Helsinki, Finland — 8 May 2025 — Mobey Forum’s Digital Identity Expert Group has published a significant new report, Mapping the Business Case: Banks and the European Digital Identity Wallet, providing strategic insights for financial institutions preparing for the future of digital identity in Europe.
Drawing on detailed analysis, expert perspectives, and real-world case studies, the report helps decision-makers in banks understand both the regulatory requirements and the broader strategic opportunities offered by the European Digital Identity Wallet (EUDIW). With the 2026 compliance deadline under eIDAS2 approaching rapidly, banks are encouraged to define their strategies.
“EUDIW is more than a compliance mandate—it is a game-changer for banking innovation,” said Roland Eichenauer, VP Business Development at IN Groupe. “By embracing EUDIW, banks can elevate customer experiences, optimize operations, and solidify their role as trusted digital intermediaries in an evolving financial landscape.”
Market Conditions Shape Opportunities
The report underlines that the strategic approach to EUDIW for banks depends heavily on the maturity of digital identity services in their respective markets:
- In less mature markets, where digital identity services have low penetration, EUDIW offers banks an opportunity to drive digitalisation, create operational efficiencies, and unlock new revenue streams. By leading the adoption of digital wallets and verifiable credentials, banks can embed themselves more deeply into customers’ everyday digital interactions, gaining significant competitive advantage.
- In mature markets, where strong digital identity ecosystems already exist (such as the Nordics and Estonia), the immediate efficiency gains from EUDIW are more limited. Here, banks are recommended look to innovate by developing new trust-based services that go beyond current identity verification processes. Opportunities include improving cross-border onboarding, enabling new types of digital proofs, and creating value-added services built on secure, verifiable data sharing.
These market-driven differences are illustrated through practical examples and case studies in the report, demonstrating how banks can tailor their EUDIW strategies to local conditions.
Preparing for a Fundamental Shift
While EUDIW will bring direct benefits such as lower operational costs in onboarding and authentication, its true impact is much more profound. The report emphasises that building a “traditional” business case for EUDIW is challenging. Instead, its business value will emerge over time through increased availability of high-assurance digital attestations, enabling new ecosystems for trust-based services and innovative mechanisms in areas like KYC, AML, contracts, and regulatory compliance.
“The transformative potential of EUDIW lies not only in compliance but in redefining the bank-customer relationship,” said Elina Mattila, Executive Director of Mobey Forum. “Banks should think beyond today’s processes and imagine new value propositions for the digital future.”
The full report, Mapping the Business Case: Banks and the European Digital Identity Wallet, is available for download HERE.
About Mobey Forum
Mobey Forum is a not-for-profit, member-based knowledge and networking platform that focuses on emerging technologies and business models in digital financial services. We connect banking practitioners around the world who are navigating similar challenges within their organisations and provide a trusted environment for sharing practical and behind-the-scenes information among members. Our Member Meetings and other activities enable our members to gain clarity on the latest trends and create content that shapes the industry. Familiar names in our membership include HSBC, Nordea, DNB, CaixaBank, Erste Group, UBS, RBC, and Visa. More about us: www.mobeyforum.org
For further information, please contact Annamária Búriová (annamaria.buriova@mobeyforum.org).
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