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Property Professionals Support Government's Digital Identity Plans in Homebuying

Property Professionals Support Government's Digital Identity Plans in Homebuying

Research from Credas Technologies indicates that 70% of property professionals endorse government plans to implement a digital identity system for buyers and sellers in the residential home moving market. The proposed framework, already in place for Right to Work, Right to Rent, and DBS checks since October 2022, establishes rules for digital identity service providers (IDSPs) to ensure secure and reliable checks. This would allow businesses, including letting agents, to use IDSPs for ID verification checks.

The survey conducted by Credas Technologies found that 75% of UK property professionals view the initial introduction of this framework positively, and 68% believe it has improved ID verification standards in the property industry.

A substantial 67% expressed interest in extending similar schemes to the residential sales sector, with 71% believing it would enhance industry standards.

As reported by The Negotiator - Tim Barnett, Chief Executive of Credas Technologies, emphasised the prevalence of manual ID checks among property professionals, highlighting associated risks and operational burdens. Barnett stated, "There are a high number of property professionals who continue to carry out ID checks manually, which not only heightens risk but also adds considerably to their operational workload."

In other news, former UK Prime Minister Tony Blair and ex-Tory leader William Hague recently advocated for a digital ID card that individuals can carry on their phones. This proposed digital ID card would include details such as passport information, driving license, tax records, qualifications, and right to work status. Blair and Hague outlined their vision for a comprehensive digital infrastructure, including sovereign AI systems supported by supercomputing capabilities, in a joint article for The Times earlier this week.


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