Case Study: Myandbank becomes Andorra’s first 100% digital bank with Signicat

Myandbank launches 100% digital banking and opens 500+ accounts a day with Signicat

Myandbank, a digital bank in Andorra, faced the challenge of becoming the country's first fully digital bank, which required a remote and compliant process for customer identity verification and contract signing. They needed a solution that was intuitive, fast, and would build trust with users who were accustomed to in-person branch transactions. They partnered with Signicat to use their VideoID and Electronic Signing products.

Signicat provided a seamless identity verification and electronic signature solution that was fully compliant with Andorran regulations. The implementation was a success, allowing Myandbank to open over 500 accounts per day in its first two days, a feat that would have been impossible with a physical approach. As a result, Myandbank quickly surpassed 16,000 customers and established itself as a leading digital bank.

Myandbank