Banking identity as an example of cooperation between the state and companies
The banking identity has become an excellent example of how cooperation between the state and the private sector can significantly accelerate the digitization of the entire society. In my presentation, we will talk about how the bank identity was created and what was the motivation of the founders. You will find out how the system works, what are the benefits for public administration and companies, and what it has brought to the almost 3.5 million users who have used it in less than three years.
Bank identity has linked the ID card with logging into the online world. In the Czech Republic, thanks to an agreement between the state and banks, it has become a universal key to services from both authorities and companies. This short overview shows what it has brought, where it is used, and where it is heading. Bank identity (BankID) works like a “digital ID card” – it leverages the fact that the bank has already securely verified your identity when you opened an account and assigned you login credentials. The same mechanism is then used outside the bank as well: with the state and private companies. The solution was inspired by Sweden, Norway, and Denmark, and in the Czech Republic it was enabled by an amendment to the Banking Act in 2020. The service has been in live operation since roughly mid‑2021.What bank identity is and how it came about
