Opening a bank account remains one of the most time-consuming digital processes for customers. Proof of identity, manual data entry, and numerous verification steps lead to high abandonment rates and rising costs. The EUDI Wallet fundamentally changes this. Customers share their already verified identity and master data directly from a trusted source. The bank receives verified information in seconds, reliably meets regulatory KYC and AML requirements, and drastically reduces onboarding effort. This results in faster, more secure, and more user-friendly onboarding, which represents a clear competitive advantage in digital banking.

Here’s how it works in practice:

Step 1: Start the onboarding process 100% digitally on the bank's website.
Step 1: Start the onboarding process 100% digitally on the bank's website.
Step 2: With the EUDI Wallet, new customers do not need to enter any personal information. This information is retrieved directly from their wallet.
Step 2: With the EUDI Wallet, new customers do not need to enter any personal information. This information is retrieved directly from their wallet.
Step 3: In the wallet, users can verify that the requesting party is a verified bank, which provides an additional layer of security. They can also review the requested personal information and consent to its disclosure.
Step 3: In the wallet, users can verify that the requesting party is a verified bank, which provides an additional layer of security. They can also review the requested personal information and consent to its disclosure.
Step 4: By retrieving data from the wallet via a secure protocol, the risk of receiving tampered data is minimized.
Step 4: By retrieving data from the wallet via a secure protocol, the risk of receiving tampered data is minimized.
Step 5: The contract is drafted based on the data and sent to the customer for signature.
Step 5: The contract is drafted based on the data and sent to the customer for signature.
Step 6: The bank account is opened entirely online, and the onboarding process is streamlined by using pre-validated data from a secure source, the EUDI Wallet.‌
Step 6: The bank account is opened entirely online, and the onboarding process is streamlined by using pre-validated data from a secure source, the EUDI Wallet.‌

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