FINTECH STRATEGIES
In practice, that means earlier identification of risk, intervention before losses crystallise and a significant reduction in manual handling. Autonomous fraud defence is becoming operational, but most institutions have not yet scaled it.
Synthetic identity fraud raises the stakes Synthetic identity fraud highlights why this matters. These identities are constructed, not stolen, often over extended periods, designed to pass conventional checks. By the time they are used, they appear legitimate. Static controls struggle because there is no single failure point to detect.
Addressing that risk requires a deeper understanding of behaviour and networks and in particular how identities evolve, how they connect and where patterns diverge over time. It also requires more fluid data sharing across institutions and sectors.
There is also a global comparison. The UK positions itself as a leader, particularly given its stance on reimbursement. But innovation is progressing quickly elsewhere. Markets such as India and Brazil are building integrated ecosystems with real-time payments, digital identity and fraud controls designed together. Their advantage is coherence, solving at system level rather than layering controls onto legacy environments. The aim of the UK’ s National Payments Vision is to put UK retail payments infrastructure on a similar footing as part of the Government’ s growth and investment
“ The UK positions itself as a leader, particularly given its stance on reimbursement. But innovation is progressing quickly elsewhere”
Oliver Hanmer Head of UK Financial Crime Capgemini
agenda, but time is not on the UK’ s side particularly given the pace of innovation we are seeing globally. The UK therefore starts from a more complex base. That makes execution harder, but also more urgent. Tightening controls within banks alone will not change the trajectory. Prevention must move earlier in the value chain and responsibility has to be more evenly distributed.
Fraud is becoming more industrialised, reimbursement is anchoring cost within financial services, and regulation is pushing for broader accountability. The strategy sets direction – delivery now depends on whether the ecosystem responds as a system. First movers will not just reduce losses. They will define what trusted growth looks like in a market where speed and safety have to coexist. fintechmagazine. com 79