Cardiff-based identity verification leader Credas Technologies has announced the launch of the UK’s first reusable compliance wallet, aiming to significantly accelerate compliance checks across regulated industries.

The new Compliance Wallet, initially targeting the property sector, consolidates a user’s full compliance profile—including identity verification, AML screening, digital address verification, and ongoing monitoring—into a secure, shareable digital solution. Designed to address persistent inefficiencies in the homebuying process, the solution reduces the average number of property ID checks from 5.4 to just one.

The launch follows the Royal Assent of the UK Government’s Smart Data Bill, establishing a legal framework for user-controlled, reusable digital identities. The Credas Compliance Wallet is fully aligned with this legislation and integrates with key government-issued credentials, including the UK digital driving licence and the GOV.UK Wallet.

“Re-checking compliance data is a huge inefficiency that slows transactions and frustrates everyone involved,” said Tim Barnett, CEO at Credas. “Our compliance wallet changes that. It puts control back in the hands of users, lets firms share and trust verified data instantly, and reduces the compliance burden without compromising security.”

Unlike traditional compliance solutions, the Credas Compliance Wallet is immediately reusable and enables individuals to share their credentials with multiple stakeholders—such as estate agents, conveyancers, and mortgage brokers—with a single click. The solution is platform-agnostic and accessible to both Credas clients and non-clients.

With a 52% share of the UK property market and a 35% year-on-year increase in identity verifications, Credas has verified over 2.5 million individuals in 2025 alone. The company anticipates generating millions of compliance wallets by the end of 2026.

The official unveiling of the Credas Compliance Wallet will take place at an exclusive event on Thursday, 18 September 2025.

To learn more, visit www.credas.com/wallet.