New research looks in-depth at this growing dynamic, including Signicat’s work with Rabobank
Trondheim, Norway, 27th April 2018—Signicat, the world’s leading digital identity provider, has been profiled in Lafferty Group’s in-depth research on the collaborations between financial providers often seen as rivals: Bank-Fintech Partnerships: Deployment Lessons from Around the World.
The report explores the opportunities available to both banks and fintechs by partnering rather than only competing, and includes 21 detailed case studies. It examines how banks are not just partnering with fintechs in order to provide new services to their customers, but also how banks can learn from fintech culture to solve business issues.
The deep dive into Signicat’s partnership with Rabobank covers the creation of a Digital Identity Service Provider (DISP) in the Netherlands, Rabo eBusiness, designed to replicate the success of BankID in Norway. As the report notes, “there is a gap between the metrics on an eID card and the requirements for digital onboarding of customers in financial institutions that is also sufficient for Customer Due Diligence…Rabobank will offer customers a trusted digital identity that they can then use to access all kinds of other services.”
“At Signicat, we believe that fintech providers and banks are not enemies, and a great deal of potential can be unlocked when they work together,” said Gunnar Nordseth, CEO, Signicat. “We’re delighted that Lafferty has chosen to profile our collaboration with Rabobank as an example of this working in practice.”
The report is part of Lafferty’s Retail Banking 2020 research, and a sample is available here: http://reports.lafferty.com/reports-store/retail-banking-2020-research-service/artificial-intelligence-and-robotics-in-banking.html
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 200 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/