Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

UK Finance and Major Banks Trial Digital Verification for Property Transactions

UK Finance and several major lenders are piloting a voluntary digital verification service that could be used in property transactions, online purchases, or when opening an online account. The participating banks include Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, NatWest Group, and Santander.

The initiative aims to create a simple and secure way for individuals to verify their personal details using their banking app. According to UK Finance, many online processes currently require customers to verify their identity multiple times, often by sharing several physical documents or pieces of information to confirm details such as age or address.

The proposed service would allow relevant verified information—such as name, age, or address—to be shared securely with third parties, underpinned by the trust customers already have in their banks and building societies. Any future services would be voluntary and require explicit consumer consent, giving users control over how their data is used. This could enable access to certain services without the need to share documents like passports or utility bills.

A proof-of-concept programme has already been completed, using synthetic data to assess the technical, legal, and operational requirements for a digital verification service. The next phase will involve a live pilot in a controlled real-world environment, expected to take place in the coming months.

While this project is separate from the government’s work on digital identity, it will be aligned with the UK digital verification services trust framework. UK Finance has indicated it is open to contributions from other organisations for future pilot activities or to explore how the service could support their customer journeys.

This development may be relevant to UK letting agents and inventory clerks, as digital verification could streamline identity checks and reduce reliance on physical documents during property transactions.