👀 United Kingdom 🇬🇧: Leading UK fintech AccessPay releases 2025 financial trends report

👀 United Kingdom 🇬🇧: Leading UK fintech AccessPay releases 2025 financial trends report

The report is grounded in UK data but highlights trends that may be relevant for professionals in other regions.

➡️ Current State: Only 13% of businesses are fully digitalized, while 69% are undergoing digital transformation, utilizing a mix of manual and digital processes.

➡️ Top concerns among surveyed businesses:

✅ Account name verification, a critical technological priority.

✅ Compliance with new mandatory ISO 20022 data standards, set to take effect in May 2025, requiring financial institutions to include PoP5 and LEI6 codes in all transactions, per the Bank of England.

✅ Rising cases of invoice fraud, which remains a significant challenge.

➡️ Key technological priorities for businesses:

✅ Adoption of verification technologies such as CoP1 or ANV2 (50%).

✅ Increased focus on payment automation (47%).

✅ Deployment of cloud-based solutions (39%).
Interestingly, only 15% of respondents ranked GenAI3 (generative AI) as a top priority. Could this indicate waning interest in artificial intelligence?

➡️ Common types of fraud identified:

✅ Account fraud (60%).

✅ Fraudulent online payments (53%).

✅ Identity fraud (47%).

➡️ Strategies employed to combat fraud:

✅ Staff training in fraud detection (72%).

✅ Implementation of CoP/ANV technologies (58%).
Financial solution providers are increasingly adopting multi-layered approaches to strengthen security.

👉 The AccessPay Finance Trends 2025 report was conducted online between October and November 2024. It surveyed 72 respondents from diverse industries, including financial services, law, retail, and manufacturing.

#information #Europe

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