Encap Security Acquired by Client, AllClear ID

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Software-based multifactor-authentication provider Encap Security has been acquired by AllClear ID, an Austin-based company that provides data-breach and identity-protection services. Terms of the deal were not disclosed.

In a blog post announcing the change, Norway-based Encap made it clear that it will proceed with business as usual. The company will not only support its Smarter Authentication platform for new and existing customers, but also enhance its offerings by leveraging AllClear ID’s technology.

AllClear ID will use the acquisition to enhance its existing offerings using Encap’s device-authentication and e-signature technology. The move also allows AllClear ID to establish a presence in Europe to “capitalize on emerging opportunities, including major regulatory changes such as the introduction of the General Data Protection Regulation (GDPR) and the Payment Services Directive (PSD II).”

Screen Shot 2016-06-27 at 1.09.07 PMAdam Dolby, Encap vice president of business development, presented at FinovateFall 2015 in New York.

Founded in 2007, Encap debuted Omnichannel Enablement platform at FinovateFall 2015. VP of Business Development Adam Dolby began his presentation by describing why people dislike security. Dolby continued the demo by showing how Encap keeps things simple for end users by keeping the complexities of security behind-the-scenes.

Last week Norway-based BankID partnered with Encap to pilot in-app authentication for its online identity service. In the spring of 2015, Encap integrated with Apple’s TouchID to help financial institutions leverage a new authentication method.

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Encap’s Omnichannel Enablement Platform Offers a Consistent, Secure UX Across Channels

EncapSecurityLogoThis post is part of our live coverage of FinovateFall 2015.

Next, Encap Security debuted its Omnichannel Enablement Platform:

Encap’s Omnichannel Enablement Platform enables financial services companies to unite their previously separate transaction channels to create a clean, consistent, and safe method of access for their customers at any point. The result is increased satisfaction, reduced confusion, and an improved user experience whereby customers always know what to expect and when to expect it. Omnichannel to Encap means truly uniting all channels for customers: telephone, card, ATM, in-branch, online/mobile or anything else. This combination of unity and security allows for the delivery of enhanced products and services, improved revenue, and dramatically reduced costs.

Presenter: Adam Dolby, VP, business development

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Product launch: 2014
Metrics: $8.3 million raised; 15 employees
Product distribution strategy: Through financial institutions; through other fintech companies and platforms

HQ: Palo Alto, California; Oslo, Norway
Founded: 2007
Website: encapsecurity.com
Twitter: @encapsecurity

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Encap Security Integrates with Touch ID

Encap Security

This post is part of our live coverage of FinovateSpring 2015.

Encap Security demonstrated how it can enable financial institutions to take advantage of new authentication methods:

Encap is demonstrating how their platform can enable institutions to offer choices to their customers, without sacrificing on security, or creating a management headache. Showcasing their integration of Touch ID, Encap will demonstrate how their solution can detect and use device capabilities as they come to market. The result is a flexible platform that allows financial institutions to take advantage of new authentication factors as they emerge, without the pain of reengineering the entire authentication framework. This flexibility allows Encap to be a truly omnichannel authentication option, and perhaps the only one that improves both security and usability.

Presenters: Adam Dolby VP, Americas; David Nayes, sales director, Americas

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Product Launch: June 2014

Metrics: Encap Security’s management team has an unrivaled pedigree in authentication and mobile financial services. The Encap Security executive team has 60+ years of experience across mobile financial services, identity management, and mobile app security. The total investment made in Encap Security is €4.8M.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Palo Alto, California, and Oslo, Norway
Founded: 2007
Website: encapsecurity.com
Twitter: @encapsecurity

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