Entersekt expands global reach with Modirum 3-D Secure acquisition
By Delisha Fernandes
Entersekt, a financial authentication company, has acquired the Modirum 3-D Secure software business from Modirum, a digital payment security provider.
“The combined capabilities of Entersekt and Modirum will allow us to offer a wider set of solutions and provide our customers with more data sources to use when protecting against fraud,” said Schalk Nolte, co-founder and CEO at Entersekt. “At the same time, we are expanding the types of markets and customers we can serve, enabling us to scale globally and grow faster. Entersekt is how the financial world can access one cross-channel platform for secure, frictionless, Context Aware™ Authentication of customers and payments alike.”
Modirum’s cloud-based 3-D Secure technologies and services authenticate digital payment transactions globally in numerous payment systems, hundreds of issuers, and thousands of merchants, as well as enable 3DS transactions for hundreds of millions of cardholders. With this acquisition, Entersekt will expand its customer base and will secure over 2.5 billion transactions per year.
With Entersekt’s customer and digital transaction authentication solutions, financial institutions can:
- Increase their revenue with higher transaction success rates.
- Reduce risk and fraud by replacing outdated one-time passcodes with passwordless alternatives.
- Save on costs by reducing unnecessary contact center activity and avoiding non-compliance fees.
- Expand and retain their customer base with optimal, personalized user experiences that ensure trust.
Standard Bank South Africa’s Corporate and Investment Banking Division played a key role in Entersekt’s strategic acquisition of the Modirum 3DS business as the sole mandated lead arranger for the debt portion of the deal.
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