Allowing Customers to Automate Their Customer Onboarding and Compliance Checks: Credas

Credas is a straightforward, classy, and clever supplier of digital due diligence that is revolutionizing the way companies handle their compliance and consumer onboarding procedures. Credas began as a startup that offered a facial recognition ID verification service, but it quickly expanded with additional checks that allowed customers to undertake thorough Know Your Customer, Anti-Money Laundering, and Right to Work or Rent checks. With a full onboarding solution that includes smart data capture forms, eSign, process builders, and custom branding modules, all accessible via a portal or through an API integration, the new Credas 3.0 platform advances the business.

Below are highlights of the interview:

Give us some background on Credas and why it was founded.

Credas was founded in response to changes in UK government legislation that meant more businesses were captured under AML and right-to-work obligations. Part of these obligations was the requirement to verify their customer’s identity, including ID documents.

What makes Credas such a strong source of secure identity services?

Credas develops all of its technology in-house, including our soon-to-be-launched signature product. This allowed us to adapt rapidly to opportunities and market forces in comparison to our competitors. Credas is widely used throughout the UK property industry, with over 2,000,000 checks performed each year. Our new Connect platform is helping our clients transform their compliance processes by enabling them to configure complex customer journeys and business rules without the need for developer involvement. We are creating a single platform for end-to-end customer onboarding and monitoring that is slick, simple, and smart.

Tell us about featured person, the company’s Founder and CEO.

Tim Barnett is the CEO of Credas, having joined initially as COO in 2020. Tim has successfully launched and sold several businesses over the last decade within the IT sector. He has helped Credas grow exponentially over the past two years, recognizing its potential to become a market leader. Tim works closely with Credas’ CTO, Kevin Smith, helping to take credas’ technological developments to market.

What steps does the team take to determine the clients’ requirement before providing them services?

Each client goes through an initial discovery call where their needs and requirements are identified. Following this, they receive a personalized demo that showcases how our platform meets their needs, whether that’s for AML checks, right-to-work or customer onboarding. We work with each client to develop a bespoke proposal, which might include access to our API so we can integrate with their existing technology or through our web portal.

What is the management’s view on Identity Verification?

Identity verification is a vital part of good business practice and shouldn’t be seen as just meeting a legal obligation. It can help protect businesses from fraud and reputational damage, and using technology like Credas, it can even improve the customer onboarding experience.

What are the company’s key duties to the industry as a leading service provider?

Credas works closely with industry associations and regulatory bodies to help guide and influence the progress of identity standards. We are certified against the UK government’s digital identity and attributes framework, which aims to increase the adoption of digital IDs in the UK. We regularly publish research, reports, and guides to aid our businesses that are faced with compliance and customer onboarding challenges.

What kind of work culture does Credas have?

Credas is a value based company with innovation, accountability, and positivity at the heart of what we do. Everyone in the business is aware of their role and impact, and we all work towards clear objectives.

We’re trying to create a high-performance culture at Credas, and that’s set out clearly during the recruitment process. Each individual knows what role they play and what’s expected of them as part of their team. Boundaries between roles are clearly articulated by leadership whenever someone joins.

Integration is very important, especially as we operate a blended working hours model, meaning most people are not in the office at the same time. We arrange regular social events but also company-wide meetings. We ran at our last company gathering.While the big quarterly meetings are great, we also do smaller, more regular things like weekly employee spotlights so people get to know a bit more about their colleagues outside of their responsibilities.

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