Case Study: Capitec Bank achieves secure, convenient mobile banking with Entersekt Transakt

Capitec Bank balances security with convenience using Transakt

Capitec Bank, a South African retail bank, wanted to keep mobile at the center of its growth strategy while making online banking more secure, convenient, and cost-effective. Its existing hardware-token-based OTP authentication was expensive, inconvenient, and increasingly vulnerable to phishing and man-in-the-middle attacks, so it turned to Entersekt and its Transakt authentication technology.

Entersekt implemented an intuitive “Accept/Reject” mobile authentication experience using Transakt, later extending it with the Transakt SDK for Capitec’s remote banking app. The solution replaced OTPs, used device-bound X.509 certificates and out-of-band communication to reduce fraud risk, and helped Capitec scale digital banking rapidly; remote banking grew 46% year over year to 728 million transactions, customer satisfaction reached 90%, and the bank’s market share rose from 2% in 2007 to 25% in 2017.

Capitec Bank

Carl Fischer

Executive Marketing and Corporate Affairs