The international innovation - Smart-ID - is coming to Latvia
In near future Latvia will become one of the first countries in the world to introduce the next-generation authentification solution - Smart-ID, which is based on smartphone platform and will enable users in Latvia to conveniently access banks and other digital services via their mobile phone.
The Smart-ID is a mobile app (application) letting you access different e-services in a secure and easy way. Preparations are already underway at the Latvian banks Swedbank and SEB to offer this app to their customers within the first half of this year.
Initially, it will be used in Latvia as an alternative to banks' code cards and code calculators with an even higher level of security; however, over time it may become useful also in other areas, for example, to sign documents outside Internet Banking.
The use of this new tool has great potential — 1.4 million bank customers in Latvia are also users of Internet Banking services. According to the 2016 data of the Latvian Internet Association, 800 000 Latvian residents use Internet in their cell phones. Whereas, the TNT data shows that currently 61 % of all Latvian residents have smart devices.
The global innovative solution was created by the experienced Estonian private company SK ID Solutions that has been a reliable partner for the Estonian state and successfully developing and producing secure national electronic signature solutions for many years now. Latvian inhabitants will be among the first ones to have the opportunity to take advantage of this international innovation making access to finances easier than ever.
How to use the Smart-ID?
The Smart-ID is a separate mobile app (application) for smart devices that will be available for download in the Appstore and Google Play websites and then may be connected by using a valid code card or code calculator. Afterwards, you will have to choose only two PIN codes to use for logging on to the Internet Banking (PIN1) and to confirm payments or sign documents (PIN2). It means that in future a smart phone is all you will need to access e-services — no more carrying code cards or code calculators with you. You can even use Smart-ID on multiple devices, which makes it even more convenient.
The Smart-ID complies with all the modern technology and security requirements, and uses the latest cryptography methods. It is especially convenient because your smart phone is always with you. Besides, if you lose your phone, the Smart-ID is protected by your chosen PIN codes.
The Mobile Reality
“Digitalisation encompasses new challenges also in the area of security. To ensure that our customers can feel certain of the security of their assets and access them easily, we have chosen a world-class solution — the mobile app Smart-ID. We will offer it as an alternative to current authentication tools — code cards and calculators, so everyone can choose a solution that suits their habits and needs the best,” points out Iļja Nogičevs, Head of Digital Banking at SEB Latvia.
“The Smart-ID solution goes hand in hand with development of mobile banking, because nowadays you just need one smart device with you to manage your finances.
This innovative solution is in line with the global trends — the use of smart devices is already overtaking the use of regular PCs by a wide margin, and it will only grow in future.
Furthermore, about a fifth of the so-called millennials (18 to 34 years old) uses only smart devices. Launching of the Smart-ID solution means that phones are already turning into people's digital wallets,” says Vladimirs Frolovs, Member of the Board and Head of the Customer Service Division at Swedbank.
“Smart-ID – developed by SK ID Solutions – provides easy to access strong authentication mechanism. It can be used across EU for e-identification and for creation of digital signatures as the market for such services has been opened by European Parliament. We were on time with our developments of new technology also for the payment services to meet the requirements of strong authentication. We are truly happy to see that two of the biggest Latvian banks are among first organisations to implement Smart-ID. I am positive that this new innovation will attract more Latvian users to enable this kind of cross sector electronic identification mean,” says Kalev Pihl, the CEO of SK ID Solutions.
What is SK ID Solutions?
SK ID Solutions (SK) was selected as the service provider through an international competition which comprised 11 participants with their solutions. SK is included in the EU Trust List as qualified trust service provider and the first provider of the qualified e-Seal in the European Union. The services and information system of SK have been recognised and awarded the international security certificate ISO/IEC 27001:2013. The company has more than 15 years of experience in provision of certification services as the partner of the Estonian state. SK has created and maintains the eID infrastructure in Estonia. It has an extensive international customer base. SK provides services to more than 600,000 end-users in Estonia alone.