“Smart-ID” – Faster and Easier Way to Login to the on-line banking

2018-12-18

From now on the clients of Šiaulių Bankas will be able to login to online banking and carry out banking transactions with their smartphones or tablets with a Smart-ID app.

“Thanks to this app the login to the on-line banking as well as confirming the banking transactions take less time. Clients who use “Smart-ID” don’t have to carry PIN code cards or code generator – everything becomes faster and more modern with the app. The client can manage several functions with one key. Several important advantages of “Smart-ID” can be distinguished – convenience and security” says Vytautas Sinius, Chief Executive Officer of  Šiaulių Bankas.

“Smart-ID” is a simple and secure authentication tool, allowing to conveniently use electronic services. According to the principle operation, this solution is treated as mobile signature.

“2018 has been really successful year for us in Lithuania. In December, we finished the integrations with Šiaulių Bankas. Today, the four largest Lithuanian banks use “Smart-ID” - it means that around 800 thousand clients use our services in Lithuania. We appreciate such trust and seek to ensure that the services we provide would meet the highest quality standard, and in spring we intend to launch “Mobile-ID” services in Lithuania” says Liisa Lukin, Business Development Manager  SK ID Solutions.

Statistics of Šiaulių Bankas show that demand for electronic services is increasing.  It is estimated that about 170 thousand clients are currently using the online banking of Šiaulių Bankas, this number increased by about 18 percent per year.  Until now the clients of Šiaulių Bankas were able to login to online banking by using PIN code card/code generator, mobile signature or electronic signature (on the integrated circuit card, USB stick). The majority (about 80 percent) of the clients chose PIN code cards. It is expected that after the installation of “Smart-ID” the use of authentication tools will change as “Smart-ID” is free, the clients do not need to sign separate contracts, they only need a smartphone or a tablet.

In accordance with the data of the Estonian company “SK ID Solutions”, which created the “Smart-ID” app, the number of “Smart-ID” users is growing rapidly in Lithuania and in other Baltic countries. More than 800 thousand clients use the app in Lithuania, while there are more than 1.5 million “Smart-ID” users in all Baltic countries.  They make 25 million bank transfers per month.

In order to start using “Smart-ID” all you have to do is to download the free app and register an account – no additional costs or going to the bank branch. The app meets the highest security requirements. “Smart-ID” does not store PIN codes on the smart device, therefore, even in case of losing a smartphone, your data will be safe.  

For more information about “Smart-ID”, please visit here