4 FinTechs offering AI-powered secure payment solutions in the UK

By Gloria Methri

In the rapidly evolving financial technology landscape, AI-enabled payment solutions are becoming essential for ensuring transaction efficiency and security. With cyber threats growing in sophistication, AI plays a critical role in safeguarding financial data and preventing fraud.

In the UK, a market where digital payments are expected to reach £239 billion by 2025, leveraging AI to enhance payment security is not just an option but a necessity. AI-driven systems can analyse vast amounts of transaction data in real time, detect anomalies, and adapt to new threats, offering robust protection against fraud.

Here are four FinTech companies in the UK that are at the forefront of this transformative trend, delivering advanced, AI-powered solutions to secure payment processes.

• GoCardless

Cardless specialises in Direct Debit payments and has integrated AI to streamline and secure its offerings. The company’s platform uses machine learning algorithms to predict and prevent payment failures, ensuring higher collection rates and improved cash flow for businesses. GoCardless’s AI capabilities also enhance fraud detection by analysing transaction patterns and flagging unusual activities. Their solution is particularly beneficial for companies with recurring payment models, offering a seamless and secure way to manage subscriptions and invoices.

• Pelican AI

Pelican AI focuses on leveraging artificial intelligence to enhance payment security and compliance. Their solutions use AI to detect and mitigate fraud in real time, providing a robust shield against sophisticated attacks. Pelican AI’s technology is designed to adapt to emerging threats, ensuring that financial institutions remain one step ahead of cybercriminals. By offering a combination of transaction monitoring, anomaly detection, and risk assessment, Pelican AI supports secure and efficient payment processing across various platforms.

• Truelayer

TrueLayer offers a powerful API-based platform that connects banks and FinTech applications, streamlining payments and financial data sharing. Their AI-driven solution enhances security by verifying and validating transaction data, ensuring that payments are legitimate and compliant. TrueLayer’s platform also uses machine learning to analyse transaction patterns, which helps detect fraudulent activities and reduce false positives. Their technology is instrumental for developers and businesses looking to integrate secure payment solutions into their applications.

• Vyne

Vyne provides a modern approach to secure payments with a focus on improving the payment experience through AI. Their platform utilises artificial intelligence to enhance security, streamline transaction processes, and reduce the risk of fraud. Vyne’s solution offers real-time fraud prevention by analysing transaction data for suspicious activities and ensuring compliance with regulatory standards. Their innovative approach aims to make payments faster, safer, and more user-friendly for businesses and consumers alike.