e4 introduces VERSA conveyancing process tool

The aims of the platform, which has been developed in the UK over the past four years, are to modernise the post-offer processes and improve efficiency in the conveyancing process for UK mortgage lenders and conveyancers.

The platform has been built to address “the manual and fragmented nature of the offer-to-completion phase of the conveyancing transaction” according to e4.
VERSA is designed to deliver a fully digital workflow that securely connects, in real time, lenders with conveyancers and other key parties throughout the homebuying and remortgage processes.

Also included are milestone-driven intelligent workflows and case tracking, secure real-time communication between parties, digital document management with e-signatures and validation, among other aspects.

Simon Slater, CEO at e4 Strategic (pictured above), commented: “For years, the industry has been talking about end-to-end digitisation of the mortgage process - and while 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“Many lenders still rely on emails, faxes and outdated systems to communicate with conveyancers, with queries and updates being processed manually and tracked across disconnected systems.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.”