Stellenbosch based Entersekt, a mobile technology company offering banks an innovative solution for secure online and mobile banking, announced that Nedbank has implemented their interactive transaction authentication (“ITA”) system in their recently released “Approve-itTM” product which will provide greater protection against online fraud for their customers.
Schalk Nolte, CEO of Entersekt says: “Banks worldwide are recognizing the value of using mobile devices as an additional security device for online banking. However most banks currently send “one time passwords” (OTPs) by sms to their customers who wish to execute sensitive online transactions. The weakness in this system is that the customer is then required to enter the OTP onto the Bank’s online site.
- Published: 27 March 2012
- Written by NStinchcombe