The deadline for the government grant to Findynet Cooperative has been extended until the end of 2026
The Finnish Ministry of Finance initially awarded a government grant of three million euros to Findynet Cooperative for the years 2022–2024 to build a trust network pilot environment for digital identity. During the years 2022-2024, the cooperative has developed a test network and carried out several experiments related to digital credentials. Since a portion of the government grant remains unused, Findynet applied for an extension. Findynet’s trust network offers individuals and organizations a secure way to share and manage information such as certificates, authorizations, and customer data, improving smooth and trusted interactions across various services.
We are very pleased with the extension, as it gives us the opportunity to continue the long-term collaboration between public and private sector actors in implementing digital identity solutions in Finland. This benefits society as a whole, says Markus Hautala, CEO of Findynet Cooperative
The extension of the deadline allows Findynet Cooperative to complete the pilot projects funded under the government grant decision. It also provides an opportunity for Findynet Cooperative to accelerate the implementation of solutions in Finland that comply with the revised eIDAS regulation. A key requirement of the regulation, which came into force in May 2024, is that EU member states must offer a digital identity wallet that meets the regulation’s requirements by 2026. The wallet enables reliable electronic identification and proof of personal information across the EU, bringing cost and efficiency benefits to both the private and public sectors. In Findynet’s trust network, solutions aligned with the revised eIDAS regulation can already be implemented during 2025.
The Finnish Ministry of Finance’s news release on the topic in Finnish can be found here.
Findynet Cooperative is a non-profit cooperative organisation that brings together public and private sector actors to develop and maintain a general-purpose trust network. The Findynet Trust Network enables both individuals and organisations to share their information securely and seamlessly across a range of transactions.The trust network enables parties to trust who they are dealing with and to ensure that the information used is accurate and reliable. The cooperative’s members include Finance Finland, Finnish Post, Nixu, Nordea Bank, OP Financial Group, Social Insurance Institution of Finland (Kela), Technology Finland, and Tietoevry.
For more information:
Markus Hautala, CEO, Findynet Cooperative, tel. +358 40 182 4299, markus.hautala(at)findy.fi