Sponsor Spotlight: Armalytix

Sponsor Spotlight: Armalytix

The British Conveyancing Awards, sponsored by Dye & Durham, simply would not happen without the support of the industry.

Thank you to all those who have entered and sponsored the event which this year is hosted as a hybrid event; with an in person ceremony at the stunning Church House in London, simultaneously live streamed via The British Conveyancing Awards website.

Our 2022 ceremony is a departure from the focus of the 2021 awards. To simply repeat the 2021 awards would miss the point of where the conveyancing industry is going. We are entering a different phase for conveyancers with a flatter market, increasing on and offline fraud risks, PII, the balance of flexible working and continued digitisation all presenting new and different challenges.

Our 2022 categories and supporters reflect this shift in emphasis and we’re delighted to introduce them through a series of Supporter in Focus pieces. Alongside Technology Enabler of the Year sponsors Armalytix we look forward to recognising the very best our industry has to offer.

First of all, tell us who you are and what you do

Tom Lyes, I head up Legal and Property for Armalytix, helping professionals tackle challenges around source and proof of funds and enable them to stop using yesterday’s technology to solve today’s problems. Armalytix gives you a range of sophisticated source of funds and wealth checks including market-leading analysis on accumulation and source of funds, questionnaires and bank statements with virtually highlighted transactions.

What prompted you to support The British Conveyancing Awards (again) this year?

The 2021 awards really focused on and rewarded those across the profession at a time when they needed it most. It provided a welcome distraction and gave well deserved recognition for businesses, teams and individuals. This year we wanted to get involved and support the awards because although the narrative is slightly different, the need to appreciate and celebrate the very best of the conveyancing profession has never been more important.

Why did Technology Enabler of the Year stand out for you as one to throw your support behind?

We’ve been in the press a lot recently, with articles such as this in Property Week, discussing the increasing importance of smart technology. The day-to-day use of this technology has (at least) 3 clear advantages for businesses:

  • It automates a lot of time-consuming and frustrating processes for professionals and their teams, driving efficiency and freeing up time for more important work
  • It can help in fighting fraud and financial crime
  • It provides clients with vastly improved, and simpler experiences

Every day, financial, legal, conveyancing and professional services businesses are getting buried under huge volumes of paperwork, slowing down processes, frustrating clients and making it harder than ever to keep track of the truth. This poses all sorts of problems for businesses that go beyond the immediate financial risk of fraud and can potentially damage a firm’s reputation.

The Technology Enabler of the Year is therefore ideal for Armalytix to support – rewarding the innovative work being done by technology companies and the visionary businesses that embrace their products, with all the advantages that come with them. Together they are making professional services better, faster and safer too.

How do you see the 2022 conveyancing market shaping up?

Transactionally, I see the market realigning itself to one of a more traditional housing market, which contains seasonality and which you can predict with some accuracy. I suspect we’ve seen the end for now of the dramatic peaks and troughs that 2021 provided. In other areas, I think we will continue to see consolidation across the market, further growth in the consultancy model and I really hope businesses are brave and keep prices high and are not tempted to get into a race to the bottom. Lastly, I would expect to see real movements in a couple of government-led initiatives around Digital ID and reservation agreements.

 What changes or improvements do you see need to be made in the conveyancing sector over the next 12-18 months?

I’d like to see more businesses and conveyancers embracing smart technology to allow legal and property professionals to spend more time on the important stuff – rather than the increasing tide of admin and regulation.

I’d also like businesses to better nurture and protect the talent within the profession and give staff the best opportunity to succeed by investing in their conveyancing people and departments so that we don’t see a tidal wave of outstanding individuals leave to pursue more rewarding challenges.

What are you doing to lead or be part of that change?

We’re continuing to develop and invest in our source of funds product all the time to help conveyancers of all sizes better manage the tide of admin and regulation. We’re working with a number of partners across the profession such as Minerva, X-Press Legal and Conveyancing Data Services so that firms can embrace our smart source of funds technology in a way that suits them and to reduce the amount of admin. We’re also actively involved in the Etive Digital ID project as an attribute provider for source of funds.

Do you have any messages for the sector and the firms and individuals entering this year’s awards?

Be brave and be bold. Winning an award can be a great fillet for any business but its greatest asset can be to energise those behind the scenes responsible for making the business tick. These people are the glue that holds Conveyancing together. I look forward to seeing you all in person in March.

Thank you to Armalytix for their support at The British Conveyancing Awards 2022.

Join the Conversation #BCAwards2022


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