Yorkshire Tech Firm SmartSearch Acquires Credas Technologies for UK KYC, AML Lead
Yorkshire tech firm SmartSearch has agreed to acquire Credas Technologies, a move that will strengthen its position as a leading digital KYC and AML compliance platform in the UK. The deal, subject to regulatory approval, is set to bring together two innovative companies in the digital identity verification space.
Credas Technologies, currently supporting over 1,000 legal and property clients, specialises in streamlining onboarding processes and enhancing customer journeys through digital identity verification. Tim Barnett, CEO of Credas, emphasises the critical role of digital identity verification in protecting businesses from financial crime.
The acquisition by SmartSearch, which serves more than 7,500 clients and has seen a remarkable 31% year-on-year growth since 2013, is backed by significant private equity investment from Triple Private Equity in 2024. Phil Cotter, CEO of SmartSearch, anticipates that the acquisition will deliver unmatched innovation and service in digital compliance.
The acquisition of Credas Technologies by SmartSearch is expected to enhance the latter's position as one of the UK's foremost digital KYC and AML compliance platforms. With the deal subject to regulatory approval, the combined entity will serve a broader range of clients, offering advanced digital identity verification solutions to protect businesses from financial crime.
