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 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 Research Report The City of London Corporation's work in support of financial and professional services: annual review 2024/2025 Jul 2025 - Explore the progress we’ve made in championing the UK’s financial and professional services industry in 2024/2025. The City of London Corporation's work in support of financial and professional services: annual review 2024/2025 News Employer Pension Pledge Jul 2025 - The Employer Pension Pledge aims to enhance the value of pensions by promoting a focus on value for money rather than just cost when selecting pension providers Employer Pension Pledge Research Report The future of financial and professional services investment in the UK Jul 2025 - A proposition for the creation of a financial services Investment Hub, a single national platform to streamline investor engagement and unlock billions in capital for growth. The future of financial and professional services investment in the UK