Telenor and the Norwegian banking industry have announced they have entered into a "unique agreement to make life simpler for millions of Norwegians by making banking and payment services available via a mobile phone, anytime and anywhere."
The Norwegian banking industry, through the Norwegian Savings Banks Association and the Norwegian Financial Services Association (FNH), is behind the BankID Partnership (BankID Samarbeidet). The BankID Partnership has developed BankID, an electronic proof of identity which can be used for identification and signing agreements on the Internet.
BankID for mobile phones builds on the cooperative model in the BankID Partnership. The agreement between Telenor and the BankID Partnership is unique as there is no equivalent cooperation between the banking industry and the telecommunication sector in other countries.
"With BankID for mobile phones, we are helping simplify our customers' lives, while at the same time participating in a unique and innovative partnership with the banking industry," says Berit Kjoell, Division director in Telenor.
BankID for mobile phones strengthens BankID's position as the most widespread and widely used electronic proof of identity. Telenor is the first operator to enter into an agreement with the BankID Partnership, but this does not exclude other operators from signing a similar agreement.
BankID for mobile phones will be available in 2008 and all banks participating in the BankID Partnership may offer BankID to their customers. When that happens, 2.3 million Internet bank customers and 2.7 million Telenor subscribers will be able to identify themselves and sign agreements using a mobile phone. This means that customers decide the bank's opening times and have access to new services they need -- secure services, anytime and anywhere.
"The financial industry is at the forefront of using modern and cost-effective solutions to the benefit of people in general. BankID for mobile phones can help meet people's expectation of being able to satisfy their banking needs anytime and anywhere. Having to stand in line to pay bills is ancient history," says Arne Skauge, Managing Director of FNH.
Usage of mobile phones has gone beyond speech and SMS to areas such as MMS and the Internet. BankID for mobile phones is a natural part of this development, and will initially be used in four areas: logging on to Internet banks, mobile banking, electronic service for business and the public sector, and account-based payment services for the Internet and mobiles (BankAxess).
The BankID Partnership was set up by the Norwegian Financial Services Association (FNH) and the Norwegian Savings Banks Association to develop and coordinate infrastructure for the entire banking industry. The banks participate directly in the BankID Partnership through projects and involvement in working groups. Each bank issues BankID and supplies the market with accompanying services.