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Bo Harald

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Bo Harald - ZEF, Transmeri, Demos, Real Time Economy Program

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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Give citizens a choice - and this is what they choose

08 May 2012  |  3472 views  |  2

Strong e-id is often needed when logging in also to non-banking services. Reusing bank e-id also there - especially in the public sector - is something of the most sensemaking aspects of also otherwise much needed public-private co-operation. 2011 was a great year for bank e-id (TUPAS) - the alternative (a state issued smartcard) is not used at all. It is to be hoped that no further countries will try the citizens smartcard route (our dead on arrival experience should deter). Background here: http://www.finextra.com/community/fullblog.aspx?blogid=2820

Bank e-id tools can also be had by the non-banked. Close to 30m transactions in Finland would translate to 2,1 bn in Europe. Massive cost-saving - and would deliver much faster public sector e-services.

Using bank ID for login to third parties started in -93 in Finland. Now at least Sweden, Estonia, Norway, Denmark are using it - and at least Canada is joining soon. It would be interesting to see if somebody can come up with real counterarguments in the still-out-countries. 

e-Commerce payments (like the Dutch Ideal) was introduced in Finland in 1996. Good growth also there. Again it is a question of economy of repetition (same procedure as when paying bills), economy of reuse, economy of scale, economy of scope and economy of trust.

e-id and e-commerce payments TagsPayments

Comments: (4)

A Finextra member
A Finextra member | 14 May, 2012, 12:17

Clicking into the bankid.no website shows 2.768.050 users and 391 service providers across all industries. The users log in or sign some sort of an electronic document 21 times per second! When I post this comment 3:15 CET the total amount of auth/ signature transactions has reached 442045.. Money saved and both users and service providers keep smiling.

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Bo Harald
Bo Harald - ZEF, Transmeri, Demos, Real Time Economy Program - Helsinki Region | 14 May, 2012, 13:03

This is great! What is your total number of e-id transactions going to be 2012? Ahead of Finland?

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Bo Harald
Bo Harald - ZEF, Transmeri, Demos, Real Time Economy Program - Helsinki Region | 14 May, 2012, 13:04

of course I mean number in addition to log-on to e-banking..

 

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A Finextra member
A Finextra member | 15 May, 2012, 10:33 Non-banks stand for 1,2 million transactions per month. This basically tells us two things. One is that banks takes their own medicine and still there is a great potential in other sectors. Users use their BankID 2-3 times a week in the bank/ finance domain and every 2-3 months in other sectors.
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