between firm and client, get other tech solutions talking to eachother, and working as a single source of truth for clients. 234 Validient was the only Welsh LegalTech company to secure a place on the LawtechUK Sandbox in 2022 235 , which will support its expansion plans throughout the United Kingdom. 236 It is also the only Welsh LawTech member of Barclays Eagle Labs. 237 Furthermore, Validient actively sponsors the Wales Legal Awards, showcasing its commitment to the local legal community. 238 The company aims to simplify statutory reporting and regulatory compliance, helping with customer due diligence, risk management, and compliance oversight. Its services encompass the following aspects: • Know-Your-Customer (KYC) and Anti-Money Laundering (AML) (including identity and document authentication services, biometric facial recognition, anti-money laundering checks, proof of funds, and politically exposed persons checks) • Customer monitoring for relevant business changes (e.g. insolvency, bankruptcy, etc.) • Risk management, combining various risk indicators for effective decision-making • Compliance, including review of suspicious activity and internal action trackers.
Credas 239 Founded by Rhys David & Kevin Smith in 2016, Credas is an independently-run business within the Indigo Group, specialising in AML, KYC and identity verification services.
The services offered by Credas include real-time identity checks and document verification, using biometric facial recognition ID software, to combat financial crime, reduce time spent on due diligence, and remain compliant with relevant regulations, without delaying transactions. Credas is a UK government-certified identity service provider, with ISO 27001 and Cyber Essentials Plus certifications, offering features such as branded customer portals, configurable journey builders, and real- time right to work background checks. A recent partnership between Credas and Goodlord Group, using
234 Barclays Eagle Labs, “Lawtech Member Validient”, available at https://labs.uk.barclays/our-industries/lawtech/lawtech- members/validient/. 235 Sion Barry, “22 Great Welsh start-up firms to watch” (Wales Online, 14 November 2022), available at https://www.walesonline.co.uk/news/wales-news/twenty-two-great-welsh-start-25491127. 236 Lawtech UK, “Lawtech Sandbox Diaries: Validient” (8 February 2023), available at https://lawtechuk.io/news/sandbox- diaries-validient. 237 Barclays Eagle Labs (n 232). 238 Ieuan Leigh, “Wales Legal Awards - Innovation Sponsors” (Validient, 4 May 2022), available at https://validient.com/news/wales-legal-awards/. 239 See https://credas.co.uk.
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