Established in 2002, Finansiell ID-Teknik BID AB is jointly owned by Bankgirocentralen, Danske Bank I Sverige, FöreningsSparbanken, Handelsbanken, Ikanobanken and SkandiaBanken.

BankID is based on Public Key Infrastructure (PKI) standards and provides identification and electronic signatures services over the Internet.

Länsförsäkringar Bank says it will introduce the service to its Web banking customers at the beginning of 2004.