Anti-money-laundering software provider SmartSearch has agreed to acquire Credas Technologies Ltd, provider of identity verification solutions for the legal and property sectors, subject to regulatory approval.
Credas currently supports over 1,000 legal and property clients with its customer onboarding and compliance checks. By integrating the Credas brand and technology, SmartSearch will expand its product offering and market reach across regulated industries.
CEO of Credas Tim Barnett commented:
“With financial crime on the rise and fraud tactics evolving, digital identity verification is more critical than ever. Partnering with SmartSearch empowers us to help even more businesses protect themselves and focus on delivering quality service.”
‘Regulated firms are under pressure to meet rising ‘know your customer’ (KYC) and AML demands while delivering seamless onboarding’, said Phil Cotter, CEO of SmartSearch.
“By joining forces with Credas, we combine our strengths to deliver unmatched innovation and service. Our clients will see immediate benefits as we continue to set the standard for digital compliance.”
Ben Shepherd, chairman of SmartSearch, added:
“The acquisition of Credas reflects SmartSearch’s continued upward trajectory in the market for digital compliance solutions. In 2024, Triple was impressed by the organisation’s consistent growth and customer-centric approach, together with its high-quality technology platform. Today’s news confirms that our confidence was well founded; we have no doubt that SmartSearch, with the addition of Credas will continue to trailblase in this fast-moving market.”
The agreement will see SmartSearch acquire Credas from Dye & Dunham, whose CEO George Tsivin said:
“While Credas is a valuable business, it is not core to Dye & Durham’s global product offering. I want to thank Tim Barnett and the entire Credas team for their contributions. We are confident they will continue to be leaders in their field, and we look forward to maintaining a strong commercial relationship under their new ownership.”
