BioCatch has elaborated on the nature of its new partnership with Entersekt, taking to its blog to explain how the two companies are working together to improve the mobile banking experience. The company noted that while digital banking apps need to be just as engaging as consumer apps, they also face higher scrutiny and need to comply with strict regulations like PSD2 and GDPR.
The alliance with Entersekt offers a solution to both problems. As a mobile-first platform, Entersekt uses public key infrastructure and digital certificates to make any smartphone a trusted device, which is to say that it knows you own your smartphone. Meanwhile, BioCatch builds a unique profile based on user behavior and creates a risk score for every transaction.
Together, the two platforms offer frictionless password-free authentication. With Entersekt, your device becomes a reliable indicator of “what you have,” while BioCatch’s behavioral biometric profile offers verification based on “who you are.”
In practice, that means that your phone can tell when you’re the one tapping the screen. If the risk score is low, you can make a transaction without any password or other form of two-factor authentication as long as you’re using your Entersekt-approved device. A moderate risk score will trigger an additional authentication request. In the case of a high risk score, Entersekt will step in and fully block the transaction.
April 9, 2019 – by Eric Weiss