OREANDA-NEWS. On April 10, 2008 Parex banka has upgraded its IT system and now offers its clientele integrated online banking. Under its new system customers can both check account activity in every Parex banka's branch in Latvia, Estonia, Sweden and Germany and transfer funds and perform payments from Parex banka's current accounts opened in these countries, reported the press-centre of Parex banka.

This opportunity is provided due to the integration of all current accounts of Parex banka's branches into one information system.

Ilya Shevchenko, Head of the Products and Services Development Division comments: “After the Estonian branch's database was transferred into the centralised Parex banka IT system at the beginning of April, every Parex banka's customer has the opportunity to manage their accounts using the online integrated banking service. Moreover, the system ensures the quick and economically advantageous transfer of funds from each Bank account opened in Latvia, Estonia, Sweden, and also Germany.”

Customers in Latvia, Estonia, Sweden and Germany can use the standard Digipass GO 3 signature calculator or the more comprehensive signature calculator Digipass 700 by accessing Parex online banking. Both devices generate confidential information used for client identification – authorisation codes and electronic signatures. These replace the customer's physical signature and authenticate the customer's order in the message to the Bank. The Digipass device is intended to foster secure communications between the bank and the customer. A code card is also available to the customer as an alternative to Digipass.

Parex banka's payment services available to Parex online banking users should be particularly noted. The service allows the transfer of funds between Parex banka branch accounts on-line. It means that the order to transfer funds from one Parex banka account (e.g. in Latvia) to other Parex banka accounts (e.g. in Estonia, Germany or Sweden) will be processed in a few minutes' time.