Auðkenni tokens were distributed to all customers of Icelandic banks and savings banks between 2006 and 2007. This action substantially increased security for online banking in Iceland. A rapid growth had been observed in the preceding years of both online hacking and direct breaking into of computers, for the purpose of illegally gaining access to an individual's or organization's online bank.
The Auðkenni tokens make logging into online banks safer but still do not protect users from all risks. Therefore electronic authentication is in constant development. E-certificates are merely the latest developments in this process to ensure security for users and service providers in online commerce.
The use of e-certificates is one of the safest ways for electronic authentication known today. They can also be used for qualified signatures of electronic documents.