Rabobank enters digital identity market

Rabobank enters digital identity market

Rabobank has partnered with Norway's Signicat to provide a digital identity hub for businesses looking to onboard new customers and sign legally-binding contracts online.

The joint Digital Identity Service Provider (DISP) offers a range of online login, identity, signature and data archiving services under the banner of Rabo eBusiness. Rabobank says it will initially market the programme to energy, telecom and insurance companies, healthcare institutions and financial services providers.

The arrangement highlights the new dynamic between fintech companies and established banks, providing Rabobank with a ready-to-market platform from which business customers can streamline the onboarding of new clients, digitally sign contracts and access a dashboard for invoices or expense claims.

The launch of the platform coincides with the introduction last month of iDIN, a bank ID service for the Netherlands developed by the Dutch Payment Association.

Alexander Zwart, responsible for online channels & access at Rabobank, says: "In order to be able to offer technology and a high-quality and safe range of products, we have opted not to develop it ourselves, but instead to collaborate with a well-established strategic player. Signicat has a proven Digital Identity Service platform that is considered leading in the Nordics, a mature digital identity market.’

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