Prototyping the European Business Wallet: Real-World Value Before the Mandate

Europe is entering a new era of digital trust infrastructure for businesses. The European Commission’s European Business Wallet (EBW) proposal outlines a future where companies can finally use secure digital documents to prove who they are, share trusted information instantly, and simplify complex legal and onboarding tasks across borders with full legal recognition.

While much of the EBW system is still under design, companies do not need to wait for final legislation to start benefitting from a more secure digital identity. In fact, the most competitive organizations are already building the foundation. A prime example of this early adaptation is VerumID, a platform built on Truvity infrastructure that brings the vision of the main concepts of EU Business Wallet to life today.

What Is EBW And What It Can Enable For Real Businesses

At its core, the European Business Wallet acts as a secure digital identity for your entire organization. It is often misunderstood as simply a "corporate version" of the mobile Digital Identity Wallet that will be made available to citizens later this year.

However, the Business Wallet is not a mobile app, but rather an enterprise-grade system integrated into an organization’s core IT and compliance infrastructure. Rather than living on a smartphone, it typically functions as a secure backend anchor, integrated into ERPs or CRMs, and is accessed through internal dashboards to manage company credentials, authorizations, and trusted digital interactions.

The Current Reality: Fragmented and Burdensome

Today, companies are trapped in a cycle of inefficiency:

• Submitting the same corporate documents multiple times to different authorities.
• Relying on slow, paper-based, or manual checks that delay transactions.
• Sharing sensitive data through email or proprietary portals that offer limited guarantees of authenticity.
• Relying on fragmented registries that lack cross-border interoperability.

The Consequences: Slow onboarding (often taking up to 50 days in banking), massive compliance overhead, friction in international partnerships, and rising operational costs.

The Vision: Simplicity by Design

The EBW vision aims to solve these exact pain points through:

• Instantly proving legal identity and corporate attributes across EU borders.
• Allowing financial institutions to verify business credentials without manual processing.
• Sharing credentials and attestations through a trusted, cryptographically secure channel.
• Reusing verified information across multiple services instead of starting from scratch every time.

This perfectly aligns with the EBW goal of 35% reduction in administrative burden. VerumID, built on Truvity infrastructure, is a live example of this logic.

A Practical Experiment: VerumID as an EBW-Inspired Prototype

VerumID demonstrates how private companies can benefit from European Business Wallet principles today, even before it becomes fully live.

They are already proving that reusable identity and instant verification work for businesses today, solving the real-world problem of trust in the B2B sector. By using Truvity’s infrastructure, VerumID has replaced slow, manual paperwork with a model where businesses can instantly authorize requests and verify the authenticity of every individual behind a transaction. As a result, it ensures that every exchange is secure, portable, and compliant with regulations.

VerumID in Practice

VerumID uses Truvity’s modular infrastructure to solve four critical friction points in banking and legal workflows:‍

1. Closing the "Fraud Gap" in Communication

In sectors like banking, reliance on email, phone calls, and messages creates massive vulnerabilities to spoofing and scams. VerumID replaces these insecure channels with identity-linked request flows.

The Outcome: Every request is performed by a verified individual, eliminating the fraud risks inherent in manual B2B communication.

2. Adaptive Compliance (KYC)

Banking requirements are always changing. VerumID utilizes Truvity to update its workflow logic without needing to rewrite code every time.

The Outcome: VerumID adapts to new regulations in real-time, maintaining compliance with zero downtime.‍

3. The Lifecycle of Trust

Business trust is not a one-time event. VerumID manages the full lifecycle from creating draft credentials to updating and issuing them the moment a service is completed.

The Outcome: This eliminates administrative delays. The business credential is ready and verifiable the second the work is done.

4. Verified Authenticity for High-Value Transactions

In wealth management, the primary risk is confirming exactly who authorized a request. By linking every transaction to a verified corporate identity, VerumID automates what used to be a slow, manual verification process.

The Outcome: High-value requests are transformed into an automated, instantly auditable data exchange that meets strict enterprise standards.

Want to explore the VerumID case study? Read it here.

Why Prototyping Matters Today

Prototyping now allows organizations like VerumID to test how these new principals work in real life, uncovering clear financial benefits and business value well before the regulatory deadline arrives.

Mastering "Reusable Identities"

The most immediate opportunity for banks is the move toward reusable identities. While most focus on customer KYC, there are more use cases companies can “compete” on and create a better user experience, like Employee Verification.

• The Use Case: Imagine an employee calling a high-net-worth client. Today, the client usually has no way to be sure it's really the bank calling.
• The Solution: By using a reusable digital identity, the employee can instantly "sign" the call or message with a verifiable credential. This proves the bank’s authenticity to the customer, instantly eliminating the risk of phishing and fraud.

Shaping the Standard

By becoming an early mover, you do more than just "comply" – you help define how the secure workflows in your industry will actually work. Starting now gives you the power to design the standards that others will eventually have to follow.

Future-Proofing for eIDAS 2.0: Why the Best Time to Prototype is Now

The technology for the European Business Wallet is already in production. Prototypes like VerumID prove that you can cut costs and eliminate fraud by adopting reusable business identity principles today.

There is no reason to wait for a mandatory deadline. Now is the ideal time to work on a Proof of Concept (PoC) and see how your organization can integrate with the emerging EUDI Wallet ecosystem.

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