Nordic digital identity firm Signicat has acquired Strong Customer Authentication (SCA) specialist Encap Security from AllClear ID, though financial terms have not been disclosed.
Founded in 2006, Encap Security originated from a project by Norwegian banks aimed at developing a software-based mobile ID solution. The company’s SCA platform is utilized across Europe, particularly by clients in the financial services sector, for customer mobile authentication. Currently, it supports millions of end users, enabling hundreds of millions of transactions each year.
This acquisition allows Signicat to combine its knowledge in digital identity, onboarding, and signing with Encap’s focus on creating user-friendly authentication solutions. As a result, Signicat can now provide the full range of technologies that regulated businesses need to verify, onboard, and authenticate customers throughout their entire lifecycle, including digital signatures and payment authorization through mobile devices— all compliant with SCA regulations.
Asger Hattel, CEO of Signicat, stated, “This acquisition provides the backbone to our mobile digital identity strategy and establishes Signicat as a mobile identity and authentication powerhouse.”