AI and the Human Touch

In 2020, an estimated £1.26 billion was lost to fraud in the UK. In the last 13 months, a staggering 449,687 incidents of fraud were reported to the National Fraud and Cyber Crime Reporting centre. It's clear that the domestic financial services industry has a huge problem -- and current strategies to mitigate it are not working. The financial industry in the UK has, like all industries, seen a huge acceleration in digital transformation over the past two years. The pandemic forcibly increased the pace of the transition to all manner of digital interactions, including online banking.