OneSpan helps protect four million Norwegians from financial fraud
By Edlyn Cardoza
OneSpan™, one of the digital banking transaction security and e-signatures, recently announced that BankID has implemented cloud authentication and anti-fraud solutions from OneSpan to improve the customer experience and help secure one of the most widely used applications in Norway.
BankID is a personal electronic ID in a mobile app backed by both Norway’s government and all Norwegian banks, used to secure citizen identities and complete transactions online. Norwegian adults use the BankID app to safely access banking apps and to view and sign transactions, including taxes and legally binding documents, for public digital services and enterprises in a wide range of sectors.
Recently, BankID modernized its mobile app by integrating with OneSpan’s Mobile Security Suite along with Application Shielding and Cloud Authentication. These solutions authenticate users, protect the app against an increasing number of mobile threats and fraudulent activity, and improve the experience for the country’s citizens. Through its cloud solutions, OneSpan provides BankID with a flexible environment while helping the bank improve security and increase scalability.
“Innovation, flexibility and user convenience are part of Norway’s DNA as one of the most digitized countries in the world,” said Jan Bjerved, Business Development Manager at BankID. “OneSpan’s strong expertise in the financial sector and its extensive mobile security capabilities have been important in this large modernization project. We’re looking forward to deploying our national identity scheme across other regions.”
OneSpan Interim President & CEO, Steven Worth, said, “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’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.”
BankID is a personal and simple electronic ID for secure identification and signing online. BankID is used by all the banks in Norway and can be used by all organizations and enterprises that are looking for secure and simple identification online. BankID Norway was established in 2004. In July 2018, BankID, Vipps and BankAxept merged to offer better and broader services to our customers and partners. BankID is now owned by Vipps, a mobile payment solutions company.
OneSpan helps protect the world from digital fraud by establishing trust in people’s identities, the devices they use and the transactions they execute. OneSpan’s security solutions significantly reduce digital transaction fraud and enable regulatory compliance for more than half of the top 100 global banks and thousands of financial institutions around the world. Whether automating agreements with identity verification and e-signatures, reducing fraud using advanced analytics, or transparently securing financial transactions, OneSpan helps lower costs and accelerate customer acquisition while improving the user experience.