Mobile-first FinTech authentication platform Entersekt is teaming up with Sweden’s electronic identification solution BankID to offer financial institutions (FIs) in Norway a unified approach to managing identification protocols.
“Including the Norwegian e-ID on our security and authentication platform gives Norwegian banks the opportunity to work with a single partner for all their authentication needs, including biometrics, app security and passwordless login features,” Entersekt Vice President of Channel Partnerships Frans Labuschagne said in a press release on Tuesday (Aug. 31).
Labuschagne added that BankID enables FIs to expedite their “digital enablement journeys,” bring more clients on board, offer new services and boost revenue streams. In addition, banks will also be in compliance by using just a single platform.
The BankID and Entersekt alliance will empower Norwegian banks to onboard customers using BankID while also adhering to know your customer and anti-money laundering (KYC/AML) regulations, according to the press release. The FIs also can use BankID to verify eSignatures.
The addition of BankID to the Entersekt Secure Platform is timely as the European Union (EU) moves toward greater cross-border support of interoperable electronic IDs.
BankID Head of Sales Eva Sandberg said that the affiliation with Entersekt is in step with its objectives to facilitate support for authenticating digital identities across the EU.
“Working with a leader in device identity and customer authentication like Entersekt positions us well for the future,” Sandberg said.
Labuschagne said that being able to support the identity frameworks countries have in place positions Entersekt to lend a hand to other FIs and companies that depend on e-ID.
Entersekt offers multi-patented technology that securely authenticates device identity and customer authentication to FIs and large companies worldwide. The company aims to protect them from fraud while also offering new experiences.