Equifax has licensed Entersekt’s product Transakt to serve as an additional layer of security protecting the Equifax online and mobile services.
Transakt empowers consumers to play an active role in safeguarding their digital identities and accounts. Whenever access to a digital identity or account is required, an authentication request is pushed to their phone or tablet in real time. They approve or block access by simply tapping Accept or Reject. It’s a highly intuitive, one-touch user experience engineered for a mobile-first world.
Transakt’s ease of use belies its advanced set of security features. Covered by 56 patents in the United States and elsewhere, the digital-certificate–based technology uniquely identifies each registered mobile device; ensures its continued integrity as a factor of authentication; and opens a trusted channel between it and the digital service provider. It is over this trusted channel, impervious to attack, that users confirm their identities when accessing their accounts and initiating sensitive digital transactions.
“Entersekt’s market leading offering enables us to expand our trusted services to various new digital channels,” said Gaurav Khanna, senior vice president global product management and new product innovation at Equifax. “Adding Transakt to our platforms provides us with a secure way to identify, reach out to, and interact with our customers.”
Entersekt’s pioneering fintech is deployed across the globe. Spanning multiple use cases in banking, payments, insurance, healthcare, and government, its technology inspires peace of mind in consumers and innovative thinking in digital product developers – all while helping enterprises remain firmly ahead of the security and compliance curve.
Sherif Samy, Entersekt’s senior vice president North America, said of the new partnership: “We are excited to team up with Equifax in enhancing protection of its customers’ identities and personal data. This alliance plays into our long-standing strategy of partnering with leading global companies to assist them in launching products and services that represent the best in digital innovation, usability, and security.”
Entersekt now processes close to 200 million app connections on its servers every month for clients in 45 countries.
The fintech firm now have offices all over the globe – including the US, the UK, Netherlands and Germany.
The company was founded in 2010 and Schalk Nolte, Entersekt’s CEO, joined the founders – four engineering students – in 2009. His international experience and relationships in the telecommunications industry were invaluable in growing the business.
The engineering remains in Stellenbosch and development costs are lower in South Africa.