What does a digital identity wallet mean for you and your business — and what is a business wallet?

EXPERT INSIGHTSTIPS
Written By Marvel Consulting Team

You may already have heard about the digital identity wallet and its rollout this year. But what does it mean in practice for you — and for your business? And how does the business wallet fit into the picture? In this blog article, we’ll walk you through the basics and point you toward further information.

What is a digital identity wallet or EUDI?

A digital identity wallet, or EUDI (European Digital Identity Wallet), is a mobile application that serves as a personal digital identity document for individuals. It allows users to control what personal data they store in the application and what information is shared about them in different service interactions.

The digital identity wallet is based on the EU eIDAS Regulation

The digital identity wallet is based on the EU’s eIDAS Regulation, which requires the EU’s member states to provide their citizens with a digital identity wallet by the end of 2026. In Finland, the implementation of the digital identity wallet is led by the Digital and Population Data Services Agency (DVV).

The revised eIDAS regulation requires the EU’s member states to provide a digital identity wallet (EUDI)

The EU’s eIDAS regulation, originally introduced in 2014, was revised in May 2024. The regulation focuses on electronic transactions and electronic identification, including cross-border interactions within the EU. Its goal is to increase trust in digital interactions and enable seamless digital services across the EU. A key obligation introduced by the revision is that the EU’s member states must provide a European digital identity wallet (EUDI) to citizens by the end of 2026.

The digital identity wallet is an app for digital identification

The digital identity wallet is a mobile application that will be provided nationally by EU member states. In Finland, the development of the digital identity wallet is led by the Digital and Population Data Services Agency (DVV). The application is expected to be launched later this year, with more features introduced later in phases. In its initial phase, the wallet will support at least:

  • electronic identification (eID)

  • electronic signatures (eSignatures)

The purpose of the wallet is also to give users control over their personal data; what information they store in the wallet and what they choose to share in different service situations. For example, in age verification scenarios, the user could prove that they are over 18 without revealing their exact date of birth or age. The wallet is also intended to provide a higher assurance level for electronic identification compared to current solutions.

The wallet will also include an official digital identity document: the eID

Alongside the wallet, an official digital identity document, the eID,  will be introduced. This is being developed by the National Police Board in cooperation with the DVV. In the future, this digital identity document may be considered equivalent to a passport or national ID card. It will be an official credential issued by the police.

What the digital identity wallet will not provide — at least initially

Despite its name, the digital identity wallet is not intended to function as a payment instrument. Its purpose is to act as a digital identity wallet, not as a container for payment methods.

Users should also note that, at least in its initial phase, the wallet will not replace physical documents. For example, it will not function as a travel document.

Implications of the digital identity wallet for companies and organizations

The digital identity wallet is not only a citizen-facing development. Rather, it will also introduce new requirements and opportunities for companies and organizations. 

Public sector organizations will be required to accept the digital identity wallet as a strong authentication method by the end of this year. These obligations will extend to other companies and organizations, depending on the industry they operate in, by the end of 2027.

Affected sectors include:

  • transport and energy

  • healthcare and social services

  • digital infrastructure

  • education

What companies should consider as the digital identity wallet is introduced

Digital services are now ubiquitous, so it is worth considering the opportunities the digital identity wallet brings, even if your company is not directly subject to regulatory requirements.

Start by identifying services that require strong authentication or electronic signatures. Could these services support the use of the digital identity wallet? Also consider whether the wallet could improve your service offering more broadly; could it enable a smoother customer journey or more efficient collaboration with partners?

The business wallet simplifies data exchange between companies and authorities

In addition to the digital identity wallet, a business wallet (European Business Wallet, EBW) is being developed for companies, organizations, and public sector entities. The purpose of the business wallet is to simplify data exchange both between companies (B2B) and between companies and authorities (B2G). The business wallet is not the same thing as the digital identity wallet.

The European Commission published a proposal for the business wallet in November 2025. The related regulation is currently under preparation and may enter into force as early as the end of this year, followed by a transition period for implementation in member states. The business wallet would serve as a digital tool for organizations to interact with, for example, public services. It would enable functionalities such as:

  • electronic identification

  • electronic signatures

  • electronic seals 

If widely adopted, the business wallet could generate annual savings of up to €150 billion for businesses.

Find more information 

For this blog article, we have utilized these sources, among others: 

For more information, you can look into the links above!

And remember: if you want help developing your own business and IT to be able to utilize the digital identity wallet, we are ready to find your IT consultant. Just check out our services and get in touch!

Marvel Consulting Team
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