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Signicat acquires SCA specialist Encap Security from AllClear ID

By Megha Bhattacharya

June 02, 2021

  • America
  • Signicat

Signicat today has acquired Strong Customer Authentication (SCA) specialist Encap Security from AllClear ID. With Encap’s user-friendly and secure mobile app-based authentication solution, Signicat aims to ensure SCA compliance across the full customer lifecycle. The acquisition brings together Signicat’s expertise in digital identity, onboarding and signing, and Encap’s experience in making authentication convenient and user-friendly. Signicat now offers all the technology regulated businesses require on a global basis to successfully verify, onboard, and authenticate across the entire customer lifecycle, including digital signatures and payment authorisation via mobile—all compliant to the demands of PSD2 SCA.

“Encap Security was ahead of its time when it was founded, providing mobile-first authentication even before smartphones were mainstream—and it has retained this advantage ever since. Together, our passwordless solution provides consumers and businesses with exceptional ease-of-use while protecting them from risk and fraud,” stated Asger Hattel, CEO of Signicat. “This acquisition provides the backbone to our mobile digital identity strategy and establishes Signicat as a mobile identity and authentication powerhouse.”

Encap Security offers high-security app-based mobile authentication. It was founded in 2006, spun out from a project by Norwegian banks to create a ground-breaking software-based mobile ID solution. Encap’s SCA platform is used across Europe by clients in regulated markets, especially financial services, for customer mobile authentication and security for all digital use cases and across all channels. Its Anonymous ID service allows end-users to pause the onboarding process and return later, reducing abandonment, while Recovery of Authentication Profiles makes moving from an old to a new device simple.

“Signicat and Encap Security share much more than our Norwegian roots,” said Johan Sörmling, CEO, Encap Security. “We look to provide our customers with the very best user experience without compromising on security. 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.”

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