Digital agreements security company OneSpan and electronic identity company BankID have expanded their partnership to extend digital identity protection covering cross-border transactions to all Norwegian banks.
The partnership will bring together an array of digital identity solutions at BankID, which is an electronic ID for secure identification and signing online that is issued by 90 banks and 9,000 merchants and used by 4 million Norwegians when banking, shopping and accessing public services online, according to a Wednesday (Sept. 7) press release.
“We are strong believers in creating magic for the users in terms of experience, with as little friction as possible and users feeling safe and secure when using our services,” BankID Head Jan Bjerved said in the release. “Our trust in OneSpan is based on their proven solutions that ensure we provide the highest level of security to our entire population.”
OneSpan will also ease compliance with a European Union requirement that key public services in EU states must make digital identity wallets available to all citizens by September 2023, according to the release.
“In a world where the highest levels of assurance are required to establish users’ identities, our partnership with BankID lays the foundation for the future of secure digital identity platforms and unlocks a new world of experiences that can now include cross-border transactions,” OneSpan President and CEO Matthew Moynahan said in the release.
The partnership expands upon the one launched in September 2021 when BankID began using OneSpan’s cloud authentication and anti-fraud offerings.
Read more: BankID and OneSpan Partner on Digital Banking Security
“Innovation, flexibility and user convenience are part of Norway’s DNA as one of the most digitized countries in the world,” Bjerved said at the time.
Technology partnerships enable financial institutions (FIs) to bring together all of a bank’s individual tech tools for fraud detection, biometrics, identity servers, security appliances and more, OneSpan’s Will LaSala told PYMNTS in a November 2019 interview.
See more: How to Defend Corporate Banking Against Trojans, Malware
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