Banks, Financial Services, Legislation, Lithuania, Technology

An electronic signature in a secure USB device is a qualified electronic certificate issued by the Centre of Certificates of the Centre of Registers of Lithuania allowing person identification and electronic document signing, writes LETA.

The system implemented in Ukio Bankas is the first commercial solution that will use the Centre's of Registers electronic signature. Until now the users of this signature were able to sign only when using the services of state institutions.

The new solution of Ukio Bankas and the Centre of Registers provides the clients with the possibility of connecting to the electronic banking system Eta Bankas and executing transactions using the Centre's of Registers electronic signature.

"The advantage of this electronic authentication method lies in its reliability, security and speed. The client no longer needs to have a code card or a digipass, which quite often are left at home or work," Jolita Kiausiene, Director of Ukio Bankas Electronic Banking Department, said. "In addition, the maximum client data security is ensured. Due to these particular technological qualities we endeavour to create a possibility for our clients to use all possible versions of the electronic signature presently existing in Lithuania."

Back in 2005, Ukio Bankas was the first in Lithuania to introduce an option of electronic signing with the help of a mobile phone. This year an updated version of a mobile signature was put forward.

"In the coming several years Lithuania will witness an especially rapid development of electronic signature-based private and public services," Mindaugas Zaliukas, Head of the Centre of Certificates of the Centre of Registers, forecasts. "Already now state institutions offer several dozen of electronic signature-based services and in the future the number of these services will notably grow extending to private company offices."

Ukio Bankas and the Centre of Registers of Lithuania have agreed to continue developing electronic signature use options. In the nearest future Ukio Bankas has the plan to start introducing into its electronic banking system the so-called role granting service, based on the electronic signature, when, without signing any additional agreements, the company’s head will be able to grant the right to the company's responsible employees to have access to the company's account or perform transactions with funds in it, or deprive employees of such a right.

Agreements between Ukio Bankas and the Centre of Registers also cover a service of concluding remote agreements in the electronic banking environment, which will provide a possibility to individuals or companies to conclude agreements bearing legal force and confirm them by electronic signatures.