Landmark Information Group has partnered with B2B payment solutions provider Shieldpay to simplify the conveyancing payments process.
The partnership was formed in order to create a path to transaction due diligence, decreasing the burden of administrative tasks for conveyancers, creating increased transparency, and reducing the risk associated with managing and distributing funds.
This followed the launch of LandmarkConnect, a series of digital hubs aimed at integrating and streamlining the home buying and selling process, from estate agency and conveyancing to lending and valuations.
Robert Gurney (pictured), managing director of Ochresoft, a Landmark Information Group company, said: “It is no secret that the UK’s home moving process isn’t working well, and there are systemic challenges facing every property professional.
“Conveyancers in particular grapple with increased workload burdens due to ongoing compliance tasks, and lack of timely upfront information due to the challenges of connecting cross-industry stakeholders.”
He added: “This partnership with Shieldpay will considerably help speed up the home-moving transaction process by ensuring well prepared fund transfers to avoid unnecessary and time-consuming back and forth between lenders and conveyancers.
“More broadly, this is another vital step in the ongoing evolution of the LandmarkConnect offering and our vision to improve the whole of the home moving market for everyone involved.”
Shieldpay’s digital platform, which has processed over $6.5bn (£5.2bn) transactions, will allow conveyancers with access to LandmarkConnect to have verifiable control of funds management at dates and times of their choosing.
Claire Van der Zant, director of strategic partnerships at Shieldpay, said: “The heart of the Shieldpay mission is to disrupt the high-value, complex payments ecosystem with simple, seamless and secure solutions for the transactions that matter the most.
“The opportunity to work with Landmark Information Group in facilitating a fast, transparent and safe conveyancing solution is exciting from a payment innovation perspective, particularly because this partnership aims to bring the entire industry together to make the home moving process more efficient.
“Conveyancing is complex. Landmark’s approach to bring every part of the process together to drive change is paving the way for meaningful and lasting industry change.”
