In 2025, trust is paramount for all types of businesses as digital operations are rapidly involved, whether it be client onboarding or digital transactions. In the UK, where data privacy laws and compliance standards are stringent, therefore, choosing the best identity verification company is a business necessity to ensure regulatory compliance and prevent financial crimes. Financial criminals, fraudsters, and cyber criminals keep an eye on vulnerable companies and organisations that are not capable of identifying synthetic identities. They commonly use fake IDs for account opening, financial loans, credit cards, and other quick payment services. Identity verification solution provider that provides advanced technology-based API, easily identifies fake identities, and prevents businesses from financial fraud.
Why Identity Verification Matters More Than Ever?
Fraudsters and financial scammers use synthetic identities across the UK’s digital business operating companies to target them and commit financial crimes.
- As per Reuters news, Britain’s financial sector saw a record 3.31 million fraud cases in 2024, and total losses remained steady at approximately £1.17 billion.
- According to Cifas Fraudscape 2025, identity fraud represented 59% of all fraud filings, totaling nearly 250,000 cases, up 5% year-on‑year. Account takeover (facility takeover) rose a staggering 76%, with over 74,000 cases in 2024. Telecoms were the hardest hit, SIM‑swap fraud increased by over 1,000%, affecting nearly 3,000 mobile accounts.
- In early 2025, 35% of UK businesses reported being targeted by AI-driven fraud (deepfakes, voice cloning, synthetic identity) as per the news of Experian.
- Another news of Experian says that in Q1 2025, nearly £130 million was prevented from third-party identity fraud attempts and it was 10% increase from the previous year.
- A survey by Trustpair shows 93% of UK companies experienced vendor or payment fraud in 2024; 73% expect increased risk during 2025.
The above fraud stats are enough to tell why identity verification matters more than ever for UK companies and organisations. Identity verification is non-negotiable, and there are various other reasons behind it, as follows:
- Compliance with UK laws and international standards like AMLD5, FATF, and GDPR.
- Fraud prevention by ensuring the person or business you’re dealing with is real.
- Faster customer onboarding, improving the user experience.
- Mitigation of financial crime, especially in fintech and crypto platforms.
Aspects for Top UK Identity Verification Company:
Choosing the right identity verification provider is never easy for any business owner, but multiple aspects need to be evaluated.
Comprehensive Identity Verification Checks:
An ideal identity verification provides comprehensive identity verification solutions that assist companies in the UK to conduct KYC(Know Your Customer) and KYB(Know Your Business) checks. It helps verify individual customers, and the KYB solution helps in verifying businesses and their UBOs. If needed AML solution along with a KYC solution in the future then not require to look to another identity verification partner.
Real-Time Verification:
The top identity verification company should provide real-time identity verification. It means your clients won’t face delays during sign-up or onboarding, helping reduce drop-offs and improving engagement.
Advance Technology:
Facial recognition and liveness detection have advanced features in identity verification that assist in thorough identity checks for companies and organisations. Artificial intelligence and machine learning algorithm-based identity verification solutions help to authenticate identities quickly and accurately. It reduces the chances of synthetic identities and prevents financial crimes. Therefore, advanced technology matters a lot while choosing an ideal identity verification company for businesses in the UK.
AML Screening, PEP and Sanctions Checks:
Top UK providers integrate AML screening and check the identity of the client with Politically Exposed Persons (PEPs), global sanctions lists, and adverse media sources. So, look for an identity verification provider that assists in AML screening, sanction lists, and background checks.
Data Security and GDPR Compliance:
The identity verification company must be GDPR-compliant and preferably ISO 27001 certified, ensuring high data protection standards. Person data should be transferred in an encrypted format with Secure Sockets Layer (SSL). Therefore, choose identity verification that is active on data security and GDPR compliant.
Customisable APIs:
API should be easy to integrate with existing apps, platforms, or CRM. An easy-to-deploy identity verification API ensures minimal downtime and quick scalability.
Customer Support:
Customer support is an essential factor that is needed when you get stuck with their identity verification API or face any technical issue. So, choose an identity verification provider that provides 24*7 customer support too.
Multilingual Support:
Choose an identity verification company that provides a multi-language supported identity verification API, which helps for international business operations.
The above aspects will help to choose the identity verification provider among the top identity verification companies in the UK. KYC UK is one of the trusted and reliable KYC companies in the UK that provides comprehensive identity verification solutions for fintech companies, neobanks, insurance companies, forex trading, payment processors, cryptocurrency platforms, telecom companies, online gaming, ecommerce businesses, and other marketplaces. They provide cutting-edge identity verification solutions to enhance customer onboarding, build customer trust, ensure UK regulations, and prevent financial fraud. Investing in advanced technology keeps businesses in the UK ahead of the curve and ensures long-term business growth with a fraud-proof business reputation in the competitive market.