e4 Strategic has joined the Open Property Data Association (OPDA) to help improve data sharing in UK property transactions.
The company, which recently launched the VERSA digital workflow platform in the UK, aims to make it easier for lenders, conveyancers and other parties to share information during homebuying and remortgaging.
The VERSA system has been designed to address manual and fragmented processes in the UK mortgage market.
It offers a fully digital workflow, connecting lenders and conveyancers securely in real time.
The platform features milestone-driven workflows, secure messaging, digital document management with e-signatures, and full data integration via application programming interfaces (APIs).
It allows panel management and case tracking to be handled on a single system.
e4 Strategic said lenders using VERSA can expect more transparency, faster transactions, and cost savings.
Simon Slater (pictured), CEO at e4 Strategic, said: “Joining the OPDA fits perfectly with our mission to bring improved digital solutions and infrastructure between offer and completion.
“Fragmented systems, duplicated data, and poor visibility are still costing the industry time and money, as well as creating real stress and frustration for consumers across the UK.
“The only way we are going to succeed is to work together through open collaboration and with all the core participants and systems talking to one another.”
Slater added: “The work that the OPDA is doing is vital in this regard, in terms of the sharing of trusted property data.
“From our perspective we are building VERSA to integrate with the wider digital property landscape so the OPDA’s work gives us a clear and workable collaborative path to making that happen.
“These are exciting times for everyone in the industry.”
Maria Harris, chair at OPDA, said: “The industry is crying out for connected and truly integrated digital solutions that are committed to data, trust, and interoperability.
“Implementing the UK’s first open-source data standard proved the ambition and dedication of our members, and our current work streams, including delivery of the Smart Data Challenge prototype, will elevate this to drive further change in the industry.
“We’re delighted that e4 Strategic have joined us to help drive these charges and to show how their platform can enable a better experience.”
