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Entersekt acquires Modirum

Tuesday 12 December 2023 12:15 CET | News

Entersekt has announced it has acquired the Modirum 3-D Secure software business from Modirum, a digital payment security provider. 

 

Modirum’s cloud-based 3-D Secure technologies and services authenticate digital payment transactions globally in numerous payment systems, hundreds of issuers, and thousands of merchants, as well as enable 3DS transactions for hundreds of millions of cardholders. With this acquisition, Entersekt will expand its customer base and will secure over 2.5 billion transactions per year, giving it a global footprint and a clear technology advantage of a solution spanning across digital, payment and data channels of issuers, acquirers, and merchants.

Entersekt has announced it has acquired the Modirum 3-D Secure software business from Modirum, a digital payment security provider.

 

The combination of Entersekt’s authentication capabilities with Modirum’s 3DS products aims to provide consumers with a consistent, cross-channel user experience and protection against the latest fraud schemes. 

The combined capabilities of Entersekt and Modirum will offer a wider set of solutions and provide customers with more data sources to use when protecting against fraud. At the same time, Entersekt is expanding the types of markets and customers it can serve, enabling them to scale globally. 

Entersekt will add Modirum’s 3DS solutions to its Entersekt Secure Platform for transaction authentication, and the Modirum 3DS team will join the company. The acquisition accelerates product development and expands Entersekt’s existing product offering.  Modirum also brings a list of customers that increases Entersekt’s market share of financial institutions offering 3DS. The combined offering becomes an advanced solution available for financial institutions on the market, providing Context Aware™ Authentication that protects digital payment transactions against continuously evolving fraud threats. 

With Entersekt’s customer and digital transaction authentication solutions, financial institutions can: 

  • Increase their revenue with higher transaction success rates; 

  • Reduce risk and fraud by replacing outdated one-time passcodes with passwordless alternatives; 

  • Save on costs by reducing unnecessary contact centre activity and avoiding non-compliance fees; 

  • Expand and retain their customer base with optimal, personalised user experiences that ensure trust.

Standard Bank South Africa’s Corporate and Investment Banking Division played a key role in Entersekt’s acquisition of the Modirum 3DS business as the sole mandated lead arranger for the debt portion of the deal. 

About Entersekt 

Entersekt, the financial authentication company, ensures that digital financial transactions are secure and free from unnecessary friction. The company provides a single, cross-channel platform for financial services institutions to meet authentication requirements and optimise user experiences. With a range of options available for deployment and configuration, Entersekt’s solutions are fully customisable across all channels and devices. 

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Keywords: 3-D Secure, online security, financial services, digital payments, acquisition
Categories: Fraud & Financial Crime
Companies: ENTERSEKT, Modirum
Countries: World
This article is part of category

Fraud & Financial Crime

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ENTERSEKT

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Modirum

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