Establish a new company
Supplier onboarding takes weeks when it should take minutes. Credenco replaces stacks of PDFs and email chains with verifiable credentials — issued directly by KVK, Belastingdienst and other authoritative sources, shared in one tap and verified instantly. Whether a freelancer registers on a procurement platform or a brand-new BV is established, every check is pre-verified at the source.
The Challenge
Supplier onboarding is one of the most document-intensive steps in procurement. Before a company can deliver goods or services, the buying organisation must collect and verify multiple documents:
- Chamber of Commerce (KVK) extract — confirming the company is registered and active
- Tax compliance statement — confirming no outstanding obligations with the Belastingdienst
- Insurance certificate — proof of valid liability coverage
- VAT number and IBAN — required for invoicing and payment
Today, this still mostly happens via email: PDFs, scanned copies, manual checking. It is slow, fraud-prone, and hard to scale. Origins are difficult to verify, leading to compliance risk and costly delays on both sides.
The Solution
Credenco replaces document exchange with verifiable credentials. Trusted issuers — the Chamber of Commerce (KVK), the Tax Authority (Belastingdienst), notaries, banks and insurers — issue credentials directly into a supplier's Credenco Business Wallet. When a buyer requests verification, the supplier shares them in seconds. No email, no PDFs, no manual review.
This work is part of the Company Passport initiative — a Dutch public-private partnership between KVK, Belastingdienst, the Royal Dutch Association of Civil-law Notaries (KNB), the Nederlandse Vereniging van Banken (NVB) and Betaalvereniging Nederland. Together, these parties cover all the credentials a business needs to prove its identity and compliance.
- Suppliers collect credentials once — directly from authoritative sources — into their Business Wallet.
- Buyers verify instantly, without requesting documents by email or waiting for callbacks.
- New companies can establish themselves faster, with verifiable registration and banking details available from day one.
Credenco's Role
Credenco is the wallet provider and technical backbone of the Company Passport sandbox. We deliver a production-grade Business Wallet for every participant, together with the Issuer Portals that turn each authority into a credential issuer.
- Business Wallet — eIDAS 2.0 and DIIP v5 compliant, with issuing, verification, revocation, trust lists, key management and DID management out of the box.
- Issuer Portals — pre-built portals for PID, KVK (LPID & UBO), Notary (Deed of Incorporation) and newly developed portals for the Tax Authority and a bank.
- FIDES Credential Catalog & Blue Pages — seamless integration so suppliers can discover authoritative issuers directly from their wallet.
- Keycloak-based IAM — per-portal login with username/password or wallet-based sign-in via OpenID4VP.
At a glance
Sector
Procurement · B2B
Credential types
5 authoritative sources
Onboarding time
From weeks to minutes
Standards
W3C VC · eIDAS 2.0 · DIIP v5
Initiative
Company Passport
Ecosystem Partners
Company Passport brings together the authoritative sources a business needs to prove its identity and compliance — in one interoperable network.
Start a BV in 1 day
Starting a company in the Netherlands today takes about six weeks: a notary draws up the deed, KVK registers the company, the Belastingdienst issues a VAT number, and only then can a bank open a business account. Each step waits on paper from the last one. With the Business Wallet, every authority reads a verifiable credential issued by the previous one — and completes the next step the same day.
- 1 Deed of incorporation issued by the notary
- 2 KVK reads the deed and registers the company
- 3 Belastingdienst reads the KVK extract and issues the VAT number
- 4 Bank reads all three credentials and opens the business account
Impact
Why moving supplier onboarding onto verifiable credentials fundamentally changes the game for procurement teams, platforms and suppliers alike.
Speed
Onboarding time drops from weeks to minutes — credentials are pre-verified at the source.
Trust
Every credential carries a cryptographic signature from the issuing authority, eliminating doubt about authenticity.
Fraud Prevention
Digital signatures and revocation mechanisms make falsified documents technically impossible.
Scale
Works equally for a single freelancer and an enterprise-scale procurement workflow.
Beyond incorporation
Once a business holds these credentials in its Business Wallet, supplier onboarding becomes trivial. Procurement platforms such as FlexProcure — used by clients like Rijkswaterstaat — request KVK, tax, VAT, IBAN and insurance in a single flow. The supplier shares them in one tap, and the platform approves onboarding in real time. No PDFs, no email, no manual review.
Future Outlook
Credenco and its partners are preparing a real-world pilot to test the live exchange of digital KVK extracts and tax compliance certificates. This marks the first step toward supplier onboarding that is fully digital by default. As more authorities — from insurers and banks to government agencies — begin issuing verifiable credentials, the network effect grows: suppliers manage fewer documents, buyers complete more checks in less time, and the entire procurement ecosystem becomes significantly more resilient against fraud.