Posted: 25 Mar 2025 Resource Type: Research Report Download Back The UK is at a pivotal moment in its journey to becoming a world-leading digital first economy. Digital verification (DV) is the foundation of a seamless, secure financial ecosystem, with DV technologies essential for ensuring that individuals and companies can securely prove their identities and credentials in the digital age. Securing growth: the digital verification opportunity puts forward a plan to create a scalable digital verification system (DVS). It focuses on verifying individual consumers who use financial products and services. The research shows that a secure, scalable, DVS could unlock huge economic value, boost security, reduce fraud, and streamline financial services. Key Takeaways: A secure DVS could unlock £1.8bn in economic value by 2031. Stronger verification measures could reduce fraud losses by at least £3bn. Investing in digital infrastructure will drive further innovation and funding. Establishing an independent service, to act as a trusted mid-point, would enable information to be shared securely between customers and institutions. The report recommends this entity is created in partnership between the public and private sectors. Clear regulations under the Data (Use and Access) Bill will provide industry certainty. Faster, more secure onboarding and compliance will improve efficiency and customer experience. Potential Benefits of DV adoption in the UK Why should the UK adopt DV now? Produced in collaboration with EY. Becoming a digital-first economy Innovation that expands boundaries Innovation that expands boundaries Share: Share to LinkedIn LinkedIn Share to X Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Download Related content Research Report UK India Infrastructure Financing Bridge Sep 2025 - This first annual report captures the UK–India Infrastructure Finance Bridge (UKIIFB) Year One learnings UK India Infrastructure Financing Bridge Thought Piece The Innovation and Technology Dinner 2025 Sep 2025 - Bringing together over 200 senior leaders from the FS and tech sectors for the Innovation and Technology dinner, an annual event where we celebrate the City’s vital tech sector. The Innovation and Technology Dinner 2025 News Quantum Computing Hackathon Aug 2025 - Take part in a first-of-its-kind Quantum Hackathon focused on transforming UK financial services. Quantum Computing Hackathon Thought Piece Baku to Belém: Reflections from Net Zero Delivery Summit 2025 Jul 2025 - The Net Zero Delivery Summit marks the crucial halfway point between climate COPs. The message of the day was a celebration of action, and championed the central role of finance in the path to net zero. Baku to Belém: Reflections from Net Zero Delivery Summit 2025