The big differentiator of MitID brokers is their added strategic value
January 17, 2024
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MitID is replacing NemID as Denmark's national eID solution and now online service providers need to integrate with a MitID broker to maintain operations. There are five certified brokers to choose from, few of which possess the prerequisites required to realize their client's digital aspirations and visions in addition to MitID and just one provides the worldwide coverage for such endeavors.
Denmark is upgrading to MitID
The European Commission, which authored the ‘International Digital Economy and Society Index 2020’ has named Denmark the fourth most digital country in the world. With more internet users than any other EU country and 94% of citizens that perform their banking matters online the epithet is well-earned. Regarding e-commerce, 33% of Danish SMEs are selling online, nearly double the EU average of 18%. So, although Denmark with its population of approximately 5,8 million is a small country its market for online purchases and transactions is strong. A fundamental of the digital infrastructures in Denmark is the electronic identity solution NemID simplifying Danish citizens' access to a wide range of public and private online services. NemID was launched in 2010 and was at that point one of the first eID solutions in Europe. Almost eleven years later the need for a more resilient solution has resulted in the Danish government's initiative to replace NemID with an eID that can withstand the digital threats that the future might bring, an upgraded successor named MitID.
The choice of MitID broker
MitID is the new national electronic identity solution that will be used by virtually all people in Denmark. The migration of all NemID users to MitID is planned to be complete by the beginning of 2022, until then online service providers have a window of time to integrate with a MitID broker. Online service providers are wise to consider what added value and which prerequisites a potential integration entails before deciding on a broker. All MitID brokers are certified by the Danish Agency for Digitisation, thus meeting very high standards in matter of security, business management, reporting, data processing, and support. These demanding yet basic qualities by no means constitute the premise for a well-thought-out and strategic choice of broker, neither do economic factors since the differences in pricing are moderate.
The question requiring an answer before the ultimate choice is made: "What can the broker offer the business in addition to MitID integration?”. If the questioner craves an almost utopian answer in the form of a MitID broker that in conjunction with integration and via the same interface grants a client access to a global array of KYC (Know Your Customer) and KYB (Know Your Business) solutions compliant with AML (Anti Money Laundering) regulations worldwide. Then the choice of MitID broker ought to be self-evident.
ZignSec – the ideal MitID broker
ZignSec is a reputable MitID broker with a long performance history as a digital identity broker in other European countries and Asia. Integrating with ZignSec as MitID broker includes access to a global array of KYC compliance solutions for customer onboarding, due diligence, monitoring, and more - all connected via one interface. Business opportunities are widened way beyond MitID using the same connection and source of implementation for all eID, KYC, and KYB solutions necessary for companies to expand their business internationally. ZignSec rally the compliance solutions for all industries and countries that are part of the digital landscape and offer them as a single end point.
Verify and validate the legitimacy of your corporate clients
Evaluating corporate clients involves digging, investigation, and complicated decision-making. Our extensive portfolio of KYB-focused products and workflow solutions mitigate these efforts.