September 29, 2004

As the first bank in the Danish market, SkandiaBanken has concluded an agreement with TDC on use of Digital Signature in its banking transactions. As part of the agreement, the Central Customs and Tax Administration (ToldSkat) will for the first time make it possible to transmit information on customers’ tax matters in electronic form direct to a bank in connection with treatment of loan applications, etc.

With this agreement, SkandiaBanken will, as from October 1, be able to offer its customers the option of establishing Digital Signature direct via the Internet bank. At the beginning of November, the bank will go one step further and offer customers the chance to apply for and be granted loans online. By means of Digital Signature, the customer can ask the Central Customs and Tax Administration to transfer a copy of his latest yearly statement to the bank.

It thereby becomes possible to do away with the traditional paper process in connection with loan applications, and it will be possible to grant a loan in just a few minutes’ time.

This is the first agreement where a public authority, the Central Customs and Tax Administration, uses Digital Signature to exchange personal data with private companies in electronic form. For TDC, the agreement with SkandiaBanken marks a breakthrough within the banking sector following the banks' withdrawal from the cooperation on a joint digital signature in June.

Statements and background information can be found below:

Minister for Science, Technology and Innovation Helge Sander (liberal-democratic party) states:
”It is a useful and time-saving offer for the citizens that they can use the public digital signature to achieve more flexible loan application processes in the Internet banks that offer this service. The ability to transfer yearly statements via the Internet from the Central Customs and Tax Administration to the bank is a very good digital offer, which highlights the advantages of digital signatures. It is also beneficial for the penetration of digital signatures that SkandiaBanken offers to issue digital signatures direct to its customers.”

Minister for Taxation Kristian Jensen (liberal-democratic party) states:
”At the Ministry of Taxation we want to make it possible for people to be able to benefit to the highest degree possible from the data that we have. We are talking about the citizens' own data and it must be possible for them to pass on this data to others, for instance their bank or other advisors. This must of course take place in a secure manner. And this is why I welcome this increased cooperation on digital signature.”

President Henrik Vad of SkandiaBanken states:
”It now becomes much more simple and easy for SkandiaBanken’s customers to apply for loans. They can get an immediate response to their loan applications 24 hours a day, seven days a week, and in most cases they can have the money paid direct into their account. And as we get all the relevant information from the Central Customs and Tax Administration, our customers no longer have to go through the hassle of sending paper copies of their yearly statements. The entire process will now take place electronically. This results in considerably faster response times, and our staff can use their time on providing advice to customers. This will of course lower our costs, which will benefit our customers in that we can maintain our concept with attractive interest rates and no fees.”
For further information in connection with the above, please contact Henrik Vad on tel+45 33 89 60 01.

President and CEO Henning Dyremose of TDC states:
”We are very pleased about this agreement with SkandiaBanken and the Central Customs and Tax Administration. This is an example of a very practical and down-to-earth use of Digital Signature that can be used by many consumers and we hope that this may create renewed interest at the banks that have so far rejected the use of Digital Signature. The agreement makes it clear that there is no alternative if you want to exchange information with public authorities in electronic form.”

Background information:
SkandiaBanken has asked the Central Customs and Tax Administration to establish a solution whereby the bank could get electronic access to yearly statements that are part of the assessment of loan applicants' creditworthiness. The Central Customs and Tax Administration has committed itself vis-à-vis the Ministry for Science, Technology and Innovation to use Digital Signature (public certificates for electronic service (OCES)) for this purpose, and this means that SkandiaBanken’s customers can use Digital signature in a very easy way when applying for products that necessitate an assessment of the customer's creditworthiness and that they can get an answer right away.

SkandiaBanken’s customers already use the bank’s own digital signature when logging on to the Netbank. In order for the whole process to be as trouble-free as possible, SkandiaBanken offers its customers the possibility of establishing Digital Signature online.

The establishment or installation of Digital Signature (OCES) takes place at TDC. In practice, this happens when the customer identifies himself to TDC by being transferred from the Netbank. With this identification, Digital Signature can be downloaded and installed right away on the customer’s computer. Subsequently, via the Central Customs and Tax Administration’s website, the customer can approve that his yearly statement is sent electronically to SkandiaBanken. When the application flow is resumed at SkandiaBanken’s website, the customer will receive information regarding the product, for instance that his loan application has been accepted.

Facts on SkandiaBanken:
SkandiaBanken is Denmark’s largest Internet bank with more than 110,000 customers. SkandiaBanken is part of the Skandia Group, which is a leading trust management company in the Nordic countries. The bank has operated in Sweden since 1994 and in Norway since 2000. In 2001, SkandiaBanken branched out to Denmark. SkandiaBanken is a full-service bank offering its customers a full range of banking and insurance products.

Facts on Digital Signature:
The agreement on Digital Signature between TDC and the Ministry for Science, Technology and Innovation was signed on February 6, 2003. At present, approx. 215,000 digital signatures, 21,000 employee certificates, and almost 600 company certificates have been issued, adding up to a total of approx. 237,000 signatures. Between 500 and 800 new certificates are issued every day.

For further information, please contact:

TDC’s Press Secretariat, tel. +45 33 43 73 37