Norwegian payments body Bankenes BetalingsSentral (BBS) has licensed technology from struggling security vendor Baltimore Technologies for the creation of BankID - a national electronic public key infrastructure (PKI) for the banking and finance industry in Norway.
Under the EUR3.4 million deal, BBS will use Baltimore's UniCert and KeyTools security products and services to enable secure online payments and information processing for banks, businesses and private individuals throughout the Nordic region. BankID has been established by major Norwegian banks and the Banking Association as a common security system in Norway, to be operated by BBS.
Baltimore technology will be used by individual banks to issue and manage BankID digital certificates to authenticate customers transacting online. Banks will be able to sign and authenticate multiple transactions through the Norwegian banking network using the same certificate, says the company.
Oyvind Apelland, senior VP trusted services BBS, says: "This is a project of strategic importance and strongly positions the Norwegian banks to provide trusted services. We are confident that Baltimore have the technology and services to deliver."
The system will be initially implemented and marketed by five leading banks in Norway, he adds.
Baltimore says the license and service revenue will be recognised as the solution is delivered over the next six months.
There was more good cheer for cash-straped Baltimore with news that Peruvian-based ID Cert has selected the Irish company to provide the platform behind a managed service offering to businesses, government agencies and financial institutions in Peru and the Andean Pacific region of South America, including Venezuela, Colombia, Ecuador, Bolivia, and Chile.
ID Cert is currently deploying its service offering to a government agency for use in a national identification card application. It is also partnering with another government agency to authenticate 230 independent customs brokers with the goal of creating a seamless, paperless process for the clearance of shipments.