Agents can check the identity of buyers and sellers faster and more easily after Welsh proptech AML verification platform Credas announced it has joined the growing Coadjute blockchain network.
Credas, which is a major supplier to the estate agency sector including, most famously, Purplebricks and Connells, says it is also due to launch a service that will offer bank-grade identification checks to agents who use Coadjute.
This will enable existing digital identities created with Credas to be verified by third parties over the Coadjute network in real-time and if required, for the original documents to be used, with consumer consent.
Integrated behind existing platform and apps, the Coadjute network enables everyone involved in a property deal including estate agents, conveyancers, banks, buyers and vendors – to share documents, information and messages in real-time without needing new software.
Both Credas and Coadjute recently completed an initial assessment under the UK government’s Digital Identity and Attributes Trust Framework.
This means they meet the standards to become an accredited identity orchestration service under the framework when it launches later in 2022.
Tim Barnett, CEO of Credas Technologies says: “This collaboration will benefit thousands of estate agency branches, conveyancers and mortgage brokers, helping them to work together and communicate in a more efficient way with clients whilst seamlessly verifying the various stakeholders in their transaction flow professionally and swiftly.”
Dan Salmons (pictured), CEO of Coadjute, adds: “We are delighted to enable this new service with Credas and Coadjute’s government accredited identity orchestration service.
“We believe it will significantly expand the market for digital identification, as for the first time, identity information can not only to be collected digitally, but can also be verified and shared between users of participating software platforms.”