Digital identity verification provider Credas has joined the Open Property Data Association (OPDA), saying they are looking forward to playing a role in creating a more transparent housing market.
Credas provides digital services to conveyancers and estate agents, including ID and AML checks, financial evidence gathering and identification of high risk customers.
The Cardiff-based company says its vision is to speed up the process of customer onboarding and compliance checks through a simple, automated process.
Founded in June 2023, the OPDA’s mission is to make the homebuying process faster and more transparent through the sharing of digital property information. The membership organisation promotes the use of trusted open property data and provides a forum for collaboration and innovation in the industry.
Credas CEO Tim Barnett (pictured) said he was excited to join like-minded institutions in creating a more transparent and trusted housing market for consumers.
He added:
“We are committed to making identity verification and compliance data sharable and easily accessible.
“We are looking forward to collaborating with other members to minimise the number of checks needed throughout the home buying process, creating an easier, seamless process for all.”
Maria Harris, OPDA chair, said:
“Homebuyers are asked to supply proof of identification on average four times in each transaction, in different ways and to different parties, creating a huge amount of duplication and discomfort for the consumer.
“Credas is helping to remove barriers and customer frustrations by supplying a digital identity which can be trusted and shared across the customer journey, and we welcome their involvement with the OPDA.”
OPDA members represent a wide range of property industry stakeholders including data providers, lenders, technology and software companies and property professionals.
In signing up, Credas joins major players including NatWest Group, HSBC, Nationwide and Lloyds Banking Group. Other members include Atom Bank, PEXA, Movera and Coadjute.
