The combo with Sphonic will make the pan-Ecu virtual identification specialist higher in a position to offer protection to banks and different shoppers towards fraud, economic crime, and cash laundering. The purchase creates one of the vital most powerful identification ecosystems globally.
Trondheim, Norway and London April 26, 2022 – Signicat, considered one of Europe’s main suppliers of virtual identification and digital signature answers, is obtaining all stocks within the UK-headquartered anti-fraud corporate Sphonic for an undisclosed sum. Present control shareholders will reinvest a considerable a part of the respect into Signicat.
Signicat acquires Sphonic
Signicat has been rising hastily within the closing years, each organically and thru acquisitions. The virtual identification pioneer objectives to be a unmarried supplier for all of the virtual identification and anti-financial crime lifecycle throughout Europe. This contains identification answers to strengthen buyer onboarding, authentication, e-signing, fraud control and possibility control. Since 2019 Signicat has bought 5 firms, together with within the closing 12 months cell authentication corporate Encap, digital signing supplier Dokobit, and identification proofing innovator Digital IDentification.
Sphonic used to be based in London in 2012 and is a pioneer in automating compliance resolution processes. The corporate has a novel observe document of serving to economic services and products, fintechs, gaming operators and the bills ecosystem organize their shopper onboardings and possibility tests together with actions comparable to credit score exams, affordability exams, and different compliance exams. With this acquisition, Signicat will have the ability to prolong its main current identification platform with Sphonic’s know your buyer (KYC), know what you are promoting (KYB) and anti-money laundering (AML) answers.
“With virtual fraud proceeding to upward thrust globally, it has develop into vital to understand that your shoppers are who they declare to be. With Sphonic’s main workforce of pros and their information orchestration and decisioning platform, we will be offering a extra intensive vary of onboarding services and products with extremely versatile possibility and compliance answers – all of which is able to stay world shoppers secure from fraud,” says Asger Hattel, CEO of Signicat.
Sphonic’s number one product, Workflow Supervisor, allows shoppers to customize, automate and organize compliance workflows seamlessly. Sphonic leverages round 100 of the arena’s main information and era suppliers permitting banks and different establishments to get right of entry to the best-in-breed applied sciences by the use of a unmarried API. The answer improves the standard of knowledge and will increase end-user insights that the shoppers can use to make an onboarding resolution. It additionally reduces a shopper’s buyer onboarding time from days to seconds and forestalls buyer drop-off charges. It prevents fraud and offers an enjoy are compatible for the virtual age.
Sphonic has not too long ago expanded its answer providing with a extremely scalable real-time fraud & AML transaction tracking answer along with a case control device that still provides equipment for visualising identification, fraud and AML information.
“We’re excited to develop into a part of the Signicat circle of relatives” says Andy Lee, the founder and normal supervisor of Sphonic. “For the previous 10 years we now have constructed industry-leading answers that resolve probably the most most complicated onboarding and compliance demanding situations in closely regulated industries for world virtual bills, crypto, gaming and lending manufacturers requiring fast onboarding for his or her high-volume shopper base. With Signicat there used to be a perfect complementary are compatible. Now we’re in a position to boost up our ambitions in new markets and verticals and making a compelling joint world answer.”
Sphonic will proceed as a separate industry entity, named “Sphonic, a Signicat corporate”, for the quick time period, after which be totally built-in into Signicat. The Sphonic control workforce will shape a part of Signicat’s wider senior control workforce and Andy Lee will even take at the position as Signiant’s Signicat’s UK Nation Supervisor.
About Sphonic
Sphonic is the buying and selling title of Symphonic Answers Restricted, a London-Based totally RegTech industry established in 2012 to increase and release its preliminary product Workflow Supervisor. With the expansion in virtual trade, along expanding considerations round economic legislation and client safety, Sphonic has created a collection of goods to make sure its shoppers reach the fitting stability in coverage and buyer enjoy. Workflow Supervisor allows get right of entry to to inventions from round 100 main distributors in spaces comparable to World Identification & Trade Verification, PEPs & Sanctions Information, Software Fingerprinting, Cellular Profiling, Electronic mail Verification, Geo-Location, Behavioural Biometrics and plenty of others thru its agnostic platform. Extra not too long ago Sphonic advanced a real-time Transaction Tracking device to spot Fraud, AML & Affordability (for Gaming & BNPL), which provides an end-to-end virtual possibility platform to its shopper base. Sphonic has 24 workers founded in the United Kingdom and Portugal. For additional details about Sphonic, please consult with www.sphonic.com.
About Signicat
Signicat is a pioneering, pan-Ecu virtual identification corporate with an unrivalled observe document on the planet’s maximum complex virtual identification markets. Its Virtual Identification Platform comprises probably the most intensive suite of identification proofing and authentication programs on the planet, all obtainable thru a unmarried integration level. The platform helps the entire identification adventure, from reputation and on-boarding, thru login and consent, to creating industry agreements which stand the take a look at of time. Signicat used to be based in 2006 and bought via main Ecu personal fairness investor Nordic Capital in 2019. It’s headquartered in Trondheim, Norway.
For additional details about Signicat, please consult with www.signicat.com.
