Property professionals, conveyancers, regulators, and industry representatives attended the launch of the Credas Compliance Wallet in central London last week.
The Credas Compliance Wallet has been designed to eliminate repeat checks, reduce friction and combat rising fraud risks across regulated sectors. Each wallet carries not only a verified identity but a complete compliance profile – including PEPs and sanctions screening, AML checks, digital address verification and ongoing monitoring – enabling faster onboarding with minimal friction that can be shared at the click of a button.
Although designed for use across regulated industries, the wallet will first be rolled out in the property market, where compliance duplication remains a persistent challenge.
The event was hosted by property expert and presenter Russell Quirk, who moderated a panel featuring Catherine Perry, legal and compliance at Yopa, and Catherine Chappell, group head of commercial crime prevention at Connells. Both panellists highlighted the challenges of managing multiple regulators – including HMRC, SRA and FCA – while stressing the critical role of education and training in protecting businesses, customers and reputations.
Nick Ledingham, Chief Commercial Officer at Credas, also presented on the scale of the problem at the event, and was later joined by Credasʼ CTO, Neil Williams, and CFO, Gruff Dodd for a panel discussion, where Ledingham commented:
“On average, each property transaction involves 5.4 identity checks, while over 250,000 ID fraud cases were reported in 2024 alone. The Credas Compliance Wallet addresses this head-on by creating a shareable, interoperable solution that provides a one-time fraud audit trail of verification.
“With 15 million wallets available at launch and compatibility with Apple, Google and Government ID wallets, we are building an industry-wide solution that works with – not against – existing systems.”
Tim Barnett, CEO of Credas, added:
“We are launching on day one with 15 million wallets in circulation, marking the start of a very busy few months ahead. Compliance tech is changing, and that change is being driven by a small but hugely talented team based in Cardiff – a team I am very proud of.”
With 60% of property sector checks already involving Credas, the compliance wallet is poised to play a transformative role in setting a new standard of security, trust and collaboration across the industry.
Find out more
To find out more about the Credas Compliance Wallet and how conveyancers can utilise it, click here.
