13% of UK consumers are classified as early adopters of AI, with 62% highly aware of AI and 66% reporting it has improved their banking experience in 2025.

48% of UK consumers express concern about the risk of fraud or identity theft related to AI in banking.

23% of UK consumers cite fraud detection and prevention as the most positive impact of AI in banking in 2025.

38% of banks expect their identity verification budgets to grow by 21-50% in the coming years.

76% of banks and 78% of fintech companies reported needing more personnel to manage fraud risk effectively.

30% of banks reported that they face synthetic identity fraud, which blends fake and real personal data to bypass verification.

46% of respondents reported that up to 75% of banking identity verification processes are currently automated.

26% of banks and 32% of fintech companies reported facing cases where users presented counterfeit or altered documents.

71% of banking respondents indicated that fraud prevention is a priority for their organization.

25% of traditional banks rate their fraud prevention as significantly ahead of competitors..

33% of banking respondents are evaluating AI-powered fraud detection tools.

27% of individuals whose online bank accounts have been hacked experience victim blaming.

42% of students would trust their bank more if it used biometric identity verification instead of passwords.

47% of financial and banking organisations in the UK have reportedly spent more than one million euros over the last two years on implementing regulations such as DORA and PRA.

28% of financial and banking organisations in the UK have reportedly spent between €501,000-€1,000,000 on implementing regulations such as DORA and PRA.