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Signicat, a global leader in anti-fraud software solutions, has made a strategic move by acquiring SmartWorks, an Icelandic company specializing in e-signatures. This acquisition aims to enhance Signicat's presence in the Nordic region and strengthen its digital identity services, particularly in verifying and safeguarding online accounts and credentials.
With this acquisition, Signicat expands its portfolio to include additional e-signature capabilities, complementing its existing suite of authentication, identity proofing, validations, and trust orchestration services. Their clientele spans across various sectors including finance, payments, insurance, mobility, and governmental organizations in 44 countries, encompassing the Icelandic government.
As Asker Hattel, CEO of Signicat, pointed out, the acquisition presents an excellent opportunity to not only increase Signicat's visibility in Iceland but also assist Icelandic companies in combating fraud while facilitating cross-border growth with enhanced security and customer conversion rates.
The integration has seen all SmartWorks employees joining the Signicat team, with founder Olafur Pall Einarsson appointed as Country Manager Iceland. This move further solidifies Signicat's foothold in the region, with the Icelandic office becoming its 17th in Europe. While the financial terms remain undisclosed, the integration underscores Signicat's commitment to expanding its offerings and geographic reach.
Founded in 2006 and acquired by Nordic Capital in 2019, Signicat's comprehensive suite of products ensures interoperability, a highly sought-after attribute in the cybersecurity and anti-fraud market. This interoperability is particularly valuable in navigating the complex landscape of regulatory compliance, streamlining processes for businesses across industries.
