Summary
Digital wallets now dominate UK payments, accounting for 56% of ecommerce and 33% of point-of-sale value, making their adoption essential for businesses across retail, hospitality, travel and B2B sectors. Payment processors report tangible savings—one subscription service business saved £100,000 annually by switching providers, capital it is reinvesting in customer acquisition and website optimisation.
Fintech firms face escalating cyber threats as criminals deploy AI to enhance phishing, bypass defences and attack machine learning models directly. Managed security services, including threat detection, cloud security and compliance support, have become critical infrastructure for firms managing broad attack surfaces across mobile apps, APIs and third-party platforms.
Post-quantum cryptography and agentic AI represent emerging board-level risks. Financial institutions must catalogue existing cryptographic systems, implement quantum-resistant encryption and establish intent-based identity controls for autonomous agents operating without human oversight, according to security leaders speaking at the event.
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Common questions
- What is this article about?
- MD Fintech 26 convened North West fintech and financial services leaders in June 2026 to discuss the sector's future, with contributors highlighting digital wallet adoption, AI-driven security risks and quantum computing as critical priorities. The event underscored how payment innovation and cybersecurity resilience will define competitive success.
- When was this published?
- This article was published on 9 July 2026.
- Who published this article?
- This article was published by Manchester Digital.