Encap

Encap Security, established in 2006, operates as a specialized provider of high-security, app-based mobile authentication. The company originated as a spin-off from a collaborative project by Norwegian banks aimed at creating a software-based mobile identification solution. This foundation positioned Encap as a mobile-first authentication provider even before smartphones became mainstream.

The core of Encap's business is its Strong Customer Authentication (SCA) platform, which is designed for regulated markets, with a particular focus on the financial services industry across Europe. The platform serves as a comprehensive solution for customer mobile authentication and security across all digital channels, including telephone, ATM, in-branch, and online/mobile. It facilitates hundreds of millions of transactions annually for millions of end-users. The business model centers on providing this authentication technology to financial institutions and other fintech companies, helping them to comply with regulations like PSD2 SCA while aiming to improve the customer experience.

Encap's technology offers features beyond basic compliance. Its services include an 'Anonymous ID' which allows end-users to pause and later resume onboarding processes, a feature designed to reduce customer abandonment rates. Another key feature is the 'Recovery of Authentication Profiles', which simplifies the process for users moving from an old device to a new one. The platform is essentially a software-based, two-factor authentication and digital signing tool that prioritizes user convenience without compromising security. In June 2021, Encap Security was acquired by Signicat, a digital identity company. The acquisition was a strategic move to combine Signicat's digital identity and onboarding expertise with Encap's mobile authentication capabilities, creating a more comprehensive mobile identity and authentication service provider.

Keywords: mobile authentication, Strong Customer Authentication, SCA platform, financial services security, digital identity, app-based authentication, PSD2 compliance, two-factor authentication, digital signing, customer onboarding, mobile security, fintech security, authentication technology, user verification, passwordless authentication, transaction authorisation, identity and access management, omnichannel authentication, European financial markets, mobile ID