- Financial Services
Open accounts, sign customers in and approve risky changes with a verified digital identity.
Banks check identity when a customer opens an account, signs in on a new device and changes anything that could move money. Digital identity credentials let the customer prove who they are from their wallet, and let the bank verify that proof cryptographically in real time.
The challenge for banks
Most banks verify new customers from document images, selfies and database lookups, then repeat a lighter version of the check when a customer changes phone, resets a password or adds a payee. Each check collects more personal data than the decision needs, and every stored passport scan is personal data the bank then has to protect.
With a credential issued by a government or another trusted issuer, the bank receives signed attributes it can check against that issuer, and the customer shares only the attributes the bank asks for.
Where verification is needed
- Account opening: customer due diligence from a person identification credential
- Signing in on a new device: confirming it is the same customer before the device is trusted
- Step-up checks: confirming identity before a change of address, phone number or payee
- Account recovery: re-establishing identity from the wallet, with no branch visit or document upload
- Lending and mortgages: verifying identity and attested attributes before a decision
- Business banking: verifying the people who act for a company
What Vidos does
- Vidos Authorizer sends an OpenID4VP presentation request to the customer's wallet, listing the attributes your policy needs
- Vidos Verifier checks the signature, issuer, expiry and revocation status of SD-JWT VC, mDoc (ISO/IEC 18013-5) and W3C VC credentials
- Vidos Universal Resolver resolves issuer keys published as decentralised identifiers
- Vidos Validator applies your onboarding and step-up rules, such as minimum age or country of residence
- Results come back through one API, with an audit log of every verification
Regulatory context
Article 5f(2) of the eIDAS Regulation, as amended by Regulation (EU) 2024/1183, requires banks and financial services firms that must use strong user authentication to accept the European Digital Identity Wallet when a customer chooses to use it. The deadline is 36 months after the core wallet implementing acts entered into force, which is 24 December 2027. Implementing Regulation (EU) 2025/848, which sets the rules for registering as a wallet-relying party, applies from 24 December 2026.
The EU Anti-Money Laundering Regulation (EU) 2024/1624 applies from 10 July 2027. Article 22(6)(b) names electronic identification means at eIDAS assurance level substantial or high, with the relevant qualified trust services, as one of the two ways to verify a customer's identity. In the UK, regulation 28(19) of the Money Laundering Regulations 2017 already treats a secure electronic identification process as a reliable and independent source, and Part 2 of the Data (Use and Access) Act 2025 has put the UK digital verification services trust framework on a statutory footing since 1 December 2025.
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Explore the verification infrastructure that organisations across Europe are using to accept digital credentials.