Property industry backs government plans for digital identity
Majority of property professionals support government plans giving buyers and sellers a digital identity in the homebuying process.
Seventy percent of property professionals support government plans to introduce a digital identity for buyers and sellers in the residential home moving market, research from Credas Technologies reveals.
Such schemes already exist with regard to the Right to Work, Right to Rent and DBS checks, having been introduced in October 2022.
RULES
It details a set of rules that digital identity service providers (IDSPs) must agree to follow in order to conduct secure and trustworthy checks, enabling businesses such as letting agents to use an IDSPs to complete ID verification checks on their behalf.
The survey by Credas Technologies found that three quarters (75%) of UK property professionals believed the original introduction of this framework was a positive step, with nearly seven out of 10 (68%) also stating that it had helped improve the standards of ID verification within the property industry.
RESIDENTIAL
A similar number (67%) also said they would like to see similar schemes rolled out across the residential sales sector, with the vast majority (71%), again believing that it would help improve the standards of the industry.
There are a high number of property professionals who continue to carry out ID checks manually which heightens risk.”
Tim Barnett, Chief Executive of Credas Technologies, says: “As it stands, there are a high number of property professionals who continue to carry out ID checks manually, which not only heightens risk, but also adds considerably to their operational workload.”
Earlier this week Tony Blair joined ex-Tory leader William Hague in calling for the Government to introduce an ID card that people can have on their phones.
This would hold details such as their passport, driving licence, tax records, qualifications and right to work status.
In a joint article for The Times they suggested a shake-up of Whitehall ‘including digital ID for every citizen, a national health infrastructure that uses data to improve care and keep costs down, and sovereign AI systems backed by supercomputing capabilities’.
