MoneyLIVE London 2025: Unpacking the future of digital identity & AI in financial services
Join industry leaders, tech innovators, and financial institutions as they explore the future of digital identity, authentication, and fraud prevention at MoneyLIVE London 2025.
Chris Hooper
This year's MoneyLIVE London 2025, held at the Business Design Centre, brought together industry leaders, tech innovators, and financial institutions to discuss the evolving landscape of digital identity, authentication, and fraud prevention.
Among the standout discussions was the panel "Unlocking Value with Next-Gen Identity and Authentication," featuring experts from Lloyds Banking Group, BankID, Veriff, and Banco Santander. The session tackled the transformative role of digital identity solutions, AI-powered fraud prevention, and the growing need for collaboration in the financial sector.
With deepfake fraud on the rise and regulatory landscapes evolving, financial institutions must embrace next-generation ID verification (IDV) technologies to stay ahead.
Key takeaways from the panel discussion
1. Streamlining transactions: The power of digital identity in banking
One of the biggest opportunities for banks lies in reducing friction in customer onboarding while ensuring security.
- Faster customer acquisition: Digital identity verification (IDV) enables seamless onboarding, cutting unnecessary steps and increasing conversion rates.
- Fraud prevention & accuracy: Advanced authentication models use AI to learn user behaviors, ensuring only legitimate customers get through.
- Multi-use verification: IDV data can be repurposed for AML/KYC compliance, eliminating redundant checks.
“If you onboard customers securely from the start, you create a trust ecosystem that improves the entire lifecycle of authentication.”
2. The deepfake threat & next-gen fraud prevention
With deepfake fraud and adversary-in-the-middle (AiTM) attacks increasing by 46% year-over-year, panelists highlighted the need for AI-driven solutions to combat fraudsters.
Key threats:
- Impersonation fraud accounted for 82% of all fraudulent attempts in 2024.
- Account takeovers (ATO) increased by 13%, making secure authentication critical.
- Multi-accounting fraud grew by 10%, especially in fintech and crypto sectors.
“Fraudsters don’t see borders. They test one country, move to the next, and evolve their tactics rapidly. Industry-wide collaboration is key.” — Jonas Brannvall, BankID
3. Enhancing customer experience with seamless authentication
Balancing security with user convenience is crucial for financial services.
Key insights:
- AI-powered video verification is more secure than selfies, making it harder for fraudsters to bypass.
- Adaptive authentication reduces unnecessary friction, ensuring good customers enjoy a smooth experience.
- "Airport security analogy": Like a frequent flier pass, returning users should experience minimal friction, while fraudsters face high barriers.
“We found that video verification is not only harder to fake, but also provides better fraud detection insights.”
4. AI, biometrics & the future of authentication
What's next for identity authentication?
Emerging trends:
- AI-powered biometrics: Fingerprint, face, voice, and even palm vein authentication are evolving.
- Short video ID verification is becoming the new standard for proof of personhood.
- Regulatory impact: The EU’s EUDIW (European Digital Identity Wallets) initiative will revolutionize digital identity adoption across banking.
“Regulations like the EU Digital Identity Wallet are reshaping how we integrate authentication across borders.”
5. Build, buy, or partner? The digital ID dilemma for banks
A major discussion point was whether banks should develop in-house ID solutions, acquire them, or collaborate with specialized providers.
🏦 Why partnerships win:
- Banks lack the fraud intelligence networks of large IDV providers.
- AI and ML models require vast datasets—something only dedicated IDV companies can have.
- Network effect: IDV providers process 12,000+ government-issued documents across 230+ countries, making it nearly impossible for banks to replicate such scale.
"By partnering with an IDV provider, banks gain access to global fraud intelligence, making authentication stronger and more scalable."
Final thoughts: Where do we go from here?
The discussions at MoneyLIVE London 2025 highlighted that digital identity is no longer just an onboarding tool—it’s a strategic enabler for fraud prevention, compliance, and seamless user experiences.
Key takeaways for financial institutions:
- AI-powered fraud detection & biometrics are critical to staying ahead of deepfake fraud.
- Seamless authentication enhances the customer experience without sacrificing security.
- Regulations like the EU Digital Identity Wallet will drive new identity verification standards.
- Partnerships with specialized IDV providers offer banks the best fraud intelligence at scale.
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