Signicat adds digital signature expertise with SmartWorks acquisition

In a strategic move to strengthen its digital identity solutions, Signicat has acquired Iceland-based digital signatures provider SmartWorks. By combining their respective strengths, the two companies aim to provide a more comprehensive solution to combat the growing challenges of digital fraud and identity theft.

Furthermore, Norway-based Signicat can now expand directly into the Icelandic market with the integration of SmartWorks technology into its suite of anti-fraud solutions. Asger Hattel, Signicat’s CEO, also notes the success of Dokobit by Signicat, a solution already utilized in Iceland by both public and private companies.

“We are highly enthusiastic about this acquisition as SmartWorks is the market leader in Iceland when it comes to fraud and digital identity. We can now further leverage SmartWorks’ expertise and resources to sell our portfolio of digital identity solutions across the Icelandic market,” Hattel adds.

Signicat has acquired various companies to consolidate its technological capabilities, customer base, and market reach. These acquisitions have enabled it to offer Electronic Identification, which involves a video-based verification technology compliant with eIDAS standards, and Sphonic, an advanced anti-fraud identification technology.

To safeguard both businesses and their customers from digital fraud, Signicat provides anti-fraud solutions that comply with Anti-Money Laundering (AML) regulations. With Signicat’s VideoID technology, ID documents and biometric information can be securely scanned for international identity verification, thereby significantly reducing the risk of identity fraud.

“We are very excited to join Signicat and it will vastly strengthen the service offering for Icelandic companies. Signicat is trusted by leading companies around the world and is backed by Nordic Capital, one of the largest private equity funds in Europe,” says Olafur Pall Einarsson, CEO and founder of SmartWorks.

SmartWorks, a provider of e-signatures and anti-fraud solutions, was established in 2016 by Olafur Pall Einarsson in Reykjavik, Iceland. Since its inception, SmartWorks claims it has become one of the largest players in the Icelandic market, offering advanced solutions to fights against digital fraud while facilitating secure and efficient electronic signatures.

“Electronic signatures are widely adopted and already a business standard in Iceland. However, trust services extend far beyond signatures with authentications, identity proofing, validations, trust orchestration and many other related services. This union puts us in the position to shape the future of digital identity in Iceland and to partner with all key stakeholders to define how the market will evolve,” Einarsson adds.

Einarsson has been appointed country manager for Signicat, and all Smartworks companies have joined the acquiring company.

One of SmartWorks’s features is its proficiency in enabling secure online document e-signature functionalities through its integration with DocuSign. This capability allows users to send digital files and ensure secure e-signatures from both their clients and business associates.

Article Topics

acquisitions  |  digital identity  |  electronic-signature  |  Iceland  |  Signicat  |  SmartWorks