Danish payments body Payment Business Services (PBS) is launching NetID, a national digital signature service that enables online banking customers to send legally binding electronic documents over the Internet.
Net-ID is based on the same security technology used for online banking services and was developed by PBS in conjunction with the Danish banking sector.
The system enables customers to use their Web banking access codes on electronic documents, such as product applications and insurance and loan agreements, to prove their identity. The bank then confirms the user's identity and the document is archived to ensure there is always a back-up copy.
PBS says all of Denmark's 2.2 million online banking users will be offered the service. The company has already signed Danish pensions and insurance firm ATP to the system, which will be used to verify transactions on its new electronic trading platform, Folkebørsen.
Johnny Bennedsen, director, PBS, says: "We are finalising agreements for net-ID with a number of other companies at this time, and expect more in the 1st quarter of 2005."