Use Cases
Discover real-world examples of digital wallets and verifiable credentials in action — passwordless login, age verification, digital travel, cross-border and public services, and more. Learn from proven patterns, compare approaches, and reuse what works instead of starting from scratch.
Business Wallet-Based KYB & Financial Onboarding
by Hovi
A company representative opens a business bank account in an EU member state where the company is not registered, using verified credentials from an EU Business Wallet instead of uploaded documents. KYB today is manual, document-based and national: banks chase register extracts across jurisdictions, verify signing authority and ownership by hand, onboarding runs to days or weeks at high cost and drop-off, and forged documents remain a fraud vector. Here the founder presents a Legal Person Identification Data credential and a European Company Certificate, plus a PID or mandate proving authority to act. Issuers are national business registers and competent authorities such as PRH in Finland; the holder is the company through an authorised representative; the verifier is the bank or fintech; Hovi provides the issuance and verification layer; supervisors and EU trust lists anchor trust. The wallet is the consent point, showing who is asking and for what, and releasing only approved attributes through selective disclosure. The result is same-day onboarding, register-sourced data, a stronger AML audit trail and one pattern that works across all 27 member states.
- Sector
- Finance
- Country
- Finland
- Production deployment
- No
- More information
- https://businesswallet.hovi.app
- Last updated
How it works
1. The founder starts a business account application on the bank or fintech platform and selects "verify with EU Business Wallet" instead of uploading documents.
2. The platform sends a presentation request through Hovi's verification layer, specifying the attributes required for KYB and AML.
3. The request reaches the wallet. Delivery can be triggered in-session by QR or deep link, or out of band by email or SMS, and can be combined with national eID authentication such as FTN or BankID where required.
4. The founder reviews the request in the wallet: who is asking, which attributes, for what purpose.
5. On approval, the wallet presents the LPID and ECC credentials, plus the representative's PID or mandate, over OID4VP in SD-JWT VC or mdoc format with selective disclosure.
6. The verification layer checks issuer signatures, credential validity and revocation status, and the issuer's presence on the EU trust list, then returns a structured, verified result to the platform.
7. The platform completes KYB, screens the disclosed ownership data against AML requirements, and provisions the account. The verification result is retained as an audit record.
Tags
- EU Business Wallet
- EUDI Wallet
- eIDAS 2.0
- KYB
- KYC
- AML
- LPID
- European Company Certificate
- Verifiable Credentials
- Digital Identity
- Bank Account Opening
- Cross-Border Onboarding
- Financial Services
- Fintech
- OID4VP
- SD-JWT VC
- Selective Disclosure
- Regtech
- Trust Infrastructure
- Onboarding Automation
Interaction modes
- Remote flow
VC formats
- SD-JWT VC
Issuance protocols
- OpenID4VCI
Presentation protocols
- ISO 18013-7
- OpenID4VP
Interop profiles
- EUDI Wallet ARF
- HAIP v1
Personal wallets used
- Hovi Wallet
Business wallets used
- Hovi Business Wallet
Issuers involved
- Kyckr
- NGI Bank
- VREX
Credential types used
- LPID Attestation
- EU Company Certificate
Relying parties
- VREX
- NGI Bank
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The FIDES Use Case Catalog aims to provide a clear and up-to-date overview of how verifiable credentials and digital wallets are used in the real world. While FIDES Labs BV does not assume responsibility or liability for the completeness, accuracy, or timeliness of the information presented, we have made a best effort to compile a representative overview. The data is aggregated from publicly available sources and from information published by the organisations themselves.
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