The digital evolution continues at speed and, as consumer expectation of accessing and using information online become ever more the norm, it’s vital that conveyancers – and every other part of the transaction chain – are able to deliver the next generation client care that homebuyers have come to expect.
Executive summary
- Many solicitors are adopting new technologies to automate elements of their operations but digital technology could be used more in the property buying process. Digitisation can improve the speed and efficiency of home buying, make cost savings, free-up time to handle more complex tasks and reduce transaction drop-out rates.
- Innovations continue to be made with case management tools, automated client update services and intelligent search ordering platforms – all designed to support solicitors conducting everyday conveyancing operations.
- Home buyers increasingly want to receive information, such as property searches, electronically – via emailing and web services. Over time searches have developed from paper-based documents to digitised reports delivered electronically via PDF and email to online portals where clients can review updates and data relating to their case.
- As digital data becomes more readily available, the range of search reports and property risk data has expanded but so has the complexity of determining what is needed for each transaction.
- E-conveyancing aims to create a fully digitised end-to-end process for a property transaction. Conveyancers can interact and share legal paperwork and searches in a digital environment with all parties; manage transfer submissions to Land Registry electronically; and improve identify verification checks.
Full article on Mortgage Finance Gazette
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