Fortify Solutions Raises £1.2M to Help Financial Institutions Fight Fraud With Software

Fortify Solutions, a UK financial crime technology company, has raised £1.2 million to develop its fraud prevention software and advisory services for financial institutions. The company provides banks, payment providers, and other regulated financial services firms with a combination of analytical software tools and specialist consulting expertise to help them identify, investigate, and prevent financial fraud — one of the most costly and persistent challenges facing the financial services industry.

Financial fraud in the UK has reached significant scale. Authorised push payment (APP) fraud — where criminals manipulate victims into authorising payments to fraudulent accounts — account takeover attacks, identity fraud, and card fraud collectively cost the UK economy billions of pounds annually, with direct losses borne by financial institutions, insurers, and ultimately consumers. The regulatory environment has tightened significantly, with the Payment Systems Regulator introducing mandatory reimbursement rules for APP fraud victims that increase the financial exposure of payment service providers to fraud losses. This regulatory pressure, combined with the growing sophistication of fraud attacks driven by AI-generated phishing, deepfake-based social engineering, and organised crime networks, has made fraud prevention a top-tier priority for financial institutions' risk and technology functions.

Fortify Solutions addresses this by developing software that helps institutions detect fraud patterns in their transaction and customer data, identify suspicious account behaviours and networks, and automate elements of the fraud investigation process. The company's consulting practice — staffed by specialists with deep experience in financial crime investigation and prevention — complements the software by helping clients implement effective fraud detection frameworks, train their operational teams, and respond to emerging fraud typologies that evolve faster than rule-based systems can be updated to address. This combination of software and advisory capability positions Fortify for the mid-tier of the financial institutions market, where the need for fraud prevention capability is acute but the resources to build a large in-house specialist team are limited.

The funding will be used to develop the software platform, expand the consulting team, and build the commercial relationships with banks and payment providers that represent the company's primary market.

Sources

• Fortify Solutions — company website