Encap Security, a privately held provider of uncompromising authentication for financial institutions, today announced that it has been acquired by AllClear ID, the world leader in protecting organisations, their employees, and their customers from the fallout of a data breach.
Following the acquisition, Encap will continue to support and advance its Smarter Authentication platform for existing and new customers, partners and re-sellers, while leveraging the resources gained from AllClear ID. Over time, the Encap brand will be integrated with the AllClear ID brand.
With the acquisition, AllClear ID will enhance its suite of identity protection products with Encap’s state-of-the-art technology, bringing more secure and convenient identity protection to millions of AllClear ID customers.
The acquisition establishes an AllClear ID presence in Europe, putting it in a strong position 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).