Coadjute, a network for decentralised workflow and data sharing within the property industry, has agreed a project to develop new mortgage and home buying technology with a consortium of leading property software providers and banks including NatWest.
The purpose of the technology is to speed up and simplify the entire home buying process and make it available via NatWest’s mobile banking app. To do this, a consortium has been formed with the leading software providers from each stage of the home buying process – Dezrez Estate Agency Software, Redbrick Solutions Conveyancing Software, eTech Surveyor Software, Search Acumen Property Data, Conveyancing Data Services Property Data, and LMS Panel Management Software.
Christian Woodhouse, Head of Data and Strategic Products of Search Acumen, said:
“We’re in a very exciting time for proptech innovation where we’re able to back up the market hype around distributed ledger technology with real action.
“Anyone who has bought or sold a property understands the frustration of the painfully slow and complex process that relies of inefficient, often paper-based correspondence between lawyers. We’re pleased to be part of a collaborative, forward-thinking project that could significantly improve the efficiency and transparency of the property transaction process for lawyers through digital innovations.”
“We’ve been vocal proponents of implementing innovative technologies into the property transaction process for many years, so we’re delighted to be playing a part in bringing a working blockchain solution to the UK property market. Those businesses that are not already thinking ahead to embrace the likes of blockchain in their day-to-day operations are not planning to win. Recent comments from the Housing Minister underline what we have known for some time: the digital revolution is here and will reward those firms who embrace new opportunities to gain a competitive edge.”
This article was submitted to be published by Search Acumen as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
