Authologic has become the first Polish company registered to issue Electronic Attestations of Attributes (EAAs) for European Union Digital Identity Wallets. Its registration provides an early example of how the European framework could affect financial-sector identity checks.
The registration, granted by Narodowy Bank Polski, allows Authologic to issue and verify EAAs. These cryptographically signed credentials enable people and organisations to share verified information through an EU Digital Identity Wallet.
The capability is available now and can be tested through Authologic’s European Union Digital Identity (EUDI) Playground. The company is also participating in financial-institution onboarding pilots and the EU-funded WE BUILD consortium.
Moving Beyond Document-Based Identity Checks
EU Member States must make at least one EUDI Wallet available from December 2026 under the revised Electronic Identification, Authentication and Trust Services Regulation, known as eIDAS 2.0.
The wallet will allow its holder to store and present identity information and other credentials electronically. A bank or investment firm receiving a credential can check its issuer, integrity and validity without asking the client to upload another copy of the underlying document. Possible applications include bank authentication credentials, employee badges, payment credentials and proof of professional status.Applying Wallet Credentials to Institutional KYC
Institutional KYC checks involve a legal entity and the people connected with it. Firms may need to identify directors, beneficial owners, trustees, authorised traders, account administrators and signatories.
Authologic said its credentials could verify directorship, beneficial ownership, professional status and an individual’s authority to act for a legal entity. A client representative could therefore present identity data alongside evidence of their role and signing authority.
This could reduce repeated requests for personal and corporate documents during onboarding and periodic reviews. Firms would still need to decide which issuers they trust and whether the credential provides enough information for the control being performed.
Currency presents another issue. Directors leave, mandates change and powers of attorney are withdrawn. Firms will need to check whether a credential remains valid and how quickly a change at the original source leads to revocation or replacement.
Authologic tells RegTech Insight it is currently conducting pilot projects related to the onboarding process for financial institutions”, including banks. It has not named the institutions involved. Its EUDI Playground also demonstrates identity verification, Strong Customer Authentication, payment approval, account mandates and digital signing.Private Banking and Corporate Treasury
Private banking may provide an early application because onboarding starts with individual identity but often extends into trusts, family structures and corporate vehicles. Wallet credentials could help verify high-net-worth clients, trustees, attorneys and authorised advisers across several banking relationships.
Corporate treasury presents related uses. Credentials could identify employees accessing banking systems, confirm their authority under an account mandate and support payment approvals. They could also provide an auditable record of who authorised an instruction and under which authority.
Identity Verification Is Only Part of KYC
Wallet credentials don’t replace the risk-based part of the process. Financial institutions must still assess the customer, understand the purpose of the relationship and conduct ongoing monitoring. Sanctions and politically exposed person screening remain separate controls. Source-of-funds and source-of-wealth enquiries will also continue where required.
Authologic’s pilots would demonstrate how reusable credentials address a longstanding source of friction in institutional KYC. Clients are frequently asked to supply the same information in different formats as compliance, operations and business teams conduct their own checks.
At scale, wallet-based credentials could allow verified identity, ownership and authority data to be supplied once and shared with permitted teams throughout the review. That could shorten onboarding and periodic reviews, reduce repeated client requests and improve the relationship from the outset, while leaving risk assessment and approval with the institution.
Subscribe to our newsletter
