Solutions · For Banking

Verify a customer once. Turn it into a credential the whole sector can trust.

Issuance with Credence lets banks and fintechs run identity proofing to a regulated standard, then issue the result as a reusable digital credential the customer carries - cutting onboarding from days to minutes, without loosening a single compliance control.

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ISO/IEC 18013-5 · W3C VC 2.0 · OpenID4VCI · FIPS 140-3 Level 3 · ISO 27001

A trusted issuer proofs a customer once and signs a KYC credential, which lands in the customer's phone as a verified identity. From there it is accepted by other institutions - another bank, a fintech app and a lender - without re-proofing.

Credentials for modern finance

The onboarding-cost problem nobody has solved

Every regulated institution proofs the same customers, over and over. A person who has been KYC-checked by one bank uploads the same passport scan, the same proof of address, the same selfie to the next bank, the next fintech, the next lender - and each one pays to verify it again from scratch.

Traditional KYC against IwC. Traditionally the customer is re-proofed at every institution - Bank A, Bank B and a fintech each re-verify - costing $50 to $300 per customer each time and taking days of uploads and callbacks. With IwC the customer is verified once and the credential is reused at Bank B and at the fintech, so each becomes one check, a signature verify, in minutes with no re-upload.

Three pressures are forcing the issue.

Regulatory weight

KYC and AML law require customer due diligence at onboarding, sanctions and PEP screening, and ongoing monitoring - increasingly framed as perpetual KYC rather than a one-time check. The obligations only grow.

Customer expectations

People open accounts from their phones and expect approval in minutes. A multi-day proofing process with document uploads and callbacks feels broken next to every other app they use.

Fraud exposure

Synthetic identities, document forgery, and account-takeover attacks are getting more sophisticated. Detecting them at onboarding - before an account exists - is far cheaper than chasing them afterward.

The pain points

From repeated proofing to reusable trust

The status quo taxes both sides of every account opening.

KYC repeated from zero

Each institution rebuilds the same verification the last one already did. No portability, no reuse, no shared trust - just duplicated cost across the sector.

Onboarding friction and drop-off

Every extra document upload and verification step is another point where a customer gives up. Days-long approvals lose applicants who would have converted in minutes.

Fraud caught too late

When identity checks are shallow or bolted on after the fact, forged documents and synthetic identities slip through - and the cleanup costs far more than the prevention would have.

The promise

Faster onboarding, stronger compliance

IwC changes the economics of proofing a customer. Do it once, to a regulated standard, and the verified identity becomes a credential the customer reuses everywhere.

Three checks running before a credential exists: identity proofing covering documents, face match and liveness; AML and sanctions screening at issuance; and biometric verification that a real, present person is enrolling. All three converge on signing in a hardware security module, producing a verified credential that attests to a clean status as of its issuance date.

Onboarding in minutes

A customer already proofed by a trusted issuer presents a verified credential; a new institution confirms it and opens the account in under a minute - instead of days.

Compliance built into issuance

Identity proofing, AML and sanctions screening, and biometric verification all run before the credential is minted. The credential itself attests to a clean, verified status as of its issuance date.

Fraud designed out

Credentials are cryptographically signed in a validated hardware security module. A forged or altered credential fails the moment a verifier checks the signature - there's nothing to detect after the fact.

Your trust layer, simplified

Built for financial institutions. Powered by open standards.

Run proofing, issuance, and verification from one platform, backed by open APIs and controls your compliance team will recognize.

The IwC platform, with no cryptographic build first, reached through three surfaces - the IwC Portal, an open API, and Verify with Credence. The same credential runs down every onboarding channel: the branch counter, onboarding a customer in person; the mobile app, onboarding from the phone they already carry; and fully online, with no branch visit. Underneath all three sits governance and audit - role-based approvals, configurable issuance and revocation policies, and an append-only audit log of every lifecycle event, exportable into compliance and SIEM systems.

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Why it matters for issuers

The value doesn't end when the account opens. A bank that issues a verified identity credential becomes a trusted issuer for the rest of the customer's financial life - and that position compounds.

Become the trusted issuer

When your bank proofs a customer and signs the credential, every downstream institution that accepts it is trusting your verification. You anchor the customer's identity across the sector.

Cut onboarding cost

Verified once, reused everywhere. The $50-300 you would spend re-proofing a customer collapses to a signature check against a credential you can trust.

Reduce fraud and chargebacks

Hardware-signed credentials and proofing at issuance shrink the attack surface for synthetic identity and account-takeover fraud.

Reach the underbanked

Issue a basic identity credential off a single in-branch verification, then let the customer use it to open accounts elsewhere - bringing people into the financial system who couldn't clear traditional onboarding.

What you can issue

Financial institutions issue more than one kind of credential on IwC - each proofed and signed the same way.

One proofing step above four credential types. Every credential is proofed and signed the same way - documents, face match and liveness, AML and sanctions screening, then signed in the HSM. From it come four types. A verified identity or KYC credential: the core credential, a customer proofed to a regulated standard, reusable across the sector with your institution as the trusted issuer. Proof of account: a verifiable attestation that a customer holds an account in good standing, checked in seconds by a landlord, a utility or another bank. Proof of address: a signed address credential the customer presents instead of dragging around utility bills and bank statements. And professional finance credentials: issuer-defined credentials for advisors and brokers - CFA, CPA, CFP status, compliance training - tied to an auditable evidence chain.

How IwC makes it simple

A customer proofs once and carries the result. Here is the shape of it.

The customer enrolls - documents and a selfie captured in the wallet or your own app
Six automated checks run: text extraction, face match, liveness, document authentication, a system-of-record lookup, and a fraud and sanctions screen
A reviewer adjudicates in the IwC dashboard; on approval, the credential is signed in the HSM
The verified credential lands in the customer's wallet, ready to present to any institution that accepts it

Because IwC issues over OpenID4VCI in both ISO 18013-5 and W3C VC 2.0 formats, the credential works with any conformant wallet and any conformant verifier - not just tools carrying our name.

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Customer confidence

Onboarding that customers actually finish

IwC gives financial institutions the tools to serve customers faster while holding the line on compliance. The pitch to the customer is refreshingly simple: stop uploading the same passport scan to every new app you sign up for.

Onboard in minutes, not days

A reusable credential turns account opening into a single verification step - fewer abandoned applications, more completed ones.

Keep data minimal

Selective disclosure means a customer shares only the attribute a check needs - proof of account, or that they are over 18 - never the whole identity file.

Prove status instantly

Proof-of-account and proof-of-address credentials get confirmed in seconds, across institutions, without paperwork.

Bank the unbanked

One in-branch verification opens the door to accounts everywhere, for customers the old process left out.

Cut fraud, protect customers

Hardware-signed credentials and proofing at issuance keep synthetic identities and forged documents out of the system.

Work across borders

Built on ISO and W3C foundations, the same credential is recognized beyond a single institution or jurisdiction - useful wherever a customer's money and identity travel.

Trusted solutions for modern banking challenges

Four financial-sector use cases. Reusable KYC: proof a customer once, then prove it to the next institution. Account opening: approve in under a minute from a trusted credential. Proof of account: confirm an account or address in seconds, with no statements. Financial inclusion: one verification opens accounts for the underbanked.

Ready to transform onboarding?

Working with Credence ID, your institution gets a standards-based credential platform - proofing, issuance, and lifecycle management - backed by proven technology, regulated-grade hosting, and expert support. Get in touch to learn more or to start a pilot.

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Issuance with Credence - Verify once. Trust everywhere. Manage for life.