Norwegian digital identity specialist Signicat has bought customer authentication compatriot Encap Security for an undisclosed fee.
Founded in 2007, Signicat markets a digital identity platform that incorporates an extensive suite through a single integration point. The platform supports the full journey from recognition and on-boarding through to login and consent and to making business agreements.
Encap was launched in 2006 following a spin-off from some Norwegian banks. The firm claims it is trusted by major banking institutions and national identity schemes as a single solution for customer mobile authentication and security, for all digital use cases and across all channels.
According to Signicat, Encap brings a mobile app-based authentication solution that will allow it to offer PSD2 Strong Customer Authentication (SCA) across the full customer lifecycle.
Signicat CEO Asger Hattel said, “This acquisition provides the backbone to our mobile digital identity strategy and establishes Signicat as a mobile identity and authentication powerhouse.”
Encap CEO Johan Sörmling added, “With firms across Europe looking to mitigate the impact of SCA regulation on the customer experience, we believe we have the right proposition at the right time.”
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst