Entersekt, the Financial Authentication Company, has successfully acquired the Modirum 3-D Secure software business from Modirum, a leading digital payment security provider. With a history spanning 25 years, Modirum has been a pioneer in facilitating authenticated, card-not-present payments. Its cloud-based 3-D Secure (3DS) technologies and services authenticate digital payment transactions globally, serving numerous payment systems, hundreds of issuers, and thousands of merchants.
The acquisition positions Entersekt to broaden its customer base and secure over 2.5 billion transactions annually, establishing a compelling global footprint and a technological advantage that spans digital, payment, and data channels of issuers, acquirers, and merchants. The collaboration aims to provide consumers with a consistent, cross-channel user experience and robust protection against the latest fraud schemes.
According to Julie Conroy, Chief Insights Officer at Datos Insights, “The combination of Entersekt’s authentication capabilities with Modirum’s 3DS products promises to provide consumers with a consistent, cross-channel user experience and powerful protection against the latest fraud schemes.”
Schalk Nolte, co-founder and CEO at Entersekt, expressed enthusiasm about the collaboration, stating, “The 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.”
Entersekt will integrate Modirum’s 3DS solutions into its Entersekt Secure Platform for transaction authentication, and the Modirum 3DS team will join the company. The strategic acquisition is expected to accelerate product development, expand Entersekt’s existing product offering, and enhance its ability to scale and support customers globally. Modirum brings a wealth of expertise and an impressive customer base, consolidating Entersekt’s market share in financial institutions offering 3-D Secure.
Jari Heikkinen, CEO of Modirum, commented on the alignment of the 3DS solution and talented team under the unified brand, Entersekt, to meet the growing market demand for an integrated digital payment security platform.
Entersekt, with its proven track record in helping financial institutions reduce fraud losses, increase revenue, and deliver better customer experiences, aims to provide Context Aware™ Authentication that protects digital payment transactions against evolving fraud threats. The collaboration creates a comprehensive and advanced solution for financial institutions, ensuring higher transaction success rates, reduced false declines, and enhanced fraud prevention. The acquisition was facilitated with the support of Standard Bank South Africa’s Corporate and Investment Banking Division, aligning with Standard Bank’s strategy to support businesses in scaling globally.
