What is BankID
BankID is a digital authentication system that was introduced in Norway in the early 2000s. Developed as a collaborative effort among Norwegian banks, BankID was designed to provide secure, easy, and convenient access to a wide range of online services, not just limited to banking. It quickly became a game-changer in the country’s digital landscape.
How BankID Works
At its core, BankID is a robust and secure electronic identification solution that leverages a combination of personal identification numbers (PINs), passwords, and secure hardware tokens or mobile apps. Users can obtain a BankID from their respective banks, and it serves as a universally accepted digital ID for online transactions and access.
Here’s how it works:
- Registration: Users sign up for BankID at their chosen bank by providing their personal information and verifying their identity. This typically involves a physical visit to the bank or an online verification process. The prerequisite for this step is that you must have your 11-digit Norwegian National Identity Number which is given by the Police when they proceed your residential application.
- Authentication: Once registered, users receive a BankID and can use it to authenticate themselves on various online platforms. This can include logging into their bank accounts, accessing government services, signing legal documents, and more.
- Two-Factor Authentication (2FA): BankID enhances security through a two-factor authentication system. Users must enter their unique PIN and a one-time passcode generated by the BankID app or hardware token to complete transactions or access secure information.
The importance of BankID
One of the most significant advantages of BankID is its versatility. It’s not limited to a single use case but can be employed across a broad spectrum of digital services, such as:
- Banking: Users can log in to their online banking portals, make transactions, and manage their finances securely.
- Government Services: BankID is widely accepted by government agencies for services like tax filings, applying for permits, and accessing healthcare records.
- E-commerce: Online shoppers can make secure payments using BankID, reducing the risk of fraud and ensuring that their transactions are protected.
- Digital Signatures: BankID can be used to electronically sign legal documents, eliminating the need for physical paperwork and simplifying various administrative processes.
And because of such versatility, when a person without BankID on the very first days coming to Norway, it would be very challenging for the person when he/she is prevented to access to almost necessary public services. So it would be wise to proceed for getting bankID as soon as possible right after arriving Norway if you plan to stay long there.
A Global Inspiration
Norway’s BankID has garnered international attention and inspired similar initiatives in other countries. The concept of a universal digital ID that offers convenience without compromising security is an aspiration for many nations seeking to streamline their digital services and enhance user trust. In a world where the digital landscape is constantly evolving, BankID continues to stand as a testament to Norway’s commitment to innovation.