Entersekt Appoints IST Networks as Reseller in the Middle East and Turkey

Posted on August 26, 2016 · 2 min read

Entersekt Appoints IST Networks as Reseller in the Middle East and Turkey - Featured Image | MEA Markets
Share this article
Image

Entersekt Appoints IST Networks as Reseller in the Middle East and Turkey

Entersekt, an innovator in mobile-enabled digital banking security, today announced a partnership with IST Networks. A leading systems integrator in the Middle East, IST now offers Entersekt’s Transakt technology to banks and other enterprises operating in the region.

Transakt is a patented multi-factor authentication and app security product that provides full protection from phishing and other attacks targeting the online, mobile, and card-not-present channels. It uses state-of-the-art digital certificate technology and proprietary mobile validation techniques to form a trusted communication channel between service providers and their customers’ mobile phones or tablets.

Secure push messages are delivered to users over this channel, which is fully out of band. Users approve or reject transactions with one tap, and their responses are digitally signed. Transakt secures the entire process in the background, seamlessly. There is no need for one-time passwords (OTPs).

OTP-based authentication remains the predominant means of securing digital banking in the Middle East, particularly in Saudi Arabia and Bahrain where SMS OTPs or mTANs are widely used. It is, however, no longer fit for purpose, being increasingly compromised by phishing and SIM-swap attacks and providing a cumbersome user experience.

‘A storm of large-scale attacks against OTPs continues to build globally, even as regulators and telecommunications bodies urge businesses to shelve the dated technology,’ said Dewald Nolte, a co-founder of Entersekt and its SVP partnerships and alliances. ‘Now is the perfect time for banks in this region to re-evaluate their approach to user authentication. Our partnership with IST Networks provides an opportunity for them to do just that.’

‘Entersekt’s digital security solution is a key component within IST’s CX portfolio,’ added Mohamed Fahmy, CEO of IST Networks. ‘Both IST and Entersekt understand the importance of digital convenience with today’s security conscious consumers.’


 

 

 

You might also like

Looking for more? Gain deeper insights with these recommended articles, selected to provide further value.

July 28, 2021 African Continental Free Trade Area Strongly supports bid of Made in Africa to buy Vlisco

It has been brought to the attention of the African Continental Free Trade Area (AfCFTA) Secretariat that our strategic partner, a leading African financial institution supported a $200 million bid by Made in Africa to purchase Vlisco, a textile c...

July 17, 2024 How New Platforms Help Women to Rejoin Work After a Career Break in the United Arab Emirates

Margy Mommertz completed her contract role as an HR Director in a company in October 2023 and wanted to seek greater job stability. “I wanted to find my way into a full-time career with security in a stable company, and not contract work,” she say...

September 6, 2021 Cloud and Microsoft Ecosystem Will Create 13,100 Jobs in Kuwait by 2024

Kuwait is accelerating its adoption of technology with large-scale investments that will create 13,100 new jobs in the economy, enabled through cloud and Microsoft’s ecosystem, according to new research by the International Data Corporation (IDC)....

Join our newsletter.

Gain Access To Exclusive Content

Stay Updated With The Latest News

It's Free To Subscribe

By signing up, you agree to receive marketing emails.

Join our newsletter box - side image
Trusted by the best teams around the world