The financial services sector in the UK appears to prioritize timely payments, based on these scores. The average PaymentCheck score of 82.0 is substantially higher than the UK average, indicating a commitment to efficient payment processes within the industry. The gap between the top and bottom payers suggests significant variation in payment practices.
While London houses the majority of the analyzed firms (275), the South East boasts the highest average PaymentCheck score at 86.7, suggesting potentially better payment cultures or operational efficiencies among the 57 companies based there. However, the East of England has a very high average (85.5), but is only based on 4 companies, so conclusions from this figure are limited. It may be wise for firms in London to analyze the payment approaches of companies in the South East and other high-performing regions.
If you're dealing with late payments, use this late payment calculator to work out how much you are owed.
Despite a strong overall average, the wide range between best and worst payers, from 100/100 to 10.1/100, suggests that some financial services firms need to urgently improve their payment practices.
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