analytics technology with the Entersekt Secure Platform, according to a Tuesday (Sept. 2) announcement.
“By combining our leading technologies, we unlock new ways to remove friction for users interacting online, on web or mobile,” Entersekt Chief Strategy Officer Dewald Nolte said in the announcement. “The combination is like none other on the market, in usability and security, and is another exciting leap forward in our mission to make the digital world safer and more user-friendly.”
NuDetect harnesses device and behavioral information to tell the difference between genuine users and high-risk users in the moment. As a result, the technology lets legitimate users transact without being burdened by security impediments. A “step-up” authentication procedure is brought about in instances where increased certainty is needed.
That process can involve a FIDO-certified security key, a push prompt in an app or different choices available via Entersekt.
The Entersekt Secure Platform creates a secure foundation for the quick implementation of novel online banking and payment services. A digital-certificate-based consumer device ID is central to the technology, “seamlessly transforming mobile apps and desktop browsers into regulatory compliant second factors of authentication” per the announcement.
“The COVID-19 pandemic led many consumers to shift more of their shopping online during the first half of this year,” NuData Security Senior Vice President Michelle Hafner said in the announcement. “Our analysts saw a 500% increase in account creation fraud alone during this period, reinforcing the need to leverage state-of-the-art technologies that differentiate between valid users and bad actors.”
“By adding behavioral analytics to the Entersekt Secure Platform, we provide an additional layer of protection while simultaneously reducing friction and improving the customer experience,” Hafner said.
The news comes as identify verification nonprofit SocialCatfish.com reported that American losses from pandemic fraud and ID theft had reached almost $100 million since COVID-19 emerged in March.
