On November 20th, the Palazzo Cordusio Meliá Hotel in Milan hosted the Identity & Business Day Italy 2025, an event organized by Veridas in collaboration with Sopra Steria, bringing together leaders from the banking, technology and insurance sectors to address one of the biggest challenges of the digital era: identity fraud driven by AI.
Throughout the day, speakers aligned on one key message: it is no longer possible to fight fraud without an integrated approach, based on a combination of advanced biometric technologies, AI-powered detection, and close collaboration between institutions and specialized providers.
The impact of AI on digital identity
With the provocative phrase “Hai subito una frode e non lo sai” (“You’ve been defrauded and don’t know it“), Miguel Ángel Adán, Digital Identity Expert at Veridas, opened the event by demonstrating live how easy it is today to create a synthetic identity in just seconds by combining images from social media.
The numbers speak for themselves:
93% of banking fraud is linked to identity.
3% of digital banking onboarding processes are already affected by advanced injection attacks.
30% of these attacks involve multiple artificially generated identities.
73% of users abandon the onboarding process during the document upload phase.
These figures confirm that attack techniques have become increasingly sophisticated and that financial institutions must strengthen their verification systems to protect both customer security and experience.
RBRs: the new frontier in biometric protection
In her presentation, Arianna Valente, Italy Director at Veridas, highlighted how Veridas solutions are based on Renewable Biometric References (RBRs), a proprietary technology that redefines biometric security.
Unlike traditional templates, RBRs are dynamic mathematical references that are impossible to reconstruct. They adapt to context and can be easily renewed in the event of a breach.
In the financial sector, where deepfake attacks are increasingly common, this technology provides an essential defense to ensure digital trust.
Sopra Steria’s approach: security and user experience
In his talk, Andrea Di Filippo, Director of Financial Services & Insurance at Sopra Steria Italy, emphasized the need for a balance between security, regulatory compliance, and user experience in digital onboarding processes.
As he explained, “it’s not about choosing between secure verification or a seamless experience, but finding the point of convergence between both.” Sopra Steria supports an approach where compliance becomes a competitive advantage, driving technological innovation and user trust in every interaction.
Towards a safer and smarter banking experience
William Bariselli from Google Cloud explained how the rise of generative AI and AI Agents is transforming how banks interact with their customers. These new systems are capable of understanding context, anticipating needs, and automating complex processes—as long as digital identity and security protocols are ensured.
The role of digitalization in Italian banking
The event also featured Giulio Murri, Head of Research and Digital Transformation Coordinator at ABI Lab, who shared the latest findings from ABI Lab’s Digital Banking Observatory, offering a detailed overview of the ongoing digital transformation in Italian financial institutions.
Murri noted that the Italian banking sector has made significant progress in adopting digital services: 65.7% of customers already use online channels, driven mainly by a 120%+ growth in mobile banking since 2018.
Moreover, 78% of banks now offer digital onboarding processes with identity verification via SPID, video selfie, or video call with an operator—showcasing a strong commitment to integrating technological innovation, accessibility and regulatory compliance.
According to Murri, “the real opportunity lies in turning digitalization into a competitive edge, delivering faster, more intuitive and secure experiences that build customer trust and strengthen institutional relationships.”
Regulation and trust: the banking sector’s view
The financial panel featured two authoritative voices: Nicola Cecchetto, Head of Digital Banks Legal Team at BBVA Italy, and Franco Tebaldi, Head of IT Direct Channels at Banco BPM, moderated by Giulio Murri, Co-Head of Research and Digital Transformation Coordinator at ABI Lab. The two speakers offered complementary insights into how European regulations on digital identity are reshaping the strategies of financial institutions.
Cecchetto highlighted the complexity of the current regulatory framework, pointing out that the rollout of initiatives like the EUDI Wallet and the evolution of eIDAS 2.0 represent necessary but still challenging steps. In his view, “the European framework ensures cohesion and security but also demands a significant effort of adaptation. Compliance requirements and supervisory expectations still vary by country, making it difficult to create a true pan-European banking ecosystem.”
For his part, Franco Tebaldi emphasized the strategic value of regulation when approached from a business-oriented perspective. “The EUDI Wallet,” he explained, “should not be seen as a legal imposition but as a lever for innovation. It’s an opportunity to offer customers a smoother, more secure digital experience that strengthens trust and the competitiveness of the European financial system.”
Both agreed that regulation, far from being a constraint, can become a catalyst for transformation, driving new forms of collaboration between banks, institutions, and technology providers. The key, they concluded, is to align compliance, security, and user experience in order to build a more resilient, trustworthy and people-centric banking ecosystem.
A shared success
The Identity & Business Day Italy 2025 concluded with a networking session that underscored the importance of collaboration between technology, regulation and user experience to build a digital future based on trust.
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