BankID will lean on the cloud authentication and anti-fraud offerings from digital banking platform OneSpan to “improve the customer experience and help secure one of the most widely used applications in Norway,” according to an announcement on Wednesday (Sept. 8).
BankID, a personal electronic ID in a mobile app that’s backed by both Norway’s government and all Norwegian banks, is used to secure citizen identities and complete transactions online. Norwegians use the BankID app to access banking apps and view and sign documents, including tax forms and other legally binding paperwork, for digital services and companies across various vertical markets.
BankID is using OneSpan’s Mobile Security Suite and its application shielding and cloud authentication to modernize its mobile app and enhance its security protocols. These solutions authenticate users and help to protect the app against mobile threats and fraud.
“Innovation, flexibility and user convenience are part of Norway’s DNA as one of the most digitized countries in the world,” BankID Business Development Manager Jan Bjerved said in the joint announcement.
“OneSpan’s strong expertise in the financial sector and its extensive mobile security capabilities have been important in this large modernization project,” he said. “We’re looking forward to deploying our national identity scheme across other regions.”
“We have had a strong partnership with BankID in Norway and now more than ever support their vision and execution of a secure digital identity,” OneSpan Interim President and CEO Steven Worth said in the announcement.
“OneSpan’s digital identity and anti-fraud solutions enable financial services providers to deliver secure and trusted experiences while minimizing friction, mitigating fraud, and reducing operational costs,” he said.
Mobile-first FinTech authentication platform Entersekt also recently partnered with BankID to offer financial institutions (FIs) in Norway a unified approach to managing identification protocols.
BankID and Entersekt will work together to help Norwegian banks onboard customers using BankID while also adhering to know your customer and anti-money laundering (KYC/AML) regulations. The FIs also can use BankID to verify eSignatures.