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FSCS

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Namestring
FSCS
Legal namestring
Financial Services Compensation Scheme
Websiteurl
fscs.org.uk
Company typeenum
Private
Founded yearint
2001
Descriptiontext

FSCS (Financial Services Compensation Scheme Limited) is the UK's statutory compensation fund of last resort, established under the Financial Services and Markets Act 2000 and operational since 2001. It pays compensation to eligible consumers when UK-authorised financial services firms fail and cannot meet claims. FSCS covers deposits (up to £120,000 per person from December 2025, up from £85,000), pensions, investments, insurance, mortgages, payment protection insurance, debt management, and funeral plans. The service is free at the point of use for consumers, who access it via an online claims portal and contact centre.

FSCS is fully funded by an annual levy on FCA- and PRA-authorised financial services firms, split across nine funding classes (Deposits, Investment Provision, Life and Pensions Provision, Insurance Provision/Distribution, Home Finance Intermediation, Debt Management, Funeral Plans, and Life Distribution and Investment Intermediation), with a retail pool providing cross-subsidisation when class limits are breached. Annual levies have ranged significantly, with the 2026/27 levy set at £247 million and £267 million expected in compensation payments.

Underlying the claims process is a technology platform built on Azure cloud infrastructure, featuring a Resolution Data Lake (RDL) that uses machine learning to search unstructured data from failed firms, plus AI document processing for OCR, handwriting recognition, and table extraction. FSCS is registered as a limited company in England and Wales (No. 3943048) for administrative purposes but has no equity shareholders, no parent company, and no VC/PE investors. Leadership includes Interim Chief Executive Martyn Beauchamp, CFO Fiona Kidy, and Chief Data, Intelligence and Technology Officer Sabah Carter.

Short descriptiontext

FSCS is the UK's statutory compensation scheme that pays free compensation to eligible consumers when authorised financial services firms fail, covering deposits, pensions, investments, insurance, and mortgages. It is funded entirely by annual levies on FCA/PRA-authorised firms and operates as a government-established independent body.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersLondon, United Kingdom
HQ citystring
London
HQ countrystring
United Kingdom
HQ regionstring
Europe
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
deposit protection scheme, financial compensation, statutory compensation fund, pension protection, investment protection
NAICS code2 codes
  • Insurance and Employee Benefit Funds5251
  • Other Insurance Funds52519
Product category
Statutory Financial Compensation Scheme
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Annual Levy from Financial Services Firms
TypeSubscription Recurring
Description

FSCS is fully funded by an annual levy paid by firms authorised by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). The levy funds compensation costs and management expenses. The levy is split into nine funding classes: Debt Management, Deposits, Funeral Plans, General Insurance Provision, General Insurance Distribution, Home Finance Intermediation, Investment Provision, Life and Pensions Provision, and Life Distribution and Investment Intermediation. There is also a retail pool for cross-subsidisation when class limits are breached.

fscs.org.uk
Marketing channels6 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

FSCS is the UK's statutory compensation fund of last resort, paying compensation to eligible customers when FCA- or PRA-authorised financial services firms fail and cannot meet claims. It provides free protection across deposits (up to £120,000 per person from December 2025), pensions, investments, insurance, mortgages, PPI, debt management, and funeral plans. The service is delivered directly to consumers through an online claims portal, contact centre, and proactive outreach, funded entirely by annual levies on authorised financial firms.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 4 values shown
  • £20.9 billion paid in compensation during 2008 banking crisis, with £20 billion recovered from failed banks
+3 more records
Product overview1 text field

FSCS is the UK's statutory compensation scheme for financial services customers. It provides a unified protection service across multiple financial product categories including deposits (up to £120,000), pensions, investments, insurance, mortgages, PPI, debt management, and funeral plans. FSCS offers a single claims process through its website where customers can check protection eligibility and submit claims directly. The organization also operates technology platforms including a resolution data lake for processing claims data and a core claims processing system for end-to-end assessment and payment.

Product and service1 record
1Deposit Protection
Scale indicator9 records

Each record includes

Type, Value, Description, Source

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
1Investor Compensation Company (ICCL)
TypeDirect peer
Description

Ireland's statutory investor compensation scheme, set up under EU investor compensation schemes directive. Operates a near-identical model to FSCS — levies on investment firms, free consumer claims, statutory mandate — making it the closest like-for-like analogue in a comparable jurisdiction.

2Financial Services Compensation Scheme (Gibraltar FSCS)
TypeDirect peer
Description

Gibraltar's statutory compensation scheme operating under the same UK regulatory heritage as FSCS. Directly comparable in mandate, funding model (levies on authorised firms), and product coverage.

3Fondo de Garantía de Inversiones (FOGAIN)
TypeDirect peer
Description

Spain's statutory investor compensation scheme under the EU harmonised framework. Comparable to FSCS in function — pooling levies from investment firms to compensate retail customers when authorised firms fail.

4Federal Deposit Insurance Corporation (FDIC)
TypeBroad incumbent
Description

The US deposit insurance and bank supervision agency. Far larger and broader in scope than FSCS, but operates the same fundamental deposit-protection mandate, with a similar dual role of consumer protection and financial-stability backstop.

5Canada Deposit Insurance Corporation (CDIC)
TypeBroad incumbent
Description

Canada's federal deposit insurance corporation covering banks, trust and loan companies. Operates a comparable deposit-protection mandate funded by member-firm premiums, with similar claims-handling and public-confidence functions.

6Korea Deposit Insurance Corporation (KDIC)
TypeBroad incumbent
Description

Korea's statutory deposit insurance agency covering banks and securities companies, with an additional crisis-resolution mandate. Comparable functional role and levy-based funding model to FSCS.

7Hong Kong Deposit Protection Board
TypeBroad incumbent
Description

Operates Hong Kong's Deposit Protection Scheme with statutory levy-based funding and a defined per-depositor cap. Functions as FSCS's Asian counterpart in deposit protection and consumer confidence.

8Singapore Deposit Insurance Corporation (SDIC)
TypeRegional player
Description

Singapore's statutory deposit insurance scheme under the Monetary Authority of Singapore. Smaller scope than FSCS but highly analogous in levy funding, depositor-protection mandate, and statutory underpinning.

9Financial Ombudsman Service (UK)
TypeOthers
Description

UK statutory dispute-resolution body for financial services complaints. Distinct function from FSCS (adjudication vs. compensation), but operates as a complementary consumer-protection arm in the same regulatory ecosystem and handles disputes involving FSCS decisions.

10Financial Conduct Authority (FCA)
TypeOthers
Description

The UK conduct regulator whose authorised firms fund the FSCS levy. As the source of firm authorisations, investigations, and restrictions that ultimately drive FSCS claims, the FCA is FSCS's most important upstream institutional relationship.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile4 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI capability4 records

Each record includes

Type, Description, Source

AI maturity
App detail

Has app

Feature3 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

FSCS

Statutory Financial Compensation Schemefscs.org.uk

FSCS is the UK's statutory compensation scheme that pays free compensation to eligible consumers when authorised financial services firms fail, covering deposits, pensions, investments, insurance, and mortgages. It is funded entirely by annual levies on FCA/PRA-authorised firms and operates as a government-established independent body.

What FSCS does

FSCS (Financial Services Compensation Scheme Limited) is the UK's statutory compensation fund of last resort, established under the Financial Services and Markets Act 2000 and operational since 2001. It pays compensation to eligible consumers when UK-authorised financial services firms fail and cannot meet claims. FSCS covers deposits (up to £120,000 per person from December 2025, up from £85,000), pensions, investments, insurance, mortgages, payment protection insurance, debt management, and funeral plans. The service is free at the point of use for consumers, who access it via an online claims portal and contact centre.

FSCS is fully funded by an annual levy on FCA- and PRA-authorised financial services firms, split across nine funding classes (Deposits, Investment Provision, Life and Pensions Provision, Insurance Provision/Distribution, Home Finance Intermediation, Debt Management, Funeral Plans, and Life Distribution and Investment Intermediation), with a retail pool providing cross-subsidisation when class limits are breached. Annual levies have ranged significantly, with the 2026/27 levy set at £247 million and £267 million expected in compensation payments.

Underlying the claims process is a technology platform built on Azure cloud infrastructure, featuring a Resolution Data Lake (RDL) that uses machine learning to search unstructured data from failed firms, plus AI document processing for OCR, handwriting recognition, and table extraction. FSCS is registered as a limited company in England and Wales (No. 3943048) for administrative purposes but has no equity shareholders, no parent company, and no VC/PE investors. Leadership includes Interim Chief Executive Martyn Beauchamp, CFO Fiona Kidy, and Chief Data, Intelligence and Technology Officer Sabah Carter.

FSCS firmographics

Firmographics
Name
FSCS
Legal name
Financial Services Compensation Scheme
Website
https://fscs.org.uk
Company type
Private
Founded year
2001
Operating status
Operating
Headcount range
251–500 employees
Short description
FSCS is the UK's statutory compensation scheme that pays free compensation to eligible consumers when authorised financial services firms fail, covering deposits, pensions, investments, insurance, and mortgages. It is funded entirely by annual levies on FCA/PRA-authorised firms and operates as a government-established independent body.
Ownership category
akta.pro rank

Where FSCS is headquartered

Location

Headquarters

HQ city
London
HQ country
United Kingdom
HQ region
Europe

Offices1 record

Markets served

FSCS business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

  1. Annual Levy from Financial Services Firms: FSCS is fully funded by an annual levy paid by firms authorised by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). The levy funds compensation costs and management expenses. The levy is split into nine funding classes: Debt Management, Deposits, Funeral Plans, General Insurance Provision, General Insurance Distribution, Home Finance Intermediation, Investment Provision, Life and Pensions Provision, and Life Distribution and Investment Intermediation. There is also a retail pool for cross-subsidisation when class limits are breached.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

FSCS product offering

Product offering

Core offering

FSCS is the UK's statutory compensation fund of last resort, paying compensation to eligible customers when FCA- or PRA-authorised financial services firms fail and cannot meet claims. It provides free protection across deposits (up to £120,000 per person from December 2025), pensions, investments, insurance, mortgages, PPI, debt management, and funeral plans. The service is delivered directly to consumers through an online claims portal, contact centre, and proactive outreach, funded entirely by annual levies on authorised financial firms.

Product overview

FSCS is the UK's statutory compensation scheme for financial services customers. It provides a unified protection service across multiple financial product categories including deposits (up to £120,000), pensions, investments, insurance, mortgages, PPI, debt management, and funeral plans. FSCS offers a single claims process through its website where customers can check protection eligibility and submit claims directly. The organization also operates technology platforms including a resolution data lake for processing claims data and a core claims processing system for end-to-end assessment and payment.

Differentiator

Problem solved

Functional benefit

Products and services

  • Deposit Protection

Quantifiable outcome

  • £20.9 billion paid in compensation during 2008 banking crisis, with £20 billion recovered from failed banks
  • +3 more outcomes

Companies that use FSCS

Customer profile

Named customers1 record

Segments4 records

Ideal customer profiles4 records

FSCS technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature3 records

FSCS partnerships and signals

Strategic signal

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

FSCS competitors and assessment

Company assessment

Direct peers

  • Investor Compensation Company (ICCL): Ireland's statutory investor compensation scheme, set up under EU investor compensation schemes directive. Operates a near-identical model to FSCS — levies on investment firms, free consumer claims, statutory mandate — making it the closest like-for-like analogue in a comparable jurisdiction.
  • Financial Services Compensation Scheme (Gibraltar FSCS): Gibraltar's statutory compensation scheme operating under the same UK regulatory heritage as FSCS. Directly comparable in mandate, funding model (levies on authorised firms), and product coverage.
  • Fondo de Garantía de Inversiones (FOGAIN): Spain's statutory investor compensation scheme under the EU harmonised framework. Comparable to FSCS in function — pooling levies from investment firms to compensate retail customers when authorised firms fail.

Broad incumbents

  • Federal Deposit Insurance Corporation (FDIC): The US deposit insurance and bank supervision agency. Far larger and broader in scope than FSCS, but operates the same fundamental deposit-protection mandate, with a similar dual role of consumer protection and financial-stability backstop.
  • Canada Deposit Insurance Corporation (CDIC): Canada's federal deposit insurance corporation covering banks, trust and loan companies. Operates a comparable deposit-protection mandate funded by member-firm premiums, with similar claims-handling and public-confidence functions.
  • Korea Deposit Insurance Corporation (KDIC): Korea's statutory deposit insurance agency covering banks and securities companies, with an additional crisis-resolution mandate. Comparable functional role and levy-based funding model to FSCS.
  • Hong Kong Deposit Protection Board: Operates Hong Kong's Deposit Protection Scheme with statutory levy-based funding and a defined per-depositor cap. Functions as FSCS's Asian counterpart in deposit protection and consumer confidence.

Regional players

  • Singapore Deposit Insurance Corporation (SDIC): Singapore's statutory deposit insurance scheme under the Monetary Authority of Singapore. Smaller scope than FSCS but highly analogous in levy funding, depositor-protection mandate, and statutory underpinning.

Others

  • Financial Ombudsman Service (UK): UK statutory dispute-resolution body for financial services complaints. Distinct function from FSCS (adjudication vs. compensation), but operates as a complementary consumer-protection arm in the same regulatory ecosystem and handles disputes involving FSCS decisions.
  • Financial Conduct Authority (FCA): The UK conduct regulator whose authorised firms fund the FSCS levy. As the source of firm authorisations, investigations, and restrictions that ultimately drive FSCS claims, the FCA is FSCS's most important upstream institutional relationship.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

FSCS social profiles

Digital presence

FSCS financial estimates

Financial estimate

Revenue estimate

Valuation estimate

FSCS leadership team

Management profile

Number of profiles

Profiles3 records

FSCS funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

FSCS M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FSCS

What does FSCS do?

FSCS is the UK's statutory compensation fund of last resort, paying compensation to eligible customers when FCA- or PRA-authorised financial services firms fail and cannot meet claims. It provides free protection across deposits (up to £120,000 per person from December 2025), pensions, investments, insurance, mortgages, PPI, debt management, and funeral plans. The service is delivered directly to consumers through an online claims portal, contact centre, and proactive outreach, funded entirely by annual levies on authorised financial firms.

Is FSCS a public or private company?

FSCS is a private company. It is classified as state government owned and is currently operating.

When was FSCS founded?

FSCS was founded in 2001. It employs 251 to 500 people.

Where is FSCS based?

FSCS is headquartered in London, United Kingdom, in the Europe region.

How does FSCS make money?

One revenue line is on record: annual Levy from Financial Services Firms.

Who are FSCS's main competitors?

Direct peers on record are Investor Compensation Company (ICCL), Financial Services Compensation Scheme (Gibraltar FSCS) and Fondo de Garantía de Inversiones (FOGAIN). Broad incumbents are Federal Deposit Insurance Corporation (FDIC), Canada Deposit Insurance Corporation (CDIC), Korea Deposit Insurance Corporation (KDIC) and Hong Kong Deposit Protection Board. Singapore Deposit Insurance Corporation (SDIC) is listed as a regional player. Others are Financial Ombudsman Service (UK) and Financial Conduct Authority (FCA).

Does FSCS have an API?

No public API is recorded for FSCS.

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Live signals
FxnewsgroupFSCS provides update to clients of IBP Markets LimitedFSCS updated IBP Markets Limited clients that a court hearing on 23 November 2026 will consider the JSAs' Distribution Plan for custody assets. FSCS will cover eligible customers' losses up to the £85,000 cap, with no deduction for special administration costs. Customers will follow JSAs' instructions, not apply to FSCS.AInvestKey Coin Assets: The Regulator Warned 23 Months Before the Winding Up. Nine Investors Still Paid £300,000.The UK's Financial Conduct Authority warned the public about Key Coin Assets Ltd in September 2024, identifying it as an unauthorized firm, yet nine investors transferred over £300,000 to the company before its winding-up order was issued in August 2026. An investigation revealed that Key Coin Assets operated a Ponzi-style scheme with no genuine trading, moving funds directly into directors' personal accounts rather than investing in cryptocurrency. Because the firm lacked FCA authorization, the affected investors were ineligible for compensation from the Financial Services Compensation Scheme.FCAFCA censures Equity for Growth (Securities) LimitedThe FCA has censured Equity for Growth (Securities) Limited for approving financial promotions for minibonds that failed to disclose very high commission fees charged by appointed representatives and other introducers, which were deducted from investors' money, preventing them from making fully informed decisions. On 25 March 2026, following an FCA petition, the High Court ordered EFG to be wound up on grounds of insolvency, with investor claims to be assessed by the Financial Services Compensation Scheme. The FCA decided not to impose a financial penalty of £386,467 as it would reduce funds available to repay creditors.FxnewsgroupFSCS provides update to Argentex clientsThe UK Financial Services Compensation Scheme (FSCS) has provided an update to clients of Argentex LLP, which entered special administration on 21 July 2025 after stopping trading on 17 July 2025. Joint special administrators from FRP Advisory Trading Limited have been reconciling Argentex's financial records and quantifying customer funds held under FCA CASS rules. FSCS will compensate CASS client money customers for the deduction they'll face from distribution costs, but electronic money and payment services customers are not eligible for FSCS compensation, and payouts are capped at £85,000 per person.FxnewsgroupFSCS completes part of its investigation into Equity For Growth (Securities) LimitedThe UK Financial Services Compensation Scheme (FSCS) has completed part of its investigation into Equity For Growth (Securities) Limited regarding investments the firm arranged into entities including Magna MIX, Sutter Capital Limited, Green Life Buildings, and several others. FSCS has determined that some customers may be eligible for compensation, with each claim to be assessed individually under rules set by the Financial Conduct Authority. The firm entered liquidation in March 2026, and FSCS stated it is still investigating the firm's actions with other investments not yet listed.Business Wire BlogUK Companies Are Leaving Millions of Pounds Exposed and UnderperformingA survey of 500 UK finance leaders found average cash holdings of £2.21 million, with two-thirds lacking meaningful FSCS deposit protection awareness. Businesses miss about £42,000 annually in interest by not using higher-yield options, and senior leaders spend 4.5 hours weekly on banking admin.Investing.com27 levy at £247m, down £95m from forecast By Investing.comThe Financial Services Compensation Scheme announced its 2026/27 annual levy will be £247 million, representing a £95 million reduction from its November 2025 forecast. The lower levy was driven by a shift toward higher volumes of lower-value advice claims, fewer high-value pensions and SIPP operator claims, more Section 27 claims resulting in no compensation due, and decreased insurance costs from historic failures. FSCS expects to pay £267 million in compensation to customers during 2026/27 while recovering £34 million from estates of failed firms in 2025/26.FxnewsgroupFSCS finishes investigation into Business Agent LtdThe UK Financial Services Compensation Scheme has completed its investigation into Business Agent Ltd, which entered administration on 8 May 2025 with Louise Longley and Julian Pitts of Begbies Traynor Group appointed as joint administrators. All submitted claims will now be transferred to FSCS claims processing teams for individual assessment to determine eligibility for compensation. Claimants are advised to ensure all supporting evidence has been provided to avoid delays in the assessment process.FxnewsgroupFSCS provides update to clients of Dolfin Financial (UK) LtdThe UK Financial Services Compensation Scheme (FSCS) has issued an update to clients of Dolfin Financial (UK) Ltd, an independent wealth management firm that entered special administration on 30 June 2021 after the FCA imposed restrictions in March 2021. The joint special administrators intend to seek Court approval for a Distribution Plan that will enable the return of customers' Custody Assets. FSCS may compensate eligible customers for shortfalls up to the £85,000 limit, but claims will not open until after the Court approves the Distribution Plan and the asset return process has substantially progressed.The MirrorCar insurance warning as 16,000 customers no longer covered from TODAYPremier Insurance Company Limited, a Gibraltar-based motor insurer that covered approximately 16,000 UK customers, collapsed into administration, rendering all policies invalid from December 1. Customers must now find alternative coverage, with the Financial Services Compensation Scheme (FSCS) stepping in to protect eligible policyholders and process claims against their existing policies. Joint administrators Freddie White and Bradley Chadwick of Grant Thornton were appointed following the company's failure.