Case Study: Ålandsbanken achieves seamless account recovery with Signicat

Alandsbanken cuts account recovery support calls with Signicat as 25% activate self-service recovery

Alandsbanken, a Finnish bank, faced the challenge of customers being locked out of their digital banking services if they lost their physical code table. This legacy method forced customers to either wait for a new code to arrive by mail or travel to a branch, causing significant inconvenience. To modernize this process, Alandsbanken worked with its partner Crosskey and the vendor Signicat to implement Signicat's Account Recovery solution.

The solution provided by Signicat allowed customers to create a recovery code during setup. If a device was lost, this code could be used on a new device to instantly restore access without any support calls. This resulted in a drastic reduction in related support calls. Measurable impacts include 25% of customers proactively activating the feature and 6% successfully using it for recovery within a year, demonstrating its effective real-world use.

Alandsbanken