Signicat, a verified digital identity solution builder, has acquired secure identification and electronic signature company Idfy.
The deal sees Signicat acquire 100 per cent of Idfy shares, and a ‘substantial reinvestment’ in the combined company. In acquiring Idfy, Signicat enhances its reach and portfolio of services, it said.
Norway-based Idfy lets companies and institutions implement fraud detection and risk-free onboarding solutions. It provides API-based ‘building blocks’ for developers to add secure authentication, signing and sealing to web and mobile applications.
Companies across the financial services, insurance, recruitment, on-demand economy, and P2P marketplaces, utilise the Idfy solution for customer authentication.
Signicat CEO Gunnar Nordseth said, “With the acquisition of Idfy, we strengthen our ability to execute faster and deliver better digital identity solutions to the market. Idfy has a strong, driven team of digital identity experts that we look forward to welcoming into Signicat.
“Together we can continue in our goal of creating the strongest digital identity solution on the market.”
Signicat is a digital identity platform offering companies electronic signatures, advanced authentication, a digital identity hub, and mobile ID, among other services. Its ID hub is a network of more than 20 electronic IDs, with various verification methods such as document scanning, facial recognition and live video detection.
Earlier in the year, Signicat was acquired by Northern European payments and technology-focused investor Nordic Capital.
Verimi and Signicat recently formed a partnership to create a multi-factor identification and authentication solution. The agreement sees Verimi integrate its identification platform into Signicat’s digital identity hub.
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