Signicat partners with German identity scheme to simplify onboarding and authentication
Signicat will integrate the new German identity scheme yes.com into its Digital Identity Platform under a new partnership to streamline secure customer on-boarding, authentication, and electronic signatures.
The ‘yes’ open identity scheme enables banks, service providers, and other businesses to provide a simple, secure, and complaint authentication process from a participating bank without an additional login. The scheme is expected to be available to 35 million users in Germany soon.
“A big issue that digital identity schemes often have to overcome is they need to do two things at once—convince consumers to sign up, and convince businesses to accept the scheme,” says Gunnar Nordseth, Signicat CEO. “With around 35m users able to use yes without signup, it’s a service that is already some way to solving half of this tricky problem.”
Businesses within Germany or conducting business in the country can connect with the ‘yes’ service through the Signicat platform for customer verification and authentication with customers’ existing credentials. The ‘yes’ identity scheme is compliant with all European laws and regulations, as well as PSD2 and eIDAS regulations, and is GWG-compliant and BaFin-regulated to guarantee high standards of security and data protection, according to the announcement.
Signicat was acquired in April by Nordic Capital, which plans to accelerate the company’s international expansion, shortly after entering the German market through a partnership with Verimi.
authentication | biometrics | digital identity | identity verification | KYC | Signicat