Enterprise biometrics, digital signatures markets consolidate with Signicat acquisition, Avaya investment
Signicat has acquired Lithuanian electronic document signing leader Dokobit, consolidating two of the few companies certified as Qualified Trust Service Providers (QTSP) by the EU Trust List for trusted digital identity and authentication services under eIDAS regulation.
The deal strengthens Signicat’s product portfolio and also gives it a presence in the Baltic market and Iceland, and allows Signicat to provide broader coverage for the European market with its digital signature services. Like Signicat, Dokobit provides a wide range of digital signature solutions.
Signicat’s market presence was already growing fast, with the company reporting a revenue increase from €24 million in 2019 to €42 million last year from its digital identity platform. It also acquired Encap Security and Electronic IDentification (eID) earlier this year. The latter added identity verification with face biometrics through streaming video to Signicat’s capabilities.
“Together, Dokobit and Signicat share a strong cultural, commercial and technological fit. With Dokobit, we will gain access to a fast-growing and exciting part of the European e-signature market which has been largely untapped, in addition to getting exceptional talent and technology. For us this is one more important step to continuously develop our customer value propositions across Europe,” says Signicat CEO Asger Hattel.
The financial details of the transaction were not disclosed.
Avaya integrates Journey biometrics
A strategic investment made by Avaya in multi-modal biometric platform provider Journey to give its contact-center-as-a-service (CCaaS) customers the ability to request digital identity information or electronic signatures from customers.
Journey provides a patented Zero Knowledge Network, which the company says allows it to confirm customer identity with 99.9999 percent accuracy within two seconds. The company’s platform also includes authentication with face and voice biometrics.
The companies already have a relationship, with Journey participating in Avaya’s DevConnect partner ecosystem.
“Journey’s innovation in Zero Knowledge, coupled with core Avaya Contact Center offerings address critical components of the customer experience along with the privacy and security requirements faced by contact centers,” states David Austin, Avaya GVP of Corporate Development. “This strategic investment in an ecosystem partner enhances key security capabilities for our global customers, and is bringing additional industry-leading innovation into the Avaya OneCloud platform.”
“To combat the increase in data breaches and identity theft, the Avaya OneCloud Platform provides an ideal solution to leverage and orchestrate trusted identity throughout the customer journey across blended channels and devices to improve the customer experience,” says Brett Shockley, co-founder and CEO of Journey. “By verifying a customer through flexible biometrics, rather than relying on passwords like their favorite pizza topping or high school mascot, we have an opportunity to simultaneously fight fraud and customer friction in the contact center.”
The terms of the deal were not disclosed.