UK Financial Services Payments: A Tale of Two Extremes in 2022

The Numbers

• Companies analysed: 465
• Average PaymentCheck Score: 82.5/100
• UK average: 50.0/100
• Financial Services sector advantage: 32.5 points
• Top PaymentCheck Score: 100/100
• Bottom PaymentCheck Score: 8/100
• Regional average range: 84.0 to 94.7

What Stands Out

The UK Financial Services sector appears to be significantly better than average regarding payment practices, boasting a PaymentCheck score 32.5 points higher than the UK average. However, the gulf between the best and worst payers, from a perfect 100 to a dismal 8, reveals a stark inconsistency in payment ethics within the industry itself. This range indicates that a high sector average doesn't guarantee responsible payment behaviour across all firms.

Best Payers

1. AKO CAPITAL LLP - 100/100
2. PREMIER FUND MANAGERS LIMITED - 100/100
3. INTERBAY ML, LTD - 100/100
4. ARCH SYNDICATE INVESTMENTS LTD - 100/100
5. NRAM LIMITED - 100/100

Worst Payers

1. UBS ASSET MANAGEMENT (UK) LTD - 8/100
2. ERNST & YOUNG (ASIA-PACIFIC) SERVICES LIMITED - 8.7/100
3. SLATER & GORDON (UK) 1 LIMITED - 18.37/100
4. FNZ (UK) LTD - 21.7/100
5. ERNST & YOUNG (EMEIA) SERVICES LIMITED - 21.8/100

Regional Patterns

Northern Ireland has the highest regional average at 94.7, albeit based on data from only 2 companies; Yorkshire and The Humber also performs well with an average of 88.9 across 11 firms. The South East, with the largest sample size of 71 companies, clocks in at a respectable 84.0, suggesting solid, if not spectacular, payment practices in a key financial region. Regional data should be interpreted with caution due to the sample sizes involved.

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While the financial services sector averages 82.5/100, UBS Asset Management (UK) LTD’s score of just 8/100 proves some firms are letting the side down badly.