Fintech industry veteran augments company mission to help drive financial fraud prevention strategy
Menlo Park, CA & Atlanta, GA – April 09, 2024 – Accel-KKR, a technology-focused private equity firm, today announced the appointment of Tim Sherwin, former CEO and Co-founder of Cardinal Commerce, to portfolio company Entersekt’s board of directors. Entersekt, The Financial Authentication Company, provides financial institutions around the world with digital banking fraud prevention and payment security solutions.
As former CEO and Co-founder of Cardinal Commerce, Mr. Sherwin led the company for over two decades, guiding it to a successful acquisition by Visa, Inc. in 2016. He now brings that executive and advisory experience in the payment fraud prevention space to the Entersekt board as the company continues to introduce advanced digital banking and payment authentication solutions to market. This board appointment follows Entersekt’s recent acquisition of Modirum 3D Secure solutions in December 2023. Entersekt now secures over 2.5 billion transactions per year, giving it a compelling global footprint and a clear technology advantage with a solution spanning across digital, payment, and data channels of issuers, acquirers, and merchants.
“We are thrilled to welcome Tim to the Entersekt board,” said Joe Porten, Managing Director at Accel-KKR. “Entersekt is executing on an aggressive growth and expansion strategy, and Tim’s hands-on experience leading a highly successful company directly [in the same fintech space as Entersekt] will be tremendously valuable.”
“Coming directly from the payments space, I’ve seen the growth of financial fraud and know what financial institutions need to protect themselves and their customers. Entersekt’s solutions directly address those needs,” added Sherwin. I’ve been impressed with the company’s innovative technologies, strategic partners, and strong executive leadership, and look forward to helping Entersekt in its next phase of growth.”
“Entersekt’s solutions address critical market needs among financial institutions around the world, for digital banking fraud prevention and payment security,” said Schalk Nolte, CEO of Entersekt. “The addition of a proven industry expert in Tim Sherwin to the company board will provide valuable guidance on how to capitalize on the market opportunities ahead.”
About Entersekt
Entersekt, The Financial Authentication Company, provides financial institutions with digital banking fraud prevention and payment security solutions through its cross-channel, Context Aware™ Authentication platform that secures digital transactions and optimizes user experiences. Founded in 2010, Entersekt serves financial institutions around the world, and holds 120+ patents for its security innovations. In 2023, Entersekt acquired Modirum, a 3-D Secure solutions provider, positioning Entersekt as a global industry leader in authentication solutions for financial services. Entersekt processes 2.5bn+ transactions for 250m+ cardholders and 450,000+ merchants from 850 banks+ in nearly 70 countries. Backed by companies like Silicon Valley-based Accel-KKR, one of the world’s top private equity firms, Entersekt continues to expand its footprint across key regions. For more information, visit entersekt.com.
