With VERSA, a new digital workflow management platform developed by digital solutions provider e4 Strategic, the company has joined the Open Property Data Association (OPDA) to support efforts to streamline the flow of property data between lenders, conveyancers and other stakeholders in the home buying and remortgaging processes.

Built to tackle some of the more challenging aspects in the UK mortgage market – by addressing the manual and often fragmented nature of the process from offer-to-completion – the VERSA platform is a digital workflow solution securely connecting lenders and conveyancers with each other throughout the home buying and remortgaging processes.

The VERSA platform provides a full suite of highly innovative products that digitise the process, including:

  • Milestone-driven intelligent workflows and case tracking;
  • Secure real-time communication between parties;
  • First-to-market query solutions with intelligent automation;
  • Digital document management with e-signatures and validation;
  • Full system and data integration via API's; and
  • A single platform to manage both panel management and digital case workflows

By using VERSA, lenders can expect greater transparency in the process, more certainty and control in regard to their key requirements, direct cost-savings, faster transaction times, and soft touch way to manage their panels. Conveyancers will benefit from the same improvements, plus easier communication and faster resolution to all lender queries, and automated digital workflows.  These benefits will all translate into a much better consumer experience.

The OPDA was founded in June 2023 to promote the adoption of trusted open property data and technology standards across the property and mortgage sectors. By encouraging a consistent approach to digital data, it aims to create a more efficient, secure and user-friendly experience for both consumers and professionals.

Since its inception, OPDA has delivered a range of open-source tools and data standards, developed in collaboration with stakeholders across the property professions. These tools are already helping to improve the process and speed up transactions.

Simon Slater, CEO of e4 Strategic, commented:

“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, with all the core participants and systems talking to one another.  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. This also aligns well with the Government's focus on sharing data and digitalising the home buying and selling process.  These are exciting times for everyone in the industry.”