Background
Under eIDAS 2.0 (Regulation (EU) 2024/1183), every EU Digital Identity (EUDI) Wallet must let individuals sign with a qualified electronic signature (QES), free of charge by default – though some member states may limit free use to non-professional purposes. Member states must offer at least one EUDI Wallet by the end of 2026.
A QES has the same legal effect as a handwritten signature in every EU member state. It is backed by a certificate from a qualified trust service provider (QTSP), listed in the EU trusted lists. For banks, this means that every customer who uses the Wallet can sign a contract with a QES from their phone, without a separate signing tool. The signature is valid across the EU, so the same flow works for customers in every member state.
Banks are not obliged to accept EUDI Wallet signatures, but those that do can make digital contracts simpler for every customer.
A simpler process for everyone
With the EUDI Wallet, banks can collect a legally binding QES for any document, directly in their digital channels.
It works best when combined with other Wallet use cases, such as digital onboarding:
- The customer shares verified identity data from their Wallet.
- The bank prepares the account or loan agreement.
- The customer signs it with the same Wallet, in the same journey.
The result for banks: a cryptographically verified signature with full legal value across the EU, one end-to-end flow from application to signed contract, and fewer abandoned applications.
What banks need to prepare
Signatures sit at the heart of banking: account agreements, loan contracts, mortgage documents, consent forms. Most banks already offer digital signing, but the current setup has limits:
- Inconsistent vetting: Not all market signature solutions are vetted to the same standard as an eIDAS-qualified certificate.
- Cost and vendor dependence: Signature services often come from third-party providers, with licence or per-transaction fees.
- Fragmented, national solutions: Signature tools differ by country. Serving customers from other member states often means extra tools, extra checks or manual steps.
- Drop-offs at the last step: Onboarding and signing often run on separate systems. Every extra app, upload, or code is a point where applications are abandoned.
The Identity Wallet makes signing easier for customers, but banks have to prepare their side:
- Connect to every Wallet: at least one Wallet per member state, plus certified private Wallets, each updated over time.
- Fit signing into existing journeys: send the document to the Wallet and receive the signature back in the bank’s own channels.
- Check and keep the signature: confirm it is a valid QES against the EU trusted lists, and store it so it can be proven later.
- Keep existing routes: customers without a Wallet still need another way to sign.
How does Banfico’s Identity Connect help?
Identity Connect will support EUDI Wallet-based signing. A bank will send a signing request to Identity Connect, which passes it to the customer’s Wallet; the customer approves or declines, and the signed result comes back to the bank’s systems.
Banks already using Identity Connect for onboarding or strong customer authentication will not need a separate integration for signing.