eIDAS decision: A Significant Leap Towards Europe's Digital Future

The EU Parliament approved the reform of the eIDAS regulation on the 29th of February, marking a pivotal moment for the development of the digital markets and setting the course for the future of electronic dealings. The reform introduces a pan-European solution for the management and sharing of electronic identity information across all member states. Findynet Cooperative has been a pioneer in the digital identity domain in Finland, positioning the country as a leader in this area within the EU.

Written by Markus Hautala, CEO, Findynet Cooperative

eIDAS revision and its impact

The revised eIDAS regulation approved by the European Parliament on February 29 aims to standardise electronic authentication and verification practices throughout the EU. With the reform, all member states are obliged to provide their residents with easy-to-use digital wallets by 2026, with the goal of broad sectoral adoption by 2027. This regulation is expected to impact various sectors, including transport, banking, healthcare, and education, as well as major online platforms, signifying a significant shift towards unified digital markets. The European digital wallet, enhancing privacy protection, is expected to be in use by approximately 80% of the population by 2030 and is believed to generate economic value equivalent to 2-3% of the GDP.

Findynet Cooperative’s role in pioneering digital identity

Since 2017, Findynet Cooperative and its predecessor consortium have been advancing digital identity solutions. We have closely followed the development related to the European digital identity (EUDI) and are also participating in the pilot of European wallet applications as a member of the EU Digital Identity Wallet consortium. Thanks to the close cooperation between the public and private sectors within Findynet, we believe Finland is 2–3 years ahead of the rest of the EU in developing digital identity solutions.

Currently, Findynet is focusing on implementing use cases that can be adopted even before the eIDAS revision enters into force. A prime example of such a use case is the project we have initiated with HSL (Helsinki Region Transport) and Kela (The Social Insurance Institution of Finland), aimed at digitalise the pensioner certificate needed for pensioner discounts in HSL public transport. Traditionally, pensioners have had to apply for a certificate from Kela and bring it to an HSL service point to receive the discount. Our project is designing a seamless process using digital wallets and certificates, allowing customers to manage their affairs from the comfort of their own home without visiting two service points.

Join us!

At Findynet Cooperative, we help organisations identify the business potential of digital credentials, such as enhancing customer experience, streamlining processes, and increasing transaction security. We aim for individuals and organisations to transact smoothly and securely. To this end, we offer tools to increase trust in transactions and help develop common operating models and rules among different actors.

We invite organisations to collaborate with us and leverage Findynet’s expertise in implementing EUDI-compatible national projects. Contact Findynet Cooperative for more information, to participate in our upcoming webinars, or to discuss collaboration opportunities. By joining our collaboration, your organisation becomes part of a community shaping the future of digital identity in Finland and the EU.

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