A just-announced partnership between two Finovate alums – Mambu and Signicat – will deliver digitized id administration providers to banks, fintechs, and monetary service suppliers throughout Europe. The collaboration between the SaaS banking platform and the digital id firm is designed to assist establishments within the area leverage improvements in id administration to spice up buyer acquisition, improve the shopper expertise, and defend in opposition to id fraud.
The only-API integration between Signicat’s id platform and Mambu will allow customers to use a wide range of digital id verification options to a spread of processes, together with onboarding, id authentication, and e-signatures. Of their joint assertion, each firms highlighted abandonment as one problem the brand new integration will assist firms meet. They famous that 63% of shoppers in Europe give up a minimum of one monetary app within the final 12 months, citing analysis performed by Signicat.
On the similar time, the mixing additionally will assist firms cope with the brand new surroundings for cybercrime, significantly id fraud, which has flourished within the work-from-home, COVID-19 period. “Identification fraud continues to be a serious menace to companies throughout the globe and damages belief,” Mambu Managing Director for EMEA Eelco-Jan Boonstra stated. “And with everybody working from residence – the COVID-19 pandemic has solely accelerated this. Due to this fact monetary service suppliers are counting on buyer belief and loyalty greater than ever.”
Asger Hattel, who took over as Signicat’s CEO in January of final 12 months, underscored the way in which the pandemic had accelerated pre-existing tendencies towards digitization. “World lockdowns have turned a need for digital providers into an pressing want,” Hattel stated. “Our analysis into shopper attitudes in the direction of onboarding present that monetary service suppliers are struggling to maintain up with shopper’s digital calls for – and it’s costing them prospects.”
Mambu’s partnership with Signicat comes within the wake of the Mambu’s $132+ million (€110 million) fundraising final month – which introduced the corporate’s whole valuation to greater than $2 billion (€1.7 billion). Additionally final month, Mambu introduced the addition of recent Chief Monetary Officer Langley Eide. Based in 2011 and headquartered in Berlin, Germany, Mambu is an alum of each our Finovate conferences – debuting in 2013 at FinovateAsia – and our occasion for builders and engineers – FinDEVr New York, in 2016.
Primarily based in Trondheim, Norway, Signicat focuses on offering id assurance worldwide, enabling banks to leverage current buyer id to speed up onboarding, enhance entry to providers, and join customers, units, and extra throughout channels and markets. A Finovate alum since 2017, Signicat has raised $8.8 million in funding from traders together with Horizon 2020, Viking Enterprise, and Safe Identification Holding.