{"id":3533,"date":"2023-12-12T12:30:58","date_gmt":"2023-12-12T10:30:58","guid":{"rendered":"https:\/\/www.modirum.com\/?p=3533"},"modified":"2023-12-12T13:06:06","modified_gmt":"2023-12-12T11:06:06","slug":"entersekt-acquires-modirum-3-d-secure-payment-solutions-to-accelerate-global-expansion","status":"publish","type":"post","link":"https:\/\/www.modirum.com\/entersekt-acquires-modirum-3-d-secure-payment-solutions-to-accelerate-global-expansion\/","title":{"rendered":"Entersekt Acquires Modirum 3-D Secure Payment Solutions to Accelerate Global Expansion"},"content":{"rendered":"
Atlanta, GA, Tallinn Estonia, December 12, 2023 –\u00a0<\/strong>Entersekt, the financial authentication company, today announced it has acquired the Modirum 3-D Secure software business from Modirum, a digital payment security provider.<\/p>\n Modirum is a leader in enabling authenticated, card-not-present payments with a history dating back 25 years. Modirum\u2019s cloud-based 3-D Secure (3DS) 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 compelling global footprint and a clear technology advantage of a solution spanning across digital, payment and data channels of issuers, acquirers, and merchants.<\/p>\n “Financial institutions are fighting to stay ahead of fraud threats, and are dependent on disparate, siloed authentication tools used for various banking channels \u2013 resulting in inconsistent user experiences and vulnerabilities in their fraud prevention strategies,\u201d said Julie Conroy, Chief Insights Officer at Datos Insights.<\/p>\n \u201cThe combination of Entersekt\u2019s authentication capabilities with Modirum\u2019s 3DS products promises to provide consumers with a consistent, cross-channel user experience and powerful protection against the latest fraud schemes.”<\/p><\/blockquote>\n \u201cThe combined capabilities of Entersekt and Modirum will allow us to offer a wider set of solutions and provide our customers with more data sources to use when protecting against fraud,\u201d said Schalk Nolte, co-founder and CEO at Entersekt.<\/p>\n \u201cAt the same time, we are expanding the types of markets and customers we can serve, enabling us to scale globally and grow faster. Entersekt is how the financial world can access one cross-channel platform for secure, frictionless, Context Aware\u2122 Authentication of customers and payments alike.\u201d<\/p><\/blockquote>\n Entersekt will add Modirum\u2019s 3DS solutions to its Entersekt Secure Platform for transaction authentication, and the Modirum 3DS team will join the company. The acquisition accelerates product development, expands Entersekt\u2019s existing product offering and bolsters the company\u2019s ability to scale and support customers around the world, while adding a highly skilled team. Modirum also brings an impressive list of customers that increases Entersekt\u2019s market share of financial institutions offering 3DS.\u00a0The combined offering becomes the most advanced solution available for financial institutions on the market today, providing Context Aware\u2122 Authentication that protects digital payment transactions against continuously evolving fraud threats.<\/p>\n For 13 years, Entersekt has helped financial institutions reduce fraud losses, grow revenue, maintain regulatory compliance, and deliver better customer experiences. With Entersekt\u2019s customer and digital transaction authentication solutions, financial institutions can:<\/p>\n Modirum was founded in 1997 by CEO Jari Heikkinen and other founding partners. Headquartered in Tallinn, Estonia, Modirum has staff across 18 countries worldwide. With a global presence spanning over 50 countries, Modirum\u2019s solutions are utilized by more than 100,000 merchants, hundreds of card issuer banks, and over 100 million cardholders. Processing over 2 million transactions daily through its own data centers, Modirum has a strong presence in Northern Europe and enables secure payments for millions of customers daily.<\/p>\n \u201cWe are pleased to align our 3DS solution and talented team under one unified brand, Entersekt, to meet the market\u2019s growing demand for an integrated digital payment security platform,\u201d said Modirum CEO Jari Heikkinen. \u201cWhile major players in this industry focus on either online payment or customer authentication, Entersekt delivers amplified strengths in both areas through a single offering. By converging these key fraud prevention capabilities and breaking down silos, Entersekt enables higher transaction success rates, reduced false declines, and less fraud for financial institutions, and an improved experience for consumers overall.\u201d<\/p><\/blockquote>\n Standard Bank South Africa\u2019s Corporate and Investment Banking Division played a key role in Entersekt\u2019s strategic acquisition of the Modirum 3DS business as the sole mandated lead arranger for the debt portion of the deal. This transaction aligns with Standard Bank\u2019s strategy to support businesses to scale globally.<\/p>\n 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 optimize user experiences. With a range of options available for deployment and configuration, Entersekt\u2019s solutions are fully customizable across all channels and devices. A strong track record of over ten years working with leading financial services institutions across the United States, Europe, and Africa, combined with multiple patented security innovations, has established Entersekt as a global industry leader in authentication. Backed by companies like Silicon Valley-based Accel-KKR, one of the world\u2019s top private equity firms, Entersekt continues to expand its footprint across key regions. For more information, visit\u00a0entersekt.com<\/a>.<\/p>\n Modirum is a global technology leader delivering innovative digital solutions and services, across diverse industries. We empower our customers in fintech, banking, defense, aerospace, governments, and beyond to boost complex challenges, reduce costs, optimize operations, and drive growth in the increasingly competitive global market. \u00a0Founded in Helsinki in 1997, Modirum initially operated as a consulting company in financial services.\u00a0For over two decades, Modirum remained dedicated to payment authentication solutions, until the strategic shift to focus on its three domains of business: Professional Services, Security Technologies, and Fintech Consultancy, while expanding its scope into the broader landscape of payment and security technology.<\/p>\n Our journey reflects our steadfast commitment to innovation and technological advancement in the fields of fintech, mission-critical imaging in government operations, cybersecurity services, software development, and cloud services. Trusted by government operations, leading businesses, and Fortune 500 companies, our software products drive innovation and transformation for our clients worldwide. Visit www.modirum.com<\/a> for more information.<\/p>\n Vlado Galevski<\/p>\n Chief Market Officer, Modirum Group<\/p>\n\n
About Entersekt<\/strong><\/h4>\n
About Modirum<\/strong><\/h4>\n
Media contacts <\/strong><\/h4>\n