Digital compliance firm SmartSearch has acquired Credas Technologies Ltd.
The deal brings together SmartSearch and Credas, both of which provide identity verification and compliance technology to regulated firms, including those operating in the property, financial services, legal, accountancy and insurance sectors.
Ilkley-based SmartSearch said the acquisition will expand its product offering by incorporating Credas’ technology into its existing platform, supporting firms in meeting know-your-customer (KYC) and anti-money laundering (AML) requirements.
Phil Cotter, CEO, SmartSearch, commented: “This acquisition enables us to streamline onboarding and monitoring for regulated firms, combining complementary technologies to deliver greater efficiency and accelerate product development.”
SmartSearch currently supports over 7,500 UK customers, providing automated Sanctions, PEP, UBO, and adverse media screening. The combined business will serve more than 8,500 regulated firms and continue SmartSearch’s growth trajectory.
Tim Barnett, CEO, Credas, added: “With financial crime on the rise, digital identity verification is more critical than ever. Joining SmartSearch allows us to help more businesses protect themselves and maintain compliance.”
The acquisition also underscores the strong backing of SmartSearch’s investors, Triple Private Equity, and confirms the successful execution of the company’s growth strategy. Backed by these investments, SmartSearch has developed one of the UK’s most comprehensive digital compliance platforms.
Ben Shepherd, head of value creation and founding partner at Triple, commented: “The acquisition of Credas reflects SmartSearch’s continued upward trajectory in the market for digital compliance solutions. We have no doubt that SmartSearch, with the addition of Credas, will continue to trailblaze in this fast-moving market.”
Read the orginal article: https://propertyindustryeye.com/smartsearch-buys-compliance-firm-credas/?utm_source=rss&utm_medium=rss&utm_campaign=smartsearch-buys-compliance-firm-credas
