Ukio bankas and “omnitel” introduced the first electronic signature in lithuanian internet banking system

October 25, 2005

Ukio Bankas together with the telecommunications company “Omnitel” were the first in Lithuania to implement safe mobile electronic signature technology in the Internet banking system. 

From now clients will be able to connect with the system and sign banking transactions with their mobile phone, which will not require a special telephone but a SIM smart card will be used. Security features of the solution are equivalent to those of bank cards with microprocessor chips.

Until now users of Ukio Bankas electronic banking system “Eta Bankas” used to verify their online connection by regular passwords, PIN password generators and TAN codes. Henceforth the Bank’s clients have been offered a simpler alternative: they will be able to connect with the system and confirm operations by entering a signature code in their mobile telephone.

Edvinas Navickas, Director of Ukio Bankas’ Product Development Division, noted that this innovative solution gives more freedom and comfort to the users of “Eta Bankas”. “The users of Eta Bankas will have access to online services any time in any place because we usually carry our mobile phone with us”, he says.

“We are happy that a safe mobile electronic signature has been first applied exactly in a banking product offered for the mass market. This fact not only proves that we develop reliable solutions but also demonstrates that state-of-the-art technologies are available and value-adding to all users”, says “Omnitel” Marketing Director Giedrius Makauskas.

The technical solution of the first electronic signature in the Internet Banking System was implemented by “Etronika” UAB, a company developing safe, flexible and efficient systems for modern electronic business and banks within and outside Lithuania.

Experts forecast that continuing hacking against banks and their clients will finally drive all providers of Internet Banking Services to implement only safe electronic signature technologies. Mobile electronic signature is regarded to be one of the most convenient modes for the user and has been started to introduce in some European countries.

As indicated by the latest data of the Communications Regulatory Authority, the telecommunication company “Omnitel” by generated revenue takes more than half of the mobile communications market (53 percent). The company that provides easy and simple as well as secure services has been focusing on mobile Internet expansion this year.

Ukio Bankas AB, “Omnitel” UAB press release.