Cardiff’s Credas launches UK’s first reusable compliance wallet
Cardiff’s Credas launches UK’s first reusable compliance wallet
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Cardiff-based tech company Credas Technologies has launched the UK’s first reusable compliance wallet, in a move that could revolutionise onboarding processes across regulated sectors, starting with the property industry.
Unveiled this week, the Credas Compliance Wallet consolidates key identity and compliance data into a single, secure digital profile. The tool enables users to store and share verified credentials, such as identity verification, anti-money laundering (AML) screening, and digital address verification, with multiple stakeholders including estate agents, mortgage brokers, and conveyancers.
The innovation comes in the wake of the UK Government’s Smart Data Bill receiving Royal Assent, which provides a legal framework for consumer-controlled, reusable digital identities. Credas’ platform aligns directly with the legislation and integrates with government-issued credentials like the digital driving licence and GOV.UK Wallet.
“Re-checking compliance data is a huge inefficiency that slows transactions and frustrates everyone involved,” said Tim Barnett, CEO of 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.”
Initially focused on the property market, the Compliance Wallet aims to streamline one of the most admin-heavy stages of the homebuying process. Credas says the solution can reduce the average number of identity checks per transaction—from 5.4 down to just one, improving speed, user experience, and compliance integrity.
Unlike traditional onboarding software, the new wallet is reusable, platform-agnostic, and accessible to both Credas clients and non-clients. Users can grant access to their credentials with a single click, facilitating seamless engagement with multiple firms without repeating checks.
Credas already commands a 52% share of the UK property market and reports a 35% year-on-year increase in identity verifications. In 2025 alone, the firm has already verified over 2.5 million individuals, and expects to generate millions of compliance wallets by the end of 2026.
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