A new digital workflow management platform, VERSA, has launched in the UK with the goal of transforming the post-offer phase of mortgage and conveyancing transactions.
Developed by digital solutions provider e4 Strategic, the platform is designed to replace manual processes with a streamlined, real-time digital solution.
Built over four years in collaboration with UK mortgage lenders and conveyancing experts, VERSA offers an end-to-end system that connects lenders, conveyancers and other stakeholders through a single interface.
The platform includes milestone-driven workflows, real-time communication, e-signature functionality, API integrations and automated query resolution tools.
Simon Slater (pictured), CEO of e4 Strategic, said: “For years, the industry has been talking about end-to-end digitisation of the mortgage process – and whilst great strides have been made up to the offer stage, the experience from offer through to completion is still far too slow, too manual, and too opaque. That’s what we at e4 set out to address.
“Many lenders still rely on emails, faxes and outdated systems to communicate with conveyancers, with queries and updates being processed manually and tracked across disconnected systems.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.
“It’s all about empowering users, joining the dots and bringing proper workflows and visibility into a part of the process that’s been left behind with the advancements in technology.
“What truly sets VERSA apart from other property technology is how innovative it is. VERSA 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.”
VERSA is now available to UK lenders and conveyancing firms, with benefits including faster transaction times, reduced costs, enhanced panel management, and improved transparency for all parties involved.
