Credas launches UK’s first reusable compliance wallet to accelerate checks across regulated sectors

Launch follows Smart Data Bill approval and cuts average property ID checks from 5.4 to 1 with a single, reusable compliance wallet.

CARDIFF, WALES, July 9, 2025 /EINPresswire.com/ -- Credas Technologies, the UK leader in identity verification, will launch the country’s first compliance wallet – a reusable compliance solution designed to reduce friction in the homebuying process, eliminate repeat compliance checks, and combat rising fraud risks across regulated sectors.

Designed for use across all regulated sectors, the wallet will initially launch in the property

market, where repeat checks are a persistent challenge. Each compliance wallet carries not just a verified identity but a complete compliance profile – including PEPs and sanctions screening, AML checks, digital address verification and ongoing monitoring – enabling faster, trusted onboarding with minimal friction that can be shared at the click of a button.

The wallet marks a major step forward for the UK’s digital identity ecosystem. Disrupting the entire ID space, it will revolutionalise onboarding processes, breaking previous bounds and building the most efficient ID and AML verification ever. It will integrate with the new UK digital driving licence and the GOV.UK Wallet, enabling seamless portability of verified credentials across both public and private sector services.

“Re-checking compliance data is a huge inefficiency that slows transactions and frustrates everyone involved,” said Tim Barnett, CEO 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.”

Unlike traditional solutions, the Credas Compliance Wallet will be instantly available, reusable, and allow users to easily share verified credentials with multiple parties such as Estate Agents, Conveyancers and Mortgage Brokers in just one click. The wallet will be an agnostic solution, making it accessible to both Credas clients and non-clients alike.

The launch follows the Royal Assent of the Smart Data Bill, which sets a regulatory foundation for reusable digital identities in the UK – paving the way for mainstream adoption of verified, user-controlled identity.

“With the Smart Data Bill now in force, digital identity verification can finally live up to its name, providing convenient mobile access to identity data at a click of a button.” Tim Barnett, CEO at Credas.

So far in 2025, Credas has verified over 2.5 million individuals, a 35% increase year on year. With a 52% share of the UK property market, the company expects to generate millions of their new Compliance Wallets by the end of 2026.

The Credas Compliance Wallet will be officially unveiled at an exclusive event on Thursday 18th September 2025.

To learn more, visit www.credas.com/wallet