Property professionals back digital identity framework

Property professionals have given their backing to the idea of a universal digital identity for buyers and sellers to speed up the sales process.

Such schemes already exist with regard to the Right to Work, Right to Rent and DBS but the Government-backed Home Buying and Selling Group has been working on a digital identity trust framework that would let a client have their identity verified once and used across all parties in a transaction.

A survey by anti-money laundering platform Credas Technologies has found that 69% of property professionals support this and 67% would like to see digital schemes similar to Right to Rent and DBS checks rolled out across the residential sales sector.

Credas Technologies said a number of stakeholders within the sector are already being consulted by the Government about this.

Tim Barnett, chief executive of Credas Technologies, said: “There are a range of outstanding identity verification providers currently working within the property sector but it’s clear that more must be done to improve standards when it comes to vetting both homebuyers and sellers.

“As it stands, 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. 

“Thankfully, it looks as though we could soon see the introduction of an official digital identity scheme to provide better guidance and help those within the sales sector to easily identify certified providers with greater ease.”