Welsh tech firm launches new AML platform for agents

Credas Technologies has launched a new AML and identify verification (IDV) platform to bolster estate and letting agents’ defences in their war against money laundering.

The platform will automate both the AML and IDV onboarding procedures and simplify the due diligence for both agents and their customers, creating speedier transactions and reducing the risk of fraudulent and criminal activity.

BRANDING

A branding module offers agents full branding including emails, SMS, landing pages, PDF reports as well as a web app.

A free proof and source of funds module including document uploads and open banking capabilities for automated instant bank checks as well as fully integrated EIDAS level 2 advanced eSignatures are also offered.

PEPS and Sanctions results will include headshots, daily ongoing monitoring, adverse media, and law enforcement while the Credas workflow engine can create bespoke processes.

FRONT LINE

Tim Barnett, Chief Executive of Credas Technologies, says: “The nation’s estate and letting agents really are the front line in the fight against money laundering within the UK property market and this can be an extremely heavy responsibility to carry at times, particularly in addition to their other day-to-day commitments.

“Our goal has always been to help shoulder some of this weight by providing the technology that does the heavy lifting for them.

“We’ve invested millions into our brand new next-gen platform that provides agents with the very best AML tools, and a host of new integrations with the likes of Land Registry and LexisNexis.

“By bringing together all these innovations under one platform we’ve dramatically cut down the time it takes to onboard new customers while also strengthening their compliance processes with our new data partnerships.”