* Digital identity verification pioneer focuses on purchase scam prevention, transaction verification, and privacy-first data sharing

LONDON - Vidos, a digital identity verification company, has been selected to participate in the UK Financial Conduct Authority's (FCA) Digital Sandbox programme. Vidos will use this opportunity to advance its technology in the fight against authorised push payment (APP) fraud, a type of bank transfer scam that cost UK consumers over £460 million in 2023.

Vidos will focus on three fronts in the sandbox: preventing purchase scams by enforcing online seller verification before a payment is authorised; validating transactions so payments reach the intended, legitimate recipient; and allowing customers to prove only critical details needed without revealing excess personal data. These capabilities combine advanced cryptography with real-time data sharing, giving banks a stronger toolkit against APP fraud while preserving customer privacy.

To achieve these goals, Vidos' platform uses cryptographic techniques such as zero-knowledge proofs, allowing banks and payment providers to authenticate identities and transactions in real time, without exposing customers' personal details. The solution also integrates with existing core payment systems, enabling seamless identity verification during the payment process.

"Being part of the FCA Digital Sandbox is an opportunity for us to validate our approach in a realistic setting," said Tim Boeckmann, CEO of Vidos. "APP fraud devastates victims, and we're focused on practical ways to stop it. Robust digital identity can protect people and businesses from scams without adding friction."

To find out more, visit https://vidos.id/blog/vidos-joins-fca-digital-sandbox-to-combat-app-fraud-through-digital-identity.

About Vidos

Vidos provides enterprise-grade digital identity and credential-verification solutions for financial institutions, fintechs, and other regulated businesses. Built on open standards-including those underpinning mobile driving licences (mDLs/mdocs) and the forthcoming EU Digital Identity Wallet-Vidos gives organisations a single integration point to verify users, detect fraud, and meet compliance obligations while letting individuals keep control of their personal data.

The platform combines decentralised identity technology with privacy-preserving cryptography to deliver real-time, tamper-evident checks at scale. Vidos, founded in 2021 in London, is ISO 27001-certified and works closely with regulators and industry groups to advance secure digital ecosystems.

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