E4 Strategic launches digital property exchange platform
E4 Strategic has released VERSA Convey, a digital workflow platform for property exchange.
The platform was developed with lenders and conveyancers to improve the post-offer process and support the government’s reforms to home buying.
It has been designed to reduce duplication and streamline communication, aiming to resolve issues before they affect completion.
VERSA Convey has been integrated into E4 Strategic’s conveyancer panel management platform, VERSA Assure, giving lenders a view of panel governance and transactions on a connected system.
E4 Strategic said this would enable risk and operations teams to identify bottlenecks sooner, reduce avoidable delays and improve certainty.
The VERSA Convey platform has real-time case management and workflow visibility, digital query management with audit trails, and Electronic Certificate of Title (eCOT) processing and validation. Other features include document management and real-time insights.
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Simon Slater, CEO of E4 Strategic, said: “The mortgage industry has invested heavily in improving the journey to mortgage offer, but the period between offer and completion has not evolved at the same pace.
“It remains one of the few parts of the transaction where multiple organisations are still trying to progress cases through disconnected systems, manual administration and email chains.”
He said the government was right to focus on making home buying quicker, more transparent and digitally enabled, but “achieving those ambitions is about far more than introducing new technology or new regulation”.
Slater added: “It requires the industry to rethink how information is shared, how decisions are managed and how different organisations work together throughout the transaction.
“If we’re serious about delivering the next step change in home buying, there will inevitably be occasions where organisations that have traditionally operated independently might need to collaborate more closely. That may not always be commercially straightforward, but creating an improved consumer experience will depend on building a more joined-up process across the industry.
“VERSA Convey has been developed with that objective in mind and so rather than adding yet another technology platform into the process, it creates a structured workflow that brings lenders and conveyancers together around the same transaction, giving both lenders and conveyancing firms greater operational insight while helping cases progress more efficiently through to completion.”
