Acquisition, investment in biometrics add layers for financial services compliance

Fraud detection technology providers are joining forces to layer biometrics and other digital defenses as protection against emerging and sophisticated threats to financial services. A consolidation in the UK market and a U.S. company investing in a European one are among the latest examples.

SmartSearch acquires Credas

Anti-money laundering and compliance specialist SmartSearch has acquired legal and property sector identity verification provider Credas to expand its product portfolio and market reach.

SmartSearch will integrate Credas’ brand and specialized technology, which includes comparisons of ID documents and selfie biometrics for identity proofing. The latest major addition to Credas’ product portfolio is a digital wallet launched in July.

The combination will result in further innovation, enhanced customer experiences, and spur continued growth in  increasingly regulated markets, according to the announcement.

“Regulated firms are under pressure to meet rising KYC and AML demands while delivering seamless onboarding,” SmartSearch CEO Phil Cotter says in the announcement. “By joining forces with Credas, we combine our strengths to deliver unmatched innovation and service. Our clients will see immediate benefits as we continue to set the standard for digital compliance.”

SmartSearch Chief Transformation Officer Collette Smith reviewed the key regulatory trends of 2025 in a guest post for Biometric Update in March.

SmartSearch has more than 7,500 clients, and claims 31 percent year-over-year growth since 2013. Triple Private Equity took a majority stake in the company with an investment in 2024. Credas has about 1,000, but those are almost all in the legal and property sectors.

“With financial crime on the rise and fraud tactics evolving, digital identity verification is more critical than ever,” comments Credas CEO Tim Barnett. “Partnering with SmartSearch empowers us to help even more businesses protect themselves and focus on delivering quality service.”

The terms of the transaction were not disclosed.

Financial services software provider Iress is integrating SmartSearch’s AML checks with its Plannr CRM and back-office platform through a strategic partnership. Iress clients will gain access to SmartSearch’s AML verification within its Xplan financial advice software to deliver fast compliance checks with high pass rates.

OneSpan invests in, adds ThreatFabric behavioral biometrics

U.S.-based OneSpan is partnering with ThreatFabric to bring more fraud prevention capabilities to the financial services industry, and also making a strategic investment in the fraud detection and mobile threat intelligence company.

Netherlands-based ThreatFabric’s layered defenses, including malware risk detection and behavioral biometrics, will help OneSpan deliver robust and proactive protection against digital threats, the new partners say.

Authorized Push Payment fraud is called out specifically as one of those threats which has increased dramatically over the past few years.

OneSpan will be represented on ThreatFabric’s board of directors and its newly formed strategic advisory board.

“Our investment in ThreatFabric underscores OneSpan’s commitment to staying ahead of emerging digital threats,” says Victor Limongelli, CEO of OneSpan. “Mobile devices are the dominant access point for consumer financial services, leading to the rise in device compromise, malware, and cyberfraud. Partnering with ThreatFabric enhances our capabilities and sets a new standard for protecting customers in a mobile-first world — keeping trust and security at the heart of digital banking.”

“We are thrilled to welcome OneSpan as a strategic investor and partner,” said Han Sahin, CEO of ThreatFabric. “We’re excited OneSpan underwrites our vision: to secure every mobile journey with AI‑driven behavioral biometrics and market-leading advanced malware defense.”

“We are thrilled to welcome OneSpan as a strategic investor and partner,” says Han Sahin, CEO of ThreatFabric. “We’re excited OneSpan underwrites our vision: to secure every mobile journey with AI‑driven behavioral biometrics and market-leading advanced malware defense.”

Article Topics

acquisitions  |  AML  |  biometrics  |  Credas  |  fraud prevention  |  funding  |  OneSpan  |  SmartSearch  |  ThreatFabric