Bank Norwegian Case Study

Digital Identity in Consumer Finance

Now, they simply fill out an application form online and submit it by identifying themselves and signing using BankID. It doesn’t get any more simple than that.

Michael Myran
Marketing Director
Bank Norwegian

“Switch banks in 90 seconds”

In 2009, Bank Norwegian set a new standard when they introduced the concept “Switch banks in 90 seconds”. Using eID, customers could easily switch bank without time-consuming processes involving meetings, phone calls and application forms. As the first bank in Norway, and among the first in the Nordic region, Bank Norwegian set the standard for self-service banking.

Customers were introduced to a concept that was simple, straightforward and practical. Bank Norwegian have also benefited from the solution, because they don’t have to spend unnecessary time and resources on phone calls and form processing. One example is the Consumer loan with BankID.

“This is a good solution for our customers, who have previously had to deal with complicated processes to switch banks. Now, they simply fill out an application form online and submit it by identifying themselves and signing using BankID. It doesn’t get any more simple than that. By using eID as a key function in our product base, we have been able to streamline the structure and organization of our company, both in terms of cost-effectiveness and workability,” says Michael Myran, Marketing Director of Bank Norwegian.

banknorwegian
Bank Norwegian AS is a Norwegian online banking company that directs its business to the private market. They started operations in November 2007 and offer consumer loans, credit cards and deposits to personal customers through the internet in the Nordic market.