Verifiable Digital Credentials, such as Mobile Driver’s Licenses, and Digital Wallets have become the topic du jour and the heir apparent as the next wave of digital identity. The standards and specifications needed to support their use in the online ecosystem are moving along at a breakneck speed [at least as far as standards go]. Yet in all these discussions there is often one set of voices that are highly under-represented in discussions – the relying parties. In 2024 NIST launched a collaboration with members of the financial services industry to explore the critical, unanswered questions around verifiable digital credentials – how do they fit into business processes, how do they support regulatory requirements, what are the benefits and draw backs enabling business growth? This panel will feature NIST and some of the most prominent banks in the country as they discuss their view on VDCs and how they are addressing the emerging opportunities and risks associated with this new technology. This is not another talk about standards, it’s about the real-world implications of innovating as a business and as the owner of a range of risks.