Signicat digitises in-store signing of credit agreements for Resurs Bank retail partners

Three in every four in-store credit agreements now signed digitally using electronic IDs

Trondheim, Norway 28th November 2018 Signicat, a leader in verified digital identity solutions, today announced it has been selected by Resurs Bank to provide instant mobile signing of credit agreements. Resurs Bank is the leader in retail finance in the Nordic region with more than 1,000 retail partners, serving more than 35,000 stores.

Customers signing a credit agreement in stores served by Resurs Bank no longer have to sign physical paperwork – instead, they can sign using their eID and create a digital agreement. All paperwork is shared digitally, so in-store purchases of high value items requiring a credit agreement are therefore as fast, secure, and convenient as any online transaction.

The agreement is signed using a combination of Signicat Sign and an approved electronic ID (eID), such as BankID. The customer can easily accept the terms and conditions and sign using their mobile device.

A pilot programme in Sweden was an instant success, with 76% of customers choosing to sign credit agreements using Mobile BankID. The service has now been rolled out to all retailers served by Resurs Bank in Norway, Denmark, Sweden and Finland.

“This technology means that traditional stores can better compete with their online rivals—while they offer superior customer service they need to combine this with the convenience of online shopping,” said Marcus Lennerhov, Product Manager at Resurs Bank. “Thanks to Signicat, the majority of our retail credit agreements are now signed digitally using a mobile device giving customers the security and ease they are used to online.”

“In ditching paper, electronic signatures offer a frictionless and instant customer experience, and gives retailers a trusted and scalable way to deal with growing demand while improving conversion,” said Gunner Nordseth, CEO, Signicat. “Working with Resurs Bank to provide digital signing to over 35,000 stores is another milestone for digital identity in the Nordics, a model for the rest of the world to emulate.”

About Signicat

Based in Trondheim, Norway, and founded in 2007, Signicat operates the largest Digital Identity Hub in the world, offering the only complete identity platform in the market and trusted to reduce the burden of compliance in highly regulated markets.

With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than a burden. By ditching manual, paper based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Signicat’s Identity Hub is a complete solution to that offers compliance and a route to better customer engagement.

Signicat has over 500 financial services organisations as clients, connects to more than 20 schemes globally and verifies more than 10m identities per month.

For more information, visit: https://www.signicat.com/contact/

Media Contacts
CCgroup for Signicat
signicat@ccgrouppr.com
+44 203 824 9200

 

About Resurs Holding:

Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.5 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the second quarter of 2017, the Group had 742 employees and a loan portfolio of SEK 22.3 billion. Resurs is listed on Nasdaq Stockholm, Large Cap.

Press Release: Signicat joins ETSI team guiding digital signature standards

Trondheim, Norway, 27 September 2018Signicat, a leader in trusted digital identity, has joined the European Telecommunications Standards Institute (ETSI), the recognised standards body for electronic communications. As part of the technical committee on Electronic Signatures and Infrastructure (ESI), Signicat will help create and shape the standards for digital signatures and trust services.

ETSI is officially recognised by the EU as one of three European Standards Organisations (ESO), with a focus on broadcasting, telecommunications and other electronic communications networks and services. ETSI produces “harmonised standards” that support European regulation and enable manufacturers and suppliers to prove that their products and services meet these regulations.

ESI is the technical committee responsible for the standardisation of European digital signature and trust services. The standards produced by ESI are designed to meet the demands of eIDAS regulation, ensuring interoperability across borders, and be applicable beyond Europe.

Signicat—already standards-compliant—will be able to share its experience and knowledge of electronic signatures and digital identity to help guide the development of these standards. Currently in development are standards for signature validation services, which specify how a signed document will be sent to a trusted service, returning a signature validation report.

“The work of ETSI, ESI and eIDAS is solving the fragmentation that currently exists across Europe, and will make using digital trust services across the continent simple,” said John Erik Setsaas, VP of Identity and Innovation, Signicat. “Our membership of the technical committee that drives the creation of these standards gives us an opportunity to influence their development, bringing our first-hand experience of creating trust services that work across borders.”

For more detail on the ongoing work of the technical committee and its roadmap, read Signicat’s blog post: https://www.signicat.com/blog/signicat-joins-etsi-for-standardisation-of-digital-signatures-and-trust-services/

About Signicat
Based in Trondheim, Norway, and founded in 2007, Signicat operates the largest Digital Identity Hub in the world, offering the only complete identity platform in the market and trusted to reduce the burden of compliance in highly regulated markets.

With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than a burden. By ditching manual, paper-based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Signicat’s Identity Hub is a complete solution to that offers compliance and a route to better customer engagement.

Signicat has over 400 financial services organisations as clients, connects to more than 20 schemes globally and verifies more than 10m identities per month.

For more information, visit: https://www.signicat.com/contact/

Media Contacts:

CCgroup for Signicat:

Alan Miller, Alice Pedder

Signicat@ccgrouppr.com

As the leading provider of identity services to regulated industries in the Nordics, Signicat has played an important part in this development.

  • European eID schemes provide 69% of ID information needed to digitally apply for financial services
  • 3 European eID schemes provide all the necessary information
  • Digital Identity Service Providers (DISP) are the key to bridging the gap

Oslo, Norway, 22th June 2017 – New research launched today by Signicat, the world’s first and largest identity assurance provider, shows that through electronic identity (eID) schemes in Europe, consumers are closer to being able to apply for financial services 100% digitally, although gaps still exist. The report, “The Rise of Digital Identities”, is based on exclusive Innopay research and looks at how eIDs are currently used to onboard consumers to financial services across seven European countries.

On average, European eID schemes provide 69% of the information that financial institutions need in order to onboard a customer wholly digitally, and three schemes provide all the necessary information. These existing schemes could provide the vital staging point to develop digital identities that enable a truly digital financial services landscape.

Banks are under pressure to reduce costs, increase profits and to comply with ever more stringent regulations. Their customers have, at the same time, moved to embrace digital channels, meaning banks can reduce the number of branches and better target these customers to reduce costs and increase profits. However financial institutions are missing a vital link in the digital chain – onboarding. 40% of consumers have abandoned a bank sign up process because of the time and effort needed. This, combined with the upcoming eIDAS regulation means that financial institutions need to be able to onboard customers 100% digitally.

The paper was developed with research from Innopay, the payments, digital identity and e-business consultant. Innopay surveyed the onboarding landscape across Austria, Belgium, Germany, Luxembourg, The Netherlands, Switzerland and the UK to look at KYC/AML requirements and how available eID schemes map to these requirements. While current schemes do cover the majority of information needed by financial institutions to confirm a prospective customer’s identity, gaps exist.

It found that in Belgium, for example, the eID covers all the necessary attributes but the scheme is only relevant in a consumer-to-government context. In The Netherlands, the bank-operated scheme offers the right coverage but, on its own, won’t satisfy Know Your Customer (KYC) requirements.

To fully verify a customer’s identity, financial institutions must supplement eID information from a variety of sources including national ID schemes, various digital assets and traditional ID documents such as passports. The challenge is that information is not always available, there are inconsistencies across regions and difference stages of onboarding require different levels of assurance, including examination of the physical document. To succeed, institutions must plug the gaps and ensure they have access to the right information in the right geographies.

Gunner Nordseth, CEO at Signicat, said: “As the market becomes more competitive, financial institutions are under increasing pressure to attract and retain more customers but at lower costs. It’s a huge challenge and the old analog process for onboarding has proved cumbersome and outdated. There is enormous scope for digital identities to reduce inefficiencies as well as ease compliance with KYC. But building those identities is a complex task and financial institutions need to create interoperability between regions in a fragmented European landscape.”

Gunnar added: “The real strength lies in combining the various identity information sources to create a complete and validated digital identity. That’s where a digital identity service provider, or DISP, can help. It facilitates connections to the relevant schemes and other forms of verification to build a trusted picture of the customer. Financial institutions can not only comply but also gain a lead in the race to a truly digital future for onboarding.”

– Ends –

About Signicat

Based in Trondheim, Norway, and founded in 2007, Signicat is the first and largest Identity Assurance Provider in the world, providing regulated markets with the technology to create mutual trust between organizations and their potential customers.

With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than an obstacle. By ditching manual, paper based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Service providers can rapidly grow market share, easily acquire new customers, and ensure compliance with financial, privacy and data protection regulations including AML and KYC.

Signicat has the technology to connect the market, the expertise to scale the systems, and the experience to build the trust.

For more information, visit: www.signicat.com

Media Contacts
CCgroup for Signicat
signicat@ccgrouppr.com
+44 203 824 9200

Download your free copy of Signicats report, “The Rise of Digital Identities” based on exclusive Innopay research.

Please fill in the form below to get your free copy.

 

Press Release: Signicat launches MobileID authentication to meet PSD2 requirements

ID assurance provider now offers multiple authentication methods – including biometric

Oslo, Norway, 30 May 2017Signicat, the first and largest identity assurance provider in the world, has launched MobileID, its mobile authentication product. In addition to offering financial service providers speedy onboarding and identity assurance using a number of digital identity schemes, Signicat now also offers Strong Customer Authentication (SCA) using the end-user’s smart device.

Upcoming PSD2 legislation will demand that many transactions over €30 must be authorized with at least two-factor authentication. MobileID will put financial services providers ahead of this legislation, not only by offering multi-factor authentication, but offering it in a way that is convenient to consumers and will not result in abandonment.

MobileID works by turning a consumer smart device into a security credential. The device becomes the ‘something you have’ factor for authentication, while a PIN code becomes the ‘something you know’ and biometric data such as fingerprints can be used as a third ‘something you are’ factor.

MobileID allows banks and other financial service providers to offer multi-factor authentication without the need to provision additional hardware or demand that customers copy and paste a one-time password from an SMS or a separate application. Instead MobileID harnesses smart device capabilities, including the latest biometrics, to deliver simple but secure access to digital channels.

“A speedy onboarding and application experience is a must for financial services providers who don’t want to lose 40% of their potential customers at this stage,” said Gunnar Nordseth, CEO, Signicat. “Keeping these customers means giving them the best experience possible when accessing services and authorizing transactions – MobileID gives customers that simple experience while meeting PSD2 requirements way ahead of these regulations being adopted.”

MobileID’s features include:

  • Device agnostic, with support for both the latest iOS and Android devices
  • The ability to add existing and future device-based authentication technologies
  • Device and user intelligence, including geolocation, for risk-based authentication
  • An offline mode so the smart device can be used to authenticate without a data connection
  • Defenses against jailbroken devices and debugging attempts

-ENDS-

About Signicat

Based in Trondheim, Norway, and founded in 2007, Signicat is the first and largest Identity Assurance Provider in the world, providing regulated markets with the technology to create mutual trust between organizations and their potential customers.

With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than an obstacle. By ditching manual, paper based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Service providers can rapidly grow market share, easily acquire new customers, and ensure compliance with financial, privacy and data protection regulations including AML and KYC.

Signicat has the technology to connect the market, the expertise to scale the systems, and the experience to build the trust.

For more information, visit: www.signicat.com

Media Contacts
CCgroup for Signicat
signicat@ccgrouppr.com
+44 203 824 9200

 

For more information about MobileID, visit: MobileID

signicat rabobank

Press Release: Rabobank and Signicat launch Digital Identity Service Provider (DISP)

Rabobank and Signicat are entering the Dutch identity market together by providing digital services to businesses, supporting them in servicing their clients.

This joint Digital Identity Service Provider (DISP) offers a range of online login, identity, signature and archiving solutions under the banner of Rabo eBusiness. It provides optimal convenience for a range of businesses, including insurance, energy and leasing companies as well as other financial services providers. It simplifies and improves the digital transformation they are under pressure to achieve.

Rabo eBusiness helps businesses to shape their online services in an easier, more reliable and efficient way to achieve higher online conversion. Consumers can log onto the merchant’s website using one of the identity services provided by Rabo eBusiness and can then, for example, sign a contract online. The platform is easy to integrate into the existing business processes using API technology.

Rabobank will initially focus on five customer groups: energy, telecom and insurance companies, healthcare institutions and financial services providers. Rabo eBusiness services will make it easy for them to enable functions such as onboarding new customers, signing contracts digitally and offering a dashboard for invoices or expense claims.
The market for DISPs opened on 1st April 2017 within the framework of iDIN.

Alexander Zwart, responsible for Online Channels & Access at Rabobank, explains that Rabobank already has a good starting position, having: ‘Advisory skills, a large market share in the business market, operational services and a mature salesforce. In order to be able to offer technology and a high-quality and safe range of products, we have opted not to develop it ourselves, but instead to collaborate with a well-established strategic player. Signicat has a proven Digital Identity Service platform that is considered leading in the Nordics, a mature digital identity market.’

Signicat in turn wants to expand its presence in the Dutch market. Gunnar Nordseth, Chief Executive Officer of Signicat: ‘We have been operating for some time as an identity service provider in the Nordics and are currently expanding into other parts of Europe. The Netherlands is a strategically important market for us and a European hub that has great potential for digital identity, signature and archiving services. Collaborating with an innovative bank such as Rabobank gives us the opportunity to fulfil our ambition.’

The platform has been designed to grow in tandem with market demands and can consequently be expanded to include additional services. This lays the foundation for achieving Rabobank’s strategic ambition to help its customers with the digitisation of their services.

-ENDS-


About Signicat:
Based in Trondheim, Norway, and founded in 2007, Signicat operates the largest Digital Identity Hub in the world, offering the only complete identity platform in the market and trusted to reduce the burden of compliance in highly regulated markets. With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than a burden. By ditching manual, paper based processes and replacing them with digital identity assurance, customer onboarding is accelerated and access to services is made simple and secure. Signicat’s Identity Hub is a complete solution to that offers compliance and a route to better customer engagement.
www.signicat.com

About Rabobank:
Rabobank is an international financial services provider operating on the basis of cooperative principles. It offers retail banking, wholesale banking, private banking, leasing and real estate services. As a cooperative bank, Rabobank puts customers’ interests first in its services. Rabobank is committed to being a leading customerfocused cooperative bank in the Netherlands and a leading food and agri bank worldwide. Rabobank employs approximately internal and external 50,000 people. Rabobank Group is active in 40 countries.
www.rabobank.com

For more information, please contact:

Rabobank
Margo van Wijgerden, Press Officer
+3130 2160967, margo.van.wijgerden@rabobank.nl

Signicat
Imran Majid, PR Manager
+44 203 824 9205, Imran.Majid@ccgrouppr.com


For more information about DISP, visit:
DISP

Signicat winner of the Norwegian Fintech Achievement Award 2017!

Oslo, Norway 15th February 2017 – We’re thrilled that Signicat has been crowned winner of the Norwegian Fintech Achievement Award 2017 at .

   

Signicat, the first and largest identity assurance provider in the world, has been named the winner of the Norwegian Fintech Achievement Award 2017. Presented at the Future of Fintech & Banking conference at Oslo Fintech Fest last week, Signicat has been recognised for its outstanding achievement in the Norwegian fintech sector.

The award recognises the Norwegian Fintech company that can demonstrate innovation, market traction and global potential. Fintech is one of the hottest technology segments in Norway today, and the Fintech scene is growing rapidly. With the best digital infrastructure in the world, a population with 98% access to the internet, and a near cashless society, Norway is the perfect breeding ground for Fintech innovation.

 

 

Signicat expands eID coverage to the Netherlands with iDIN and DigiD

Signicat, the first and largest identity assurance provider in the world, now supports two new digital identities in the Netherlands, iDIN and DigiD, increasing its coverage of eIDs across Europe.

These two digital identities give Dutch citizens easy, secure access to any financial or municipal service they use.

iDIN, created by a partnership between Betaalvereniging Nederland (the Dutch Payments Association) and the government, is currently being piloted by a number of banks as well as Signicat. The identity scheme is designed to repeat the success of the Nordic BankID system by providing digital identities with multiple use cases.

Instead of providing identity credentials when signing up to a new service, customers can be authenticated through their bank – a process that is convenient for the customer and more secure for the service provider. The service is set to go live in early 2017, and existing Signicat customers have testing access now.

iDIN and DigiD available to existing Signicat customers now

DigiD is the government-issued digital identity which can be accepted by any Dutch organisation with the authority to use a customer’s social security number, or BSN. While iDIN has been created to provide a digital ID for financial services, DigiD is used for many public services, such as healthcare, legal aid, and utilities. As well as proving your identity when corresponding with the government DigiD can also authorise a third-parties to act on your behalf. As with iDIN, DigiD is available to all existing Signicat customers now.

“Our aim is to be able to establish trust between customers and businesses, and the integration of these two new digital IDs in the Netherlands mean we can continue to realise this goal across Europe,” said Marco Gouw, Sales Director Signicat Netherlands. “The integration of iDIN and DigiID into our platform means that businesses can quickly and securely onboard Dutch customers in minutes – and have trust in their identities – without any need for excessive paperwork.”

With support from The Research Council of Norway.

Read more

Signicat Sign Demo

GlobalData review of Signicat Assure and Signicat Sign demo at FinovateEurope 2017

Signicat Sign demo at Finovate Europe 2017

Sam Murrant, Senior Payments Analyst at GlobalData has shared his review of our Signicat Assure and Signicat Sign products.

Digital ID based on multiple factors
Signicat Assure builds a digital ID for consumers based on multiple factors including ID documents and social media presence, while Signicat Sign enables digital signatures with the same legal force as physical ones. Reviewed by Senior Payments Analyst Samuel Murrant.

Check out the scorecard here.

If you would like more information about Signicat Assure have a look here: Signicat Assure

Signicat Sign Demo
Want to have a look at Signicats Finovate demo video? Continue reading

Signicat launches FinTech Starter Pack

– Access to innovative electronic identity and signature solutions enables FinTech startups to immediately comply with KYC/AML regulations

Oslo, Norway 15th September 2016 – Signicat, the first and largest identity assurance provider in the world, today announced its FinTech Starter Pack to help new FinTech companies ensure immediate regulatory compliance. The package, specifically designed with the needs and budgets of FinTech companies in mind, will include access to Signicat’s Assure, Connect and Sign services, allowing startups comply with KYC and AML legislation, rapidly onboard customers, achieve increased sales and profitability and build customer trust.

“FinTech companies need to establish the trust that incumbents have built up over decades and part of that is ensuring that compliance systems are as robust as they possibly can be. But these companies can quickly find that developing this infrastructure themselves becomes a nightmare, draining time, resources, and affecting business outcomes.” said Gunnar Nordseth, CEO, Signicat.

Compliance is a very difficult issue to get around, and the fact that Signicat is offering its help through this initiative is a significant move within the industry.
Esben Bistrup Halvorsen, CEO & partner at Danish FinTech Lendino

“By providing customer on-boarding, KYC and document signing Signicat allows FinTech companies to take advantage of systems that have already undergone regulatory approval and are currently being used across the globe. We’re dedicated to innovating in the areas of electronic identity and signatures, and to offer customers solutions that enable them to offer their products and services in new and innovative ways. This starter pack is very much part of that.”

“With so many aspects of running a business to think about, assistance with the regulatory compliance process can provide a lifeline for a startup,” said Esben Bistrup Halvorsen, CEO & partner at Danish FinTech Lendino. “Compliance is a very difficult issue to get around, and the fact that Signicat is offering its help through this initiative is a significant move within the industry.”

“Signicat’s solutions are a core part of our crowdfunding offering, as they allow us to offer businesses and investors ways to organise cross-border funding rounds quickly and easily,” said Lasse Mäkelä, CEO at Finland-based Invesdor. “Partnering with Signicat for authentication services was a simple process, and has already led to dozens of successful funding rounds for our platform.”

Signicat specializes in cross border cloud based electronic identity services and electronic signatures. The FinTech Starter Pack includes access to the eID infrastructures in Denmark, Norway, Sweden and Finland, with more markets to follow, allowing companies to easily implement support for strong identification, transaction and document signing.

The Signicat FinTech Starter Pack includes:

  • Signicat cloud services for on-boarding, authentication and digital signing
  • Full access to crossborder eID testing and production environment
  • Maximum 500 transactions per month in testing and production environment
  • First month free of charge
  • Price is €149 per month thereafter

More information can be found at www.signicat.com/we-love-fintech

spaceship


About Signicat
Based in Trondheim, Norway, and founded in 2007, Signicat is the first and largest Identity Assurance Provider in the world, providing regulated markets with the technology to create mutual trust between organizations and their potential customers.

With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than an obstacle. By ditching manual, paper based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Service providers can rapidly grow market share, easily acquire new customers, and ensure compliance with financial, privacy and data protection regulations including AML and KYC.

Signicat has the technology to connect the market, the expertise to scale the systems, and the experience to build the trust.

For more information, visit: www.signicat.com

Media Contacts
CCgroup for Signicat
signicat@ccgrouppr.com
+44 203 824 9200

Invesdor and Signicat create history with InsurTech equity crowdfunding offering

  • Crowdfunding round for Cloud Solutions raises almost double target
  • Cross-border authentication of investors was key to success

Oslo, Norway 25th August 2016
Norwegian FinTech company, Cloud Solutions which develops Cloud Insurance a software-as-a-service for the insurance industry, has become the first ever Norwegian equity crowdfunding success using Finland-based Invesdor’s crowdfunding platform. Cloud Solutions saw its equity offering oversubscribed, raising almost twice its original target.

The success of the equity offering hinged on opening up access to investors across the Nordics. This was made possible by another Norwegian company, Signicat, the first and largest identity assurance provider in the world. Organizations typically use Signicat’s services for customer on-boarding and authentication as well as digital signatures.

In order to participate, equity crowdfunding legislation stipulates that investors are subjected to know your customer (KYC) verification, among other checks, including the submission of physical documentation such as passports. This creates a challenge for companies looking to raise funds from investors in multiple markets.

Invesdor’s partnership with Signicat meant that Norwegian, Swedish, Danish and Finnish investors could participate in the funding round using eIDs such as BankID, NemID, banking credentials and mobile certificates issued in each country.

“The result speaks for itself: oversubscription and an investor group that matches our company very well,” said Axel Sjøstedt, CEO at Cloud Solutions.

“We want to offer businesses and investors a user-friendly and secure service for organizing cross-border funding rounds easily, and authenticating investors and entrepreneurs is a big part of that,” said Lasse Mäkelä, CEO at Invesdor. “However, authentication services are not our core business, so we wanted an experienced partner who could offer authentication services that investors in our target markets are familiar with. Signicat worked well for Cloud Solutions’ equity offering, as it has for dozens of other funding rounds on our platform.”

“With over $34bn raised globally through crowdfunding last year alone it is clear that asking a large number of people for a small amount of money is here to stay. As the market matures companies are looking to open up access to investors from around the world to secure the best valuation and the best investors to meet their ambitions. Historically this has been largely prohibited by KYC regulation, until now,” said Antti Harsunen, Signicat Country Manager for Finland. “By allowing investors from other markets to use their existing eIDs, crowdfunding platforms can be truly global, boosting value for all those involved. The success of Cloud Solutions with Invesdor is a testament to its potential.”

First MyBank Identity Verification Pilot showcased at EBAday

Today at EBAday in Milan, two participants in the MyBank Identity Verification Pilot showcased how a consumer can digitally agree to a contract using an authentication service provided by their bank.

The transaction was completed between Signicat, a digital identity service provider for banks in the Nordics and elsewhere, and CWBI, the main gateway for a number of financial institutions participating in MyBank.

The showcasing of this transaction came as part of the ongoing MyBank Identity Verification Pilot program, which started at the beginning of the year. Since then, a working group composed of banks and service providers together with merchants and public authorities has provided feedback on the functionality and specifications created for the new MyBank Identity Verification solution. With MyBank Identity Verification, consumers can confirm online – through a service offered by their bank – for instance their age, their identity or that they wish to enter into a contract. The aim is to show how customer data held by an Account Servicing Payment Service Provider can be used to safely speed up the authentication, customer due diligence or paperwork that might be required for certain online services. These steps often take days, if not weeks to be completed, and lead to extra costs and administrative burden.

MyBank Identity Verification is an example of ‘Open Banking’, a concept that enables financial institutions to use the data they store for their customers to create additional services
Giorgio Ferrero, CEO of PRETA

Giorgio Ferrero, CEO of PRETA, said “MyBank Identity Verification is an example of ‘Open Banking’, a concept that enables financial institutions to use the data they store for their customers to create additional services, going beyond simply providing payment services. As financial institutions are required to open their accounts through new regulation such as PSD2, it also shows how they can offer their customers new value-added services.”

Arne Vidar Haug, Co-founder of Signicat, said “MyBank Identity Verification will help to bridge the gap between millions of users and online services in Europe. By digitally connecting consumers and businesses, MyBank Identity Verification is making it easy for consumers to digitally register, apply for services and sign contracts. For businesses, the solution enables regulated businesses to attract more customers online and provide great user experiences for customers.”

MyBank Identity Verification will help to bridge the gap between millions of users and online services in Europe
Arne Vidar Haug, Co-founder of Signicat

Roberto Martina, CEO of CWBI, said “MyBank Identity Verification is a great opportunity for PSPs to play an important role in the digital identity verification process. MyBank Identity Verification is the easiest way for consumers and businesses to confirm their identity through their online account in order to complete online purchases or subscribe to digital services, in a safe and trusted manner.”

MyBank is an e-authorisation solution for the exchange of financial and non-financial information. The solution currently supports online banking-based payments via SEPA Credit Transfer as well as the creation, amendment and cancellation of SEPA Direct Debit mandates and will soon also support Identity Verification services. Since its launch, goods and services worth more than EUR 1 billion have been paid for with MyBank SEPA Credit Transfer (SCT).


Press contact
Annick Moes. Tel: +49 151 1631 1526 (a.moes@ebaclearing.eu)

MyBank
MyBank (www.mybank.eu) is an e-authorisation solution that enables customers to pay for their online purchases via their regular online or mobile banking environment. The solution is open to all authorised payment service providers (PSPs) in the Single Euro Payments Area (SEPA), including, without limitation, credit institutions and payment institutions.

Customers using MyBank do not have to communicate their payment details or personal credentials to any third parties, since the payment initiation, mandate creation or transaction validation process takes place within the highly secured environment of their own bank. Public administration agencies and e-businesses using MyBank are informed in real time when a customer has initiated a payment.

As a pan-European e-authorisation solution, MyBank is also well-positioned to be used for transactions in other currencies or for e-identity services. MyBank is owned and managed by PRETA S.A.S., a wholly owned subsidiary of EBA CLEARING, a provider of pan-European payment solutions.

Follow MyBank on twitter (https://twitter.com/MyBankPayments) or LinkedIn (www.linkedin.com/company/mybank.) to keep up-to-date with the latest news.

Signicat
Based in Trondheim, Norway, Signicat (www.signicat.com) is the first and largest Identity Assurance Provider in the world, providing regulated markets with the technology to create mutual trust between organizations and their potential customers.

With Signicat, service providers can leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than an obstacle. By ditching manual, paper based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Service providers can rapidly grow market share, easily acquire new customers, and ensure compliance with financial, privacy and data protection regulations including AML and KYC.

CWBI – Codice Web Banking Innovation
Based in Padua, Italy, CWBI offers software solutions for the banking industry as well as IT consulting and software development, with strong skills in areas such as banking, insurance, media and publishing.

As an accredited MyBank System Integrator, CWBI has developed the “MyBank Platform”, a modular product offering the full range of features that allow banks to be easily activated for the use of MyBank services.

CWBI continuously focuses on improving its customer solutions through new technologies with a focus on mobile solutions. It has established strong business relationships with Italian companies of national strategic importance.

For more information about CWBI, please visit: www.cwbi.it

SDC works closely with Signicat to deliver cross border eID digital signing services to more than 120 banks

Company’s cloud-based next-generation solution selected by SDC to support cross border eID digital signing services in Scandinavia

Copenhagen, Denmark, 4th April, 2016: Signicat, the first and largest identity assurance provider in the world, today announced it will be working closely with SDC, to provide its clients with next generation cross-border eID digital signing services. SDC provides financial technology including system operation and data processing for more than 120 banks in Denmark, Norway, Sweden and Faroe Islands.

Signicat will enable SDC’s bank customers in multiple markets to quickly, simply and securely sign documents with public eIDs from Scandinavia.

SDC will integrate Signicat’s cloud-based cross border eID digital signing services into its application platform, providing access and full support for national eID and digital signing systems in Scandinavia, including BankID, NemID and Mobile ID. The service will be white labelled to SDC’s banking clients’ business and retail customers.

Since 1963 SDC has pioneered the development, delivery and maintainence of online financial systems from cards and payments to funds, issues and deposits to pensions for leading Scandanvian banks. Recently SDC has elected to work with a handful of leading suppliers with proven technology that compliments its wider product portfolio and can add significant value for its clients. Signicat was selected as its preferred supplier in a competitive tender, with the company’s flexibility, scalability and reference list proving a deciding factor.

In particular, our banking clients are seeing significant interest in digital signing services that take the pain out of manual, paper based processes.
Nikolaj Andersen, Head of R&D Digitalization at SDC

“Business and consumers are demanding digital financial services, often self-service, that can be accessed online and on the move. In particular, our banking clients are seeing significant interest in digital signing services that take the pain out of manual, paper based processes. Correspondingly banks require digital signing services that can be implemented rapidly, handle the complexities of cross-border from both a technological and regulatory perspective, and scale to potentially millions of users,” said Nikolaj Andersen, Head of R&D Digitalization at SDC.

As the first and largest digital identity assurance provider with vast experience in the Nordic markets and access to 17 eID providers globally with a reach of 81.2m customer ID credentials, Signicat was the best choice.

The starting point for any customer journey is ID verification and access. And it is critical that a digital relationship is built from the outset that doesn’t rely on manual, paper based processes.
Gunnar Nordseth, Signicat CEO

“Banks are coming under increasing pressure to provide digital services as they compete with new market entrants unshackled by antiquated legacy systems. The starting point for any customer journey is ID verification and access. And it is critical that a digital relationship is built from the outset that doesn’t rely on manual, paper based processes,” said Gunnar Nordseth, Signicat CEO.

“SDC was one of the innovators in digital signing. Our work with SDC will build on its leadership to ensure that its bank clients can offer their customers a simple and secure experience when signing, uncomplicated by long forms and lengthy ID checks. As SDC is one of the biggest players in the Nordic fintech market there’s enormous scope to help financial institutions in their transition to digital-first organisations.”


About Signicat

Based in Trondheim, Norway, and founded in 2007, Signicat is the first and largest Identity Assurance Provider in the world, providing regulated markets with the technology to create mutual trust between organizations and their potential customers.

With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than an obstacle. By ditching manual, paper based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Service providers can rapidly grow market share, easily acquire new customers, and ensure compliance with financial, privacy and data protection regulations including AML and KYC.

Signicat has the technology to connect the market, the expertise to scale the systems, and the experience to build the trust.

About SDC

SDC is an IT-centre providing an all-round service for financial institutions in Scandinavia. Our clientele is made up of over 124 Danish, Norwegian, Swedish and Faroese financial institutions, which are also the owners of SDC.

SDC is based on the philosophy of common solutions for common needs – and the cost saving benefits which go with it. SDC´s services are supplied at cost price to the owning institutions.

SDC´s core business is the development, maintenance, operation and joint purchase of IT solutions for the financial sector. SDC´s services are provided by SDC itself or SDC’s partners in cooperation and sub-suppliers.

Media Contacts

CCgroup for Signicat
signicat@ccgrouppr.com
+44 203 824 9200