BankID BankAxept Acquires Danish Criipto

"We aim to develop new, innovative services, bring them quickly to market, and participate in international growth within the eID space. Criipto has a unique and developer-friendly integration platform, offering several European eIDs – including BankID. We believe that we can achieve great things together," says Øyvind Westby Brekke, CEO of BankID BankAxept.

Criipto is currently the official provider of eID solutions for businesses in Norway (BankID), Denmark (MitID), Sweden (Swedish BankID), Finland (FTN – Finnish Trust Network), among others. The company is headquartered in Copenhagen.

Maintaining the partner approach in Norway

BankID services are currently sold to Norwegian businesses through a network of resellers, or partners. With the acquisition of Criipto, BankID BankAxept will, for the first time, also be able to offer these services directly to the market.

"Many businesses want to purchase BankID solutions directly from us, quickly, easily, and in a self-service manner. Now that we own an eID reseller, this will be possible. We have long stated that we intend to move from being just an infrastructure provider to also becoming a service provider. A natural step on that journey is to offer BankID directly to the market," says Brekke.

However, he emphasizes that the reseller model will still continue:

"We are very pleased with the collaboration we have with our resellers. They are among our most important partners, and that will remain so. With the acquisition, we are establishing our own direct sales channel, which will operate alongside our reseller partnerships," says Brekke.

Criipto will operate as a subsidiary of BankID BankAxept.

A strong match

Criipto and BankID BankAxept have a history of cooperation. Niels Flensted-Jensen, co-founder and CEO of Criipto, looks forward to the future:

"We expect to strengthen our position with BankID BankAxept as the owner. They are knowledgeable buyers, who know us and our products, and we share ambitions for the future. We expect to accelerate our product development and expand our access to European markets," he says.

BankID BankAxept and Criipto will, in the coming time, develop a joint strategy and get to know each other better.

"We didn't acquire Criipto just to consolidate our position in the Nordics and gain access to a direct sales channel for BankID. The most important thing for us is our shared ambition for a European presence and the development of products based on the latest advancements in digital identity and upcoming EU regulations," says Øyvind Brekke.

About Criipto

Criipto is an eID reseller, helping companies in sectors such as finance, healthcare, and insurance to implement and manage digital ID solutions. Criipto was founded 11 years ago by CEO Niels Flensted-Jensen and CTO Mikkel Christensen. Criipto has 20 employees and is headquartered in Copenhagen. Important markets for Criipto today include Denmark, Norway, Finland, Sweden, Belgium, and the Netherlands.

About BankID BankAxept

BankID BankAxept AS was established in 2022, following the demerger from Vipps. The company is owned by banks in Norway, through Vipps Holding AS. BankID BankAxept holds a leading position in identity, payment, and KYC/AML in Norway, through services under the brands BankID, BankAxept, Kundesjekk, and Stø.