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 News Mansion House Accord May 2025 - The Mansion House Accord aims at securing better financial outcomes for DC savers through the higher potential net returns available in private markets. Mansion House Accord Research Report The UK | a top destination for financial and professional services investment May 2025 - The UK continues to be Europe's most popular destination for foreign direct investment in financial and professional services The UK | a top destination for financial and professional services investment Research Report London RMB Business annual Report May 2025 - The London RMB Business annual Report serves to contribute to the understanding of the London offshore RMB market. London RMB Business annual Report Thought Piece What are the practical steps I need to consider to set up a UK business? May 2025 - This article details eight practical steps to consider when setting up a UK business. What are the practical steps I need to consider to set up a UK business?