Signicat adds biometric video capabilities with Electronic Identification acquisition
Signicat has acquired Electronic Identification (eID) to add the Spain-based company’s biometric asynchronous video identification services to its portfolio. The move strengthens Signicat’s European presence and represents its next step towards becoming a global leader in digital identity and electronic signing solutions, according to the announcement.
The company has begun referring to itself as ‘the Trusted Digital Identity company,’ trademarking the capitalized phrase, following its launch of the ‘Trusted Connections’ brand at the end of June.
eID has more than 250 customers in 30 countries, providing asynchronous video identification with an end-to-end identification process including selfie biometrics which combines with its Qualified Electronic Signature (QES) service, the companies say. eID face biometrics are provided under the SmileID product name.
“Through our long cooperation, we were convinced that eID is a perfect match for us. Their unique services are a great compliment to our offering, and they bring with them a stronger foothold into the European market and competency to further fuel our growth ambitions,” comments Asger Hattel, CEO of Signicat. “Together, we will solve some of the most advanced digital identity challenges for our customers.”
The companies have been partners for four years, with eID solutions available on the Signicat platform. The joint offering provides a high level of security and compliance for digital identity solutions in the European market, and enables a common end-to-end biometric onboarding process across the EU for regulated businesses.
“We look forward to continuing our partnership and becoming part of the Signicat family. Joining forces will enable us to achieve the rapid expansion we have been working on for the last eight years,” says Ivan Nabalon, CEO of eID.
eID will continue to operate as an independent organization, with a plan to fully integrate with Signicat within two years.
Terms of the deal were not disclosed.
Signicat also acquired Encap Security in June as it builds out its technology portfolio and plots its international expansion.