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The Signicat Blog

Signicat and Knowit accelerate digital loan applications and payments processes to under 10 mins

The digital lending market is projected to grow to $17 billion by 2025

Signicat, the Trusted Digital Identity™ company and Knowit, a consultancy firm specialising in IT solutions have partnered to expand Dploy, a self-service platform for the management of loan applications. The partnership will extend Dploy’s success and reach in the Nordics where over 2000 applications go through Dploy’s systems every day, with over NOK 500 billion in consumer lending yearly.

Dploy is a self-service platform that accelerates the loan application process for prospective lenders and the loan management process for businesses. The Dploy platform automates each step of the loan process from verifying the identity of a new customer, conducting appropriate due diligence and credit checks, to electronically signing the loan agreement, and ensuring secure disbursements of payments. As a result, Dploy can disburse loan payments in seconds and significantly reduce operational costs for businesses.

With Signicat’s identity verification capabilities and Knowit’s strategic engagement and expertise in the digital lending market, the joint solution will enable a frictionless customer experience whilst also reducing the risk of fraud through easily validating prospective customer identities.

The self-service technology can be integrated into business’ existing infrastructure and the user interface adapted to meet business’s specific needs. Dploy also enables a fully automated personal credit assessment, cutting costs and improving the quality of the assessment.

“We have witnessed the need for digital services has never been more pertinent than it is today. In the Nordics it has taken over a decade to reach the digital maturity we currently have where we now can offer customers speed through a streamlined digital onboarding experience while remaining compliant with regulations and reducing the risk of fraud.” states Asger Hattel, CEO of Signicat. “By partnering with other IT pioneers, we are able to accelerate our digital trust agenda across services and markets supporting both businesses and their customers alike.”  

“Knowit has vast experience guiding businesses through their digital transformation processes and ensuring they have flexible, effortless solutions that meet the needs of their consumers” said Rune Ivarsflaten CEO, Knowit. “Hundreds of dealers, some of the largest car financing companies, as well as some of the largest banks in the Nordics use Dploy and we are beginning to see its popularity grow in several other markets. This is a testament to the success and growth of fully digitised lending”.