UK Financial Services Settles Invoices Far Faster Than Average

The UK Financial Services sector significantly outperforms the national average in payment speed, but a wide disparity exists between the best and worst payers.

The Numbers

• Companies analysed: 520
• Average PaymentCheck Score: 83.0/100
• UK average: 50.0/100 (Financial Services is 33.0 points above)

What Stands Out

The sector's average PaymentCheck score of 83.0 is considerably higher than the UK average of 50.0. Despite this generally positive trend, several firms demonstrate remarkably poor payment performance, suggesting internal inconsistencies or strategic approaches to managing supplier relationships.

Best Payers

• PRINCIPAL FINANCIAL SERVICES V (UK) LTD - 100/100
• PARTNERSHIP LIFE ASSURANCE COMPANY LIMITED - 100/100
• INTERBAY ML, LTD - 100/100
• COVEA INSURANCE PLC - 100/100
• PREMIER FUND MANAGERS LIMITED - 100/100

Worst Payers

• ERNST & YOUNG (ASIA-PACIFIC) SERVICES LIMITED - 6.57/100
• FNZ (UK) LTD - 21.5/100
• ERNST & YOUNG (EMEIA) SERVICES LIMITED - 23.43/100
• TAKEPAYMENTS LIMITED - 25.1/100
• SHOP DIRECT FINANCE COMPANY LIMITED - 26.5/100

Regional Patterns

Northern Ireland leads the way regionally with an average score of 90.6 (though based on a small sample of only three companies), followed by Yorkshire and The Humber at 87.3 (from 12 companies) and the South East at 87.2 (from 74 companies). Scotland's average of 84.6, derived from 18 companies, suggests reasonable performance, but it's still a few points below the top three regions, indicating that prompt payment isn't universally prioritized across all areas of the UK.

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While the Financial Services sector boasts an average PaymentCheck score of 83, Ernst & Young (Asia-Pacific) Services Limited's dismal 6.57 highlights that payment performance is far from uniformly good across all businesses in the sector.