SpareBank1 has ordered another 100,000 Todos Readers.
Combined with previous orders over five years, this means that Todos eCode technology protects nearly 600,000 SpareBank1 customers. SpareBank1 is an alliance consisting of about 30 Norwegian banks. It is one of the largest providers of financial services and products in the Norwegian market.
Norwegian banks have designed a national PKI scheme, called BankID. Citizens can use BankID for e-banking, online shopping, e-government and payments. Each bank is responsible for providing its customers with a secure way to login to the central server to access their digital certificate.
This is where SpareBank1 relies on the Todos Reader. It reads a bank-issued debit card and generates one-time passwords. It is a small key-ring device that people find very easy to use. It is an essential link in the chain of trust the central government, the banks and individual users.
The Norwegian bank alliance has relied on Todos technology to create secure online relationships with its clients since 2004. "This new order confirms the value of trust to SpareBank1," says Ulf Dahlberg, Todos's Sales Director EMEA, "and Todos values their business and their confidence in us. It's the kind of long-term relationship that we aim to build with all our clients."