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The Future of Digital Trust: Establishing the Foundations for a Resilient, Efficient, and Safer Online World report, created by LexisNexis® Risk Solutions in partnership with market research experts Savanta, explores why getting digital trust right is going to be crucial in 2025. 

Based on interviews with 30 senior leaders across banking, payments, and telecommunications, the report identifies key themes such as ensuring resilience in the face of replacing legacy technology, why collaboration is becoming even more essential, and why addressing issues around customer transparency have become significant barriers to achieving trust.

Legacy tech: The Achilles heel of digital trust

"One of the biggest barriers to digital trust is probably how much legacy technology you have holding you back," says one respondent in the report. Outdated systems often undermine security and customer experience, leaving financial institutions vulnerable to fraud and erosion of trust. For many banks, the cost and complexity of replacing legacy systems make it difficult to modernise, despite the urgent need to do so. This report identifies ways to engage tech vendors to address some of these concerns. 

Collaboration as a catalyst

The report highlights collaboration as a critical strategy for overcoming digital trust challenges that focus on fraud and identity authentication. Federated trust systems and shared fraud intelligence networks allow banks to pool resources and enhance customer security. However, fear of data sharing and competitive risks remains a barrier. Advanced techniques like tokenisation offer a way forward, enabling secure compliant data sharing. This report helps to illuminate why collaboration has become such a key ingredient in future success of getting ahead of these challenges. 

Transparency and regulation

"Being open and transparent builds relationships and enhances trust," the report states. For financial services, this means clear communication about how customer data is used and protected. Regulatory frameworks like GDPR, PSD2, and Consumer Duty also play a critical role in fostering trust. By finding efficient ways to comply with these guidelines, financial institutions can create a secure environment that encourages innovation and consumer confidence.

Looking ahead

Digital trust isn’t just a technological challenge—it’s a business-critical issue that requires a strategic approach. The Future of Digital Trust: Establishing the Foundations for a Resilient, Efficient, and Safer Online World report provides valuable insights into how financial institutions can address these challenges. With actionable strategies around legacy tech, collaboration, regulation, and transparency, the report equips organisations to protect customer confidence and achieve sustainable growth in 2025. Explore these themes and more in the full report.

Download the report here.