Entersekt, founded in 2008, has established itself as a global leader in mobile authentication, mobile app security, and payments enablement technology, particularly for financial institutions. Over the past 15 years, the company has focused on several key aspects of its business model and growth strategies, driving significant expansion and market presence.
Business Model
Innovative Authentication Technology
Entersekt has pioneered advanced technologies like Context Aware™ Authentication, a cross-channel solution that provides real-time transaction security for financial institutions and their customers.
This innovation is central to Entersekt’s value proposition, enabling secure, seamless, and user-friendly authentication processes across various digital channels. The company holds over 60 registered patents, underscoring its commitment to innovation in digital security, payments, and enhancing the user experience.
Expanding Customer Base
Entersekt has successfully expanded its customer base, now securing over 2.5 billion transactions annually and protecting nearly 900 banks, credit unions, payment processors, and card networks worldwide. A key milestone in this expansion was the acquisition of Modirum’s 3-D Secure software business in 2023, positioning Entersekt among the top five 3-D Secure solution providers globally.
Strategic Partnerships
Strategic partnerships have been a cornerstone of Entersekt’s growth. Collaborations with industry leaders like Mastercard, eBankIT, and Q2 Innovation Studio have facilitated Entersekt’s entry into new markets and bolstered its product offerings. Notably, the partnership with Mastercard involves Entersekt playing a crucial role in Mastercard’s Scam Protect initiative, aimed at identifying and preventing payment scams, further solidifying Entersekt’s reputation in the industry.
Funding and Investment
Entersekt’s growth has been fueled by strategic investments, including a significant investment from Accel-KKR in 2021. This investment has supported Entersekt’s continued innovation in the global authentication market, enabling the company to scale its operations and technology offerings.
Accel-KKR, recognized as a top private equity firm, has provided the financial backing and industry expertise necessary for Entersekt’s ambitious growth plans.
Talent Acquisition and Leadership
To support its expansion, Entersekt has invested in talent acquisition, growing its workforce to over 300 employees globally. The company has brought on board key figures like Tina Williams as Chief Operating Officer in 2024 to enhance the customer success function.
Additionally, Entersekt has strengthened its Board of Directors with industry veterans such as former Cardinal Commerce CEO Tim Sherwin and former Acumatica CEO Jon Roskill, ensuring strong leadership and strategic guidance.
Conclusion
Entersekt’s growth from a startup in 2008 to a global leader in financial authentication solutions is a testament to its focus on innovative technology, strategic partnerships, robust funding, and talent acquisition.
By continually evolving its business model and leveraging these growth strategies, Entersekt has secured a strong position in the competitive financial technology landscape.