Credas
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Regulation & Law
Two-thirds of homebuyers don’t trust estate agents with their personal data
Buyers have major concerns over the security of their personal data during property transactions, according to survey.
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Supplier News
Right-to-rent checks partnership
Letting agents will now be able to conduct digital right-to-rent checks on British and Irish citizens using identity verification technology (IDVT).
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Latest property news
‘Agent controlled’ portal gaining traction with first 200 properties
The Neg reported in June how Find Properties was hoping to destabilise the portal market by launching a portal that would be developed and controlled by agents.
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Latest property news
New partnership to offer agents digital Right to Rent checks
Goodlord will offer its certified right-to-rent service through the Vouch platform as an add-on to its current referencing checks for users of its platforms.
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Latest property news
AML checks attributed to foreign buyers hits all-time low
Data from the anti-money laundering checks provider had previously revealed that these checks had hit a record high during the first quarter of this year.
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Latest property news
Credas’ remote ID verification rolled out to Connells
Credas has implemented its remote identity verification software in 70 offices on behalf of UK estate agent Connells.
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Latest property news
Fifth of all agents fined for AML non-compliance
Nearly a fifth of all estate agents have been fined for non-compliance with the UK’s recently-introduced Anti Money Laundering (AML) regulations, it has been claimed. The research has been carried out by online identity verification service firm Credas, which says it believes agents were not given enough time or information by the government to prepare for AML, with predictable results. It polled 100 agents and found 19% of them had been fined for AML non-compliance by an average £11,842, although a third had been fined much more, at between £15,000 and £25,000. One of the duties estate agents must complete to be compliant with AML regulations is to store all their documentation relating to clients, financial transactions and other Anti Money Laundering paperwork. “We are concerned that 32% of the agents surveyed are still using a paper filing system to store their AML data,” says Credas CEO Rhys David (left). “There are so many digital solutions available on the market which will help agents with data storage and management, that there is no need to still depend on an old-fashioned filing cabinet and introduce risk. “Credas solves both those problems as it stores all the AML data in a secure…
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Latest property news
Former Countrywide exec joins Welsh proptech startup
Former Countrywide senior executive Vince Corley has joined Cardiff-based identity verification start-up Credas as a non-exec director on top of his existing role at Nick Dunning Associates, where he heads up its sales and financial services teams. Credas, which is headed up by former GoCompare executive Rhys David and launched in May last year, is a smartphone app which enables estate and letting agents to use facial and document recognition software to speed up and simplify identity verification, and also reduce the cost of complying with Anti Money Laundering (AML) and Right to Rent rules. “Customers are often put off by the verification hoops they have to go through to rent or buy a new home. Credas solves all of these problems in a simple app-based solution,” says Vince (pictured, left). “The cutting edge facial recognition technology Credas uses is amazing and the integration of this product into agents’ systems will alleviate the administrative burden and time wasted for both agents and customers alike. “It is a game changer in the market and I’m proud to help take the business to the next stage.” Vince joined Countrywide in 2004 where he held several senior positions including Acting Managing Director of…
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Latest property news
Welsh start-up helps landlords
Credas, a Cardiff-based technology start-up, is using real-time facial recognition technology to help companies speed up and simplify the process of ID verification, enabling estate and lettings agents to easily comply with Right to Rent legislation. The first of its kind in the UK, Credas enables landlords and letting agents to verify essential ID documents and match the photos on those documents with the person, in real-time, by using an app. By texting or emailing a link to the Credas app, potential tenants can verify themselves anywhere, any time. This truly mobile and real-time identification verification technology can verify up to 4,000 types of ID. Credas helps landlords and agents with the audit trail needed to comply with Right to Rent, as it records the verification on its highly secure cloud-based platform. This takes the burden off the landlord to keep the ID, as it will be automatically stored. It reduces the risk of a criminal record, as well as a possible fine of up to £3,000. Therefore, using Credas also minimises reputational risk. Rhys David, formerly at Gocompare.com, says, “Right to Rent legislation has increased costs and time spent verifying tenants. Having to physically check that the photo ID…
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