The platform, named Smoove Start, has been launched following an initial pilot with select estate agents. It brings together key tasks that take place when agents set up a new buyer or vendor, including ID and anti-money laundering (AML) checks, energy performance certificates (EPCs) and title deeds. Smoove Start is being offered to estate agents on a subscription basis.
Smoove ‒ the business formerly known as ULS Technology, and parent of eConveyacer ‒ said that the platform would improve transparency, and with it, reduce the number of transactions that fall though, by bringing visibility to any issues from the outset.
Previous research from the firm found that around a third of sales fall through, costing clients an average of £2,000 a time.
KYC ‘a major pain point’
Simon McCulloch, chief commercial and growth officer at Smoove, said the time-consuming nature of the ‘knowing your customer’ checks was a “major pain point” for estate agents, arguing the new platform would improve transparency and efficiency between agents, buyers and sellers in a sale.
He continued: “Upfront checks, whether this is for anti-money laundering, ID Verification, EPCs or land registry checks, provide an early warning system of any issues that might slow up the move.
“Smoove is constantly innovating, keeping up with industry trends and regulations so that other parties in the home moving process don’t have to. The platform is simple, efficient and all in one place for agents to use.”
