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 The UK Investment Landscape Sep 2025 - This report demonstrates the strength of the UK financial services industry. The analysis maps the sources and destinations of £3.9tn of investment capital in the UK. The UK Investment Landscape Research Report Transition Finance Council: Mid-year progress report Sep 2025 - This report offers a snapshot of the Council’s first six months: what we’ve achieved, the lessons we’ve learned, and the path ahead. Transition Finance Council: Mid-year progress report Research Report Sector Transition Plans: The Finance Playbook Sep 2025 - Practical guidance on integrating strong finance plans within sector transition plans and technology scale-up roadmaps. Sector Transition Plans: The Finance Playbook 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