Signicat has acquired Strong Customer Authentication (SCA) specialist Encap Security from AllClear ID. With Encap’s secure mobile app-based authentication solution, Signicat ensures SCA compliance across the full customer lifecycle.
The acquisition creates a company with unparalleled breadth in identity and authentication, establishing Signicat as a mobile identity and authentication powerhouse, according to the press release.
Encap Security is the leader in high-security app-based mobile authentication, its 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.
Today Encap serves millions of end users, facilitating hundreds of millions of transactions annually, with many of the largest service providers in the financial industry in the Nordics and EU among its customers.
“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,” says 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’s technology looks beyond compliance and uses authentication to improve – rather than inhibit – the customer experience and deliver value to end customers. 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.