Nordic digital identify firm Signicat has acquired Strong Customer Authentication (SCA) specialist Encap Security from AllClear ID. Financial terms were not disclosed.
Founded in 2006, Encap Security was spun out from a project by Norwegian banks to create a software-based mobile ID solution.
The firm's SCA platform is used across Europe by clients, especially in financial services, for customer mobile authentication. It now serves millions of end users, facilitating hundreds of millions of transactions annually.
Signicat says the acquisition brings together its expertise in digital identity, onboarding and signing, and Encap’s experience in making authentication convenient and user-friendly.
The move means that Signicat now offers all the technology regulated businesses require to verify, onboard, and authenticate across the entire customer lifecycle, including digital signatures and payment authorisation via mobile — all SCA compliant.
Asger Hattel, CEO, Signicat, says: “This acquisition provides the backbone to our mobile digital identity strategy and establishes Signicat as a mobile identity and authentication powerhouse.”