What Is Bank ID and Why It Is Important?

Bank ID – an identification system that enables banks to verify the user’s ID via bank. Bank ID lately became super popular to be used a lot at online casinos as well. This technology is widely adopted in Scandinavian countries such as Finland, Norway, and Sweden, or other countries like Estonia. With a help of this technology, users are identified via banks.

Depending on the country, the technology is created and supervised by different companies. In Sweden, it is developed by Finansiell ID-Teknik BID AB, which is mainly owned by the biggest banks in the country. Finnish banks use the same principle and control, develop, and watch the technology as well.

But how this helps and makes online casinos operate better? Let’s find this out.

How Bank ID Changed The Gambling Industry?

It helped online casinos to solve a few really big concerns that made things easier, quicker, and more pleasant for players. Bank ID allows players to play at online casinos without signing up.

First of all, Bank ID allows players to avoid the registration process. How does it work? Well, when a gambler wants to play, one only needs to use his/her bank credentials. With a help of this technology, online casino immediately knows when the same user come back.

Secondly, the technology has KYC already completed in itself. Logically, the player that uses the bank, is already the legal age, as well as being a real person. No one can open a bank account without providing a passport or national ID card. So when an online casino gets a request to play by a user connecting via Bank ID, it’s already clear – the player is over 18 or 21 years old, and he’s a real person with all documents in order.

So Bank ID eliminates the need of registering and verifying the user by asking him or her to go through the Know Your Customer procedure. It saves time and privacy for a user.

Is Bank ID Safe to Use?

Of course. Just the fact that this tech is supervised by the biggest banks ensures that the highest standards of security are followed. The banks have really strict regulations and are always audited by authorities and other institutions that always watch the industry.

Moreover, customers always use up-to-date applications and encrypted connections for processing selected actions.

Bank ID is used among many other industries, not gambling alone, which pushes the technology to advance all the time. For example, Bank ID is used for e-government services or accessing medical records. The data that’s very sensitive and must be protected at all costs.

What Do I need to Use Bank ID?

It’s really straightforward. You do not need to go through any specific actions. You only must have a bank account at any of the local banks that are in the system of Bank ID. The next time you use a service that completes verification through this technology, the user only needs to provide his/her bank credentials. Nothing more. And we can say with confidence, it cannot be more simple than this.

What Are the Best Online Casinos With Bank ID?

If you are looking for the best online casinos that use Bank ID, you don’t need to waste your time anymore. Just browse through our site and you’ll find plenty of online casinos that are trusted, reliable, and of course, uses Bank ID for identifying the players.

Here are a few of our favorite Bank ID online casinos:

Final Word

Bank ID is really great technology that truly changed the industry of iGaming. It saves time, ensures a high level of security, and offers great convenience for gamblers.

Sadly, only players from Finland, Sweden, and Estonia can use local variations of tech based on this principle. The Duthes and Germans were able to use it some time ago as well. But due to recent changes in regulations, there is no ability to use it at the moment. We honestly hope that it will come back soon as it is so easy to use and convenient, that using a regular online casino after using casinos with Bank ID should be truly hard.

All in all, if you have a chance to use casinos that offers payment methods based on Bank ID, use them.

 

Resources for further research:

Bank ID Sweden

Finnish Bank ID

BankID in Norway

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