Cape Town Fraud Fighter Expands, Opens Atlanta Office

Cape Town Fraud Fighter Expands, Opens Atlanta Office

Cape Town-based Entersekt, a mobile application security company, plans to open U.S. headquarters in Atlanta, ITWeb reports.

The company’s overseas operations will remain near Cape Town. U.S. headquarters will be based in Atlanta’s Tower Place 100 building at 3340 Peachtree Road Northeast.

Entersekt says it uses out-of-band communication and two-factor authentication to give its bank clients — and their customers — greater protection against a wide range of scams.

The company leverages customers’ mobile phones to enable one-touch approval or rejection of potential transactions, saying this removes the need for expensive hardware tokens and cumbersome one-time passwords, according to ITWeb. The company claims it has eliminated online banking fraud at institutions using its Transakt product.

Many U.S. banks and credit unions continue to use obsolete forms of security technology, leaving their customers vulnerable to attack, the company says.

Entersekt entered the North American market in 2013.

“Regardless of the size or location of a given financial institution, hackers will stop at
nothing to take full advantage of existing security vulnerabilities present within the
institution’s IT infrastructure,” said Francois van Schoor, Entersekt’s president of global
business development. “Having successfully assisted our overseas customers in eliminating
account takeover fraud, we have set our sights on duplicating the same results here in North America and are confident that our unique approach to authentication, combined with decades of industry expertise, will have a substantial impact on today’s fraud epidemic.”

Entersekt co-founder and Chief Technology Officer Christiaan Brand moved from Cape Town to San Francisco. The company says its Atlanta office will expand its presence from coast to coast.