Telenor and the Banking Industry in Norway Launch BankID for Mobile Phones

Telenor and the banking industry in Norway have entered an agreement to simplify the process of bank related operations. BankID will provide customers with banking and payment services on mobile phones.

"Technologically, banks in Norway are among the world leaders, and the extensive cooperation in the industry has resulted in much simpler banking for customers. Another step in this direction is BankID for mobile phones, with Telenor as partner. The partnership will have enormous consequences for bank customers in the future," says Arne Hyttnes, Managing Director of the Norwegian Savings Banks Association.

The Norwegian banking industry, through the Norwegian Savings Banks Association and the Norwegian Financial Services Association (FNH), is behind the BankID Partnership. The BankID Partnership has developed BankID, an electronic proof of identity. Available in 2008, BankID for mobile phones will allow Telenor subscribers to identify themselves and sign agreements on the move, using a mobile phone.

"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.

BankID for mobile phones 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.