A new digital platform launched by property technology company e4 Strategic aims to ‘modernise post-offer processes and improve efficiency in the conveyancing process’ to ‘address the genuine needs’ of conveyancers and lenders.
The VERSA platform has been built to address what e4 Strategic says is ‘one of the most persistent challenges to the UK property market’ – the manual offer-to-completion phase of the conveyancing transaction.
The company explained:
“While much of the focus in recent years has been on digitising the front end of the mortgage process from application to offer, the post-offer stage has been mostly overlooked and remains an often slow and frustrating part of the transaction for all involved.
“VERSA delivers a fully digital workflow that securely connects, in real time, lenders with conveyancers and other key parties throughout the homebuying and remortgage processes.”
The platform includes workflow and case tracking, secure real-time communication between parties, and digital document management with e-signatures and validation. e4 Strategic says conveyancers using the platform can expect faster transaction times, easier and quicker communication with lenders, and faster response times. The consumer will benefit from improved transparency of the conveyancing process and full progress updates, the company adds.
Simon Slater is CEO of e4 Strategic (pictured). He explained:
“Many lenders still rely on emails, faxes and outdated systems to communicate with conveyancers, with queries and updates being processed manually and tracked across disconnected systems.
“With VERSA, we’re empowering lenders and conveyancers by providing a digital platform to make their working lives easier; we are giving them the tools they need to improve transaction times, reduce their overheads and mitigate risk, as well as deliver a far better experience to their clients and customers.”
The platform has been developed in the UK over the last four years in collaboration with mortgage lenders and conveyancing experts, backed by two decades of experience serving the South African market.
Slater added:
“What truly sets VERSA apart from other property technology is how innovative it is. [It] has been built with the aim of reimagining how lenders and conveyancers can collaborate in a modern, digital way.
“VERSA is not tweaking with what’s already there. Instead it takes a clean-slate approach with expert input from leading mortgage lenders, conveyancers and a range of technology partners, to deliver a platform that will address the genuine needs of the profession, clients and customers.”
2 responses
Great overview! VERSA’s end-to-end digital workflow—real-time lender-conveyancer collaboration, secure document management, e-signatures, and case tracking—addresses a critical pain point in the post-offer conveyancing stage. The improved speed, transparency, and communication promise to enhance both professional efficiency and client confidence. Well done!
Yippee!! another online platform that claims to improve the conveyancing process. Its getting like watching the footaball, you’ll need 10 subscriptions to 10 platforms to do 1 transaction. The governement needs to step in and force all these companies to open source their platforms so that they all communicate with each other, allowing truely integrated communications with genuine choice for all parties concerned. In the end its the conveyancer that gets the grief from the client when the transactions still take 3 months to complete.