Fellow Finance
With plans to further expand across Europe, Fellow Finance wanted to contract a single provider capable of supplying online authentication solutions in as many countries as possible, while at the same time reducing the overhead—both in terms of cost and resources—of its legacy in-house system.
– Signicat has helped us cut costs, minimize administrative work, and supported our expansion into new markets, all through a single authentication solution.
Alisa Pankin toimitusjohtaja
The challenge
Fellow Finance is a progressive and innovative crowdfunding for people and businesses, and is based in Helsinki, Finland.
Prior to partnering with Signicat, online customer authentication at Fellow Finance was achieved through in-house integration with the Finnish TUPAS system. This meant maintaining technical interfaces and contracts with multiple banks, which was time-consuming, expensive, and resource-intensive.
With plans to further expand across Europe, Fellow Finance wanted to contract a single provider capable of supplying online authentication solutions in as many countries as possible, while at the same time reducing the overhead—both in terms of cost and resources—of its legacy in-house system.
The solution
We started by carefully assessing Fellow Finance’s core challenges, working closely with key stakeholders to define desired outcomes and subsequently onboard the appropriate solution successfully. We concluded that the customer identification solution was the ideal fit for us in Finland and Denmark, and there are plans to launch in Sweden and Estonia soon.
The result
Signicat’s customer authentication solution has made a significant impact at Fellow Finance. Since integrating our solution into its processes, the company no longer needs to maintain individual contracts with every bank, while Signicat handles the technical aspects from end to end. As a result, Fellow Finance estimates that it has achieved savings of 35% on the costs associated with customer identification.