Why this matters

Corporate banking still relies heavily on repeated verification. Companies provide corporate documents, representation rights and mandates to individual banks, while users authenticate through a mixture of passwords, tokens, smart cards and mobile applications. The EUDI Wallet introduces the possibility of replacing parts of this fragmented landscape with trusted digital credentials.

The challenge is that corporate banking requires more than confirming identity. Banks also need to understand which organisation a person represents, what authority has been delegated to them and which specific actions they are permitted to perform. A trusted digital identity therefore only becomes truly useful when authentication and authorisation can work together.

This makes EUDI relevant well beyond onboarding. Combined with the proposed European Business Wallet, it could influence access management, mandate processes, payment approvals and the exchange of trusted corporate information. For banks, the strategic question is how these new trust mechanisms could eventually become part of the digital banking experience.

Key Takeaways

Digital identity could become operational infrastructure

EUDI should not be viewed solely as another onboarding or compliance mechanism. Its broader potential lies in supporting recurring banking interactions in which users need to identify themselves, authenticate securely and demonstrate that they are authorised to perform a particular action.

Authorisation matters as much as authentication

Knowing who a user is does not tell a bank whether that user can approve a payment, sign a mandate or represent a subsidiary. Corporate banking therefore needs trusted identity to connect with delegated authority, approval rules and the specific context of each transaction.

Business wallets could reduce document-based processes

The proposed European Business Wallet could allow organisations to prove corporate identity, exchange trusted credentials and demonstrate representation rights digitally. If realised, this could reduce reliance on repeatedly exchanging, certifying and validating the same corporate documents across different banking relationships.

EUDI becomes more relevant when initiatives converge

EUDI, European Business Wallets, PSD3 and FiDA address different parts of the digital banking environment. Their larger potential emerges when trusted identity, authentication, corporate authority, consent and data access can work together as components of a more coherent interaction model.

In this Episode

We explore how digital identity and trusted credentials could change corporate banking across:

  • corporate onboarding and KYB
  • user authentication
  • delegated authority
  • mandate management
  • payment approvals
  • corporate credentials
  • PSD3 and FiDA

The central question is not simply whether banks can digitise another identity process, but whether Europe is creating a common trust layer that could connect identity, authentication and authorisation across the corporate banking relationship.
 

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