Welsh digital ID firm Credas is set to streamline the homebuying process and other regulated transactions with the launch of the UK’s first ‘compliance wallet’. Reports Technology News
This new solution offers a reusable compliance tool designed for use across all regulated sectors, with an initial focus on the property market.
The digital wallet contains the user’s verified identity alongside a full compliance profile, including sanctions screening, anti-money laundering (AML) checks, and digital address verification.
By enabling individuals to carry a single, portable compliance record, the launch aims to accelerate real estate transactions—often delayed by repeated checks from multiple regulated parties involved in the process.
“Re-checking compliance data is a huge inefficiency that slows transactions and frustrates everyone involved,” said Tim Barnett, chief executive at Credas.
“Our compliance wallet changes that. It puts control back in the hands of users, lets firms share and trust verified data instantly, and reduces the compliance burden without compromising security.”
