Credas, a leading identity verification solutions provider, has launched its new Director Verification checks in response to updated Companies House regulations.
The new regulation mandates that all company directors and Persons of Significant Control (PSCs) verify their identity, either directly with Companies House or through an Authorised Corporate Service Providers (ACSPs). Non-compliance could result in operational restrictions and financial penalties.
With over 6 million registered directors in the UK, the demand for identity verification solutions is expected to surge, significantly impacting ACSPs such as accountants and formation agents. Not only must these service providers adapt to the new regulations, but they must also continue to meet existing Anti-Money Laundering (AML) obligations.
Credas’ Director Verification checks are designed to streamline compliance, combining the latest Companies House standards with existing AML legislation. This dual compliance approach drastically reduces the administrative burden for ACSPs while increasing confidence in their compliance.
Tim Barnett, CEO of Credas, explained: “Our new Director Verification checks ensure that firms and directors can meet these requirements efficiently and securely. By offering an alternative to verifying directly with Companies House, ACSPs can maintain direct client engagement and deliver a seamless onboarding experience.”
A standout feature of the Credas solution is the ability to send bulk invites, enabling ACSPs to easily request verification from their existing customers all in one go. This functionality helps minimise delays and ensures uninterrupted service.
As the UK’s highest-rated IDV app, Credas boasts over 4 million downloads and 250,000 five-star reviews. The platform is certified against the Digital Identity and Attributes Trust Framework, delivering the highest level of identity assurance. Moreover, Credas’ advanced workflow engine allows for rapid updates, configured and implemented within hours of new standards being released.
While identity verification is currently voluntary, it will become mandatory this autumn for all new or newly appointed company directors and PSCs. Existing directors and PSCs will have until autumn 2026 to comply.
For more information, visit www.credas.com/directorsIDV
Meet the Credas team on stand 384 at Accountex London, taking place at Excel London on the 14-15 May, 2025.
