Verifiable Credentials and Identity Wallets are rapidly gaining attention as a new model for portable, privacy-preserving identity. Yet many organizations struggle to understand when these technologies actually make sense and what capabilities are required to support them. This session moves beyond theory and explores use cases where verifiable credentials provide a clear value - from reusable KYC and trusted digital onboarding to cross-organization identity verification. Building on these scenarios, the session introduces a practical capability framework, explaining what capabilities organizations need in their IAM landscape to enable this technology.