Signicat announces one million digital identity transactions in a single day

Trondheim, Norway, 2nd July 2019Signicat, a leader in verified digital identity solutions, has announced that the company passed a major milestone on the 1st July 2019, with one million verified digital identity transactions in a single day.

Digital identity is widespread in the Nordics, where up to 90% of the adult population use an electronic identity (such as BankID) for digitally signing up for new services such as bank accounts or insurance policies, authenticating and logging into these services, or electronically signing agreements.

A key driver for Signicat’s growing transaction volumes is the increasing use of mobile authentication. Fast and frictionless authentication increases customer engagement and provides a better customer experience. Increased login frequency opens up possibilities for new revenue streams in the form of upselling and cross-selling, without compromising security or regulatory compliance.

“As people prepare for their summer holidays, we’re seeing a significant number of transactions, whether it’s checking bank balances, applying for travel insurance, or paying down credit cards,” said Gunnar Nordseth, Signicat CEO. “The rapid growth in authentication transactions is largely driven by our customers that have adopted a mobile-first strategy, using their mobile applications to drive engagement and business growth.”

Signicat MobileID is an authentication solution for web and mobile applications and relies on fingerprint, Apple FaceID and PIN code for authentication. By cutting authentication time to under three seconds, it removes the friction from logging into a service, gives brands with more opportunities to interact with the customer, and provides PSD2-compliant security.

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