ATLANTA -- (BUSINESS WIRE) -- Entersekt, an innovator in transaction authentication technology, has been included as an honorable mention in the 2013 Gartner Magic Quadrant report on User Authentication.
The Magic Quadrant provides a qualitative analysis of a large number of technology industries. According to Gartner, the authentication market represents a $2.2 billion industry for 2013. Gartner also predicts that, by the end of 2016, about 30 percent of enterprises will have chosen cloud-based services as the delivery option for new or refreshed user authentication implementations, a 10 percent increase over current figures.
“We believe being listed as an honorable mention in the 2013 Gartner Magic Quadrant is a testament to Entersekt’s proven products and services, and solidifies our position as a viable alternative within the user authentication industry,” said Christiaan Brand, chief technology officer of Entersekt. “We are honored to be included in the report, along with, in our view, some of today’s most prestigious technology providers. It spurs us as we plan for accelerated growth in the coming year.”
The User Authentication category is one of the more mature markets Gartner studies, boasting several vendors with longstanding product offerings. New authentication technologies, however, continue to emerge. As part of its 2013 industry study with Harris Interactive, Entersekt noted that almost six in ten (58 percent) of U.S. adults polled would be at least somewhat willing to take an active role in securing their accounts, if it meant using their mobile phones to safely verify their actions online, such as logins, purchases, transfers or bill payments.
Entersekt utilizes out-of-band communication and two-factor authentication to provide banks and banking customers with greater protection against a wide range of fraudulent schemes. Leveraging the customer’s mobile phone to enable one-touch approval or rejection of potential transactions, Entersekt removes the need for expensive hardware tokens and cumbersome one-time passwords. It has fully eliminated online banking fraud at institutions deploying the company’s Transakt product.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Entersekt is an innovative pioneer in transaction authentication. The company’s one-of-a-kind approach combines the power of electronic certificate technology (PKI) with the convenience of mobile phones and encrypted cloud messaging to provide financial institutions and their customers with full protection from online banking fraud. With its patented security products authenticating millions of transactions globally, none of Entersekt’s clients have experienced a successful phishing attack on their systems since implementing the company’s technology. Financial institutions worldwide look to Entersekt to strengthen the all-important bond of trust they share with their customers, and to build on those relationships by introducing increasingly innovative mobile and online banking services. For more information on Entersekt, visit www.entersekt.com.