As we wind down 2019, we look back at our most read blogs of the year. Pour a glass of julebrus, sit back, relax, and revisit our year in digital identity:
On 30th September, 2019 the Finnish TUPAS electronic identity (eID) scheme was to be made obsolete in order to meet the highest eID security (EU eIDAS regulation). This meant that organisations relying on TUPAS for eIDs were required to switch to new, strong, authentication protocols such as OIDC or SAML 2.0. The blog outlines what the changes entail for organizations.
In line with Signicat’s most read blog of 2019, comes the second most read blog which delved into what the TUPAS to FTN transition really entailed. The blog sheds light on the 7 key considerations for organisations switching to FTN including “what strong authentication actually means”, “what is FTN” and “why should I choose Signicat as my eID broker?”.
Signicat was approved as a qualified trust service provider (QTSP) according to the EU’s eIDAS regulation (Regulation (EU) 910/2014) which spurred some reflections on what it actually meant to be “qualified” and the trust services situation in Europe and whether the eIDAS’ concept of qualification has been successful. The blog looks at pros and cons of being a QTSP including cost and EU legitimacy considerations.
2019 was a great year for Signicat in terms of winning not only one but in total four reputable awards (i.e., Banking Technology Awards, Financial Innovation Award, VVCM Credit Management Award and Celent Model Bank Award). Signicat, jointly with Rabobank, won the category for “Best use of RegTech” with their joint venture - Rabo eBusiness- which enables companies to identify and authenticate their customers online by using electronic identities like iDIN and DigiD in the Netherlands, and also verify identity documents like passports and driver’s licenses online. Want to know why, with some tangible figures, Rabo eBusiness is such a success? Head on over to our Rabobank customer page!
Not only were Rabobank and Signicat recognized for their winning solution- Rabo eBusiness- they were also acknowledged for a great partnership winning in the category of “Best FinTech Partneship” at the Financial Innovation Awards. Rabobank needed a partner that understood the digital identity space to build a platform and therefore approached Signicat- a leader in digital identity and verification solutions. Learn more about the process and strength of the two partners in Signicat’s Analyst Case Study.
Signicat conducted some research around digital onboarding in the retail banking industry (since then we expanded our research in the report Battle to on Board III). The research found that over 50% of consumers abandoned their attempt to sign up for new financial services. Yet of the consumers interviewed (4,000 individuals in the UK, Germany, Sweden and Netherlands), 72% said that they do want an all-digital onboarding system. Of those consumers that do onboard digitally, we found that they were more likely to remain loyal and tend to apply for more products and services. So if customers want to sign up online, but over half of them quit before they’ve completed the process, what’s going on? Read to find out why!
2019 was a busy year for our colleagues in Germany with many events including the Tieto Roadshow in Berlin, Munich and Frankfurt on the topic of digital onboarding and electronic signatures. As part of the Roadshow, concrete ideas and practical examples were discussed on how digital onboarding and electronic signatures can reduce costs, accelerate processes and increase customer satisfaction. Contact Signicat Germany to learn more!
Communications Manager at Signicat
December 30 2019