Signicat and Mitek join forces in digital onboarding drive
Mitek teams with Signicat
Identity assurance provider Signicat and digital identity verification company Mitek partnered to improve the onboarding experience for end customers while helping banks comply with new regulations, reports Julie Muhn at Finovate.
The two teamed up to create a solution specifically for Europe-based financial services providers, who are facing a handful of new and ever-changing regulations, including PSD2, AMLD5, and eIDAS. The new tool, available in Signicat’s Digital Identity Platform, integrates Mitek’s Mobile Verify solution to authenticate identity documents presented during a remote, mobile onboarding process. To comply with AML and KYC regulations, Mitek’s Mobile Verify captures an image of the identity document to ensure its authenticity.
“Partnering with Mitek enables us to jointly offer European financial services institutions a customer onboarding solution that is 100% online,” says Gunnar Nordseth, CEO at Signicat. “The partnership is designed to remove friction from the customer onboarding process to ensure financial institutions can effectively compete in the marketplace.”
Nordseth also notes that Signicat clients can now simultaneously benefit from Mitek’s Mobile Verify solution, as well as Signicat’s secure authentication, electronic signing, and sealed document archival. Signicat also offers an eID hub, which consists of a wide variety of third party eID providers covering regions all over the world.
Signicat was founded in 2007. In January this year, the company closed a $2 million funding round, bringing its total financing to $3.9 million.
Mitek is publicly traded on Nasdaq with a market cap of $307 million. Mitek was founded in 1985 and is headquartered in San Diego, California. Last month, it acquired artificial intelligence and image analysis company A2iA for $49.7 million.
