Vidos Selected for FCA Digital Sandbox Programme to Combat APP Fraud through Digital Identity Verification
London, 19 May 2025 – Vidos, a leading digital identity verification company, has been chosen to participate in the UK Financial Conduct Authority’s (FCA) Digital Sandbox programme. The company will use this opportunity to further develop its technology in the fight against authorised push payment (APP) fraud, a type of bank transfer scam that has cost UK consumers over £460 million in 2023 alone.
Vidos will be focusing on three main areas within the sandbox programme: preventing purchase scams by implementing online seller verification before a payment is authorised, validating transactions to ensure payments are sent to the intended recipient, and allowing customers to share only necessary personal data while still protecting their privacy. These capabilities utilize advanced cryptography and real-time data sharing, equipping banks with a more powerful tool to combat APP fraud while safeguarding customer privacy.
To achieve these objectives, Vidos’ platform utilizes cryptographic techniques such as zero-knowledge proofs, allowing banks and payment providers to verify identities and transactions in real-time without exposing sensitive customer information. The platform also seamlessly integrates with existing core payment systems, enabling smooth identity verification during the payment process.
Tim Boeckmann, CEO of Vidos, stated, “Being a part of the FCA Digital Sandbox is a great opportunity for us to validate our approach in a real-world setting. APP fraud has had a devastating impact on victims, and we are dedicated to finding practical solutions to stop it. By implementing robust digital identity verification, we can protect individuals and businesses from scams without causing inconvenience.”
For more information, please visit https://vidos.id/blog/vidos-joins-fca-digital-sandbox-to-combat-app-fraud-through-digital-identity.
About Vidos
Vidos offers enterprise-grade digital identity and credential verification solutions for financial institutions, fintechs, and other regulated businesses. Built on open standards, including those supporting mobile driving licenses (mDLs/mdocs) and the upcoming EU Digital Identity Wallet, Vidos provides organizations with a single integration point to verify users, detect fraud, and meet compliance requirements while allowing individuals to maintain control of their personal data.
The platform combines decentralized identity technology with privacy-preserving cryptography to deliver real-time, tamper-proof checks on a large scale. Established in London in 2021, Vidos is ISO 27001 certified and works closely with regulators and industry groups to advance secure digital ecosystems.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.