Signicat announces the integration of ID Austria into its comprehensive eID and Wallet Hub.
According to the company, this expansion allows European businesses to securely onboard and verify the identity of over 4.8 million Austrian users, representing 60% of the country’s adult population.
Integration
The integration allows Signicat’s customers to easily offer Austrian users a trusted, government-issued method for identity verification.
This is especially critical for businesses in regulated industries such as banking, finance, insurance and telecom, who must deal with a complex world of local and international compliance rules.
The company reported that by adding ID Austria to other remote identity verification methods like NFC technology, companies can ensure they meet the requirements of eIDAS, the upcoming Anti-Money Laundering Regulation (AMLR) and local Financial Markets Anti-Money Laundering Act (FM-GWG, Finanzmarkt-Geldwäschegesetz).
“The strategic bridge”
Allard Keuter, Head of Authentication & Wallets at Signicat commented: “With eIDAS 2.0 and the Anti-Money Laundering Regulation set to reshape the market by 2027, companies need to prepare for a mixed environment.
“For several years, they will have to support the national eIDs that millions of people, like those in Austria, use and trust today, but they also have to prepare for the EUDI Wallet of tomorrow.
“We are effectively building the strategic bridge through what we expect to be an organised chaos.
“So a fintech in Portugal can accept both the EUDI Wallet from users in Portugal and ID Austria from users from Austria, as well as EUDI Wallet users from Austria,” he concluded.
Digital ID
Austria’s high-adoption digital ID is seen as the foundation for the country’s future EU Digital Identity Wallet.
According to signicat, its platform can now connect over 35 national electronic IDs and processes over 500 million transactions a year, providing a single API to manage this complexity.
By adding ID Austria, the company provides access to a large market and prepares its clients for the future Austrian EUDI Wallet.
Signicat highlighted that this wallet will be created by updating the current ID Austria and eAusweise apps with the open-source Valera wallet technology.
“A complex web”
Asger Hattel, CEO at Signicat said: “Businesses are at a critical juncture, facing a complex web of national and international regulations.
“The real challenge for Europe isn’t just creating a digital wallet, it’s ensuring it can connect to the legacy systems people already use.
“Our strategy is to build the unified layer that makes cross-border business simple,” he added.