Pexa is working with Iress, Ncino, Sopra Banking Software and Ohpen to find opportunities to “enhance the integration” of its platform with lenders and brokers and identify “friction points” in the conveyancing experience.
The firm has also added PLS Solicitors, The Partnership, and Dutton Gregory Solicitors to its network as new customers.
They will work with lenders that have onboarded with Pexa and benefit from “streamlined administration, quicker processes and greater transparency for clients”.
Pexa said it planned to onboard more lenders and law firms throughout this year and next year it aimed to widen its proposition to include the sale and purchase process.
The company entered the UK market in February last year bringing on its first lenders in August. This included Hinckley and Rugby Building Society and Shawbrook Bank.
It also bought Optima Legal from Capital in September to support its UK roll-out.
‘Embracing a digitised remortgage system’
James Bawa, Pexa UK’s CEO, said: “We have made significant progress to date in transforming the property market for consumers, lenders and law firms. The raft of collaborators we continue to engage with at pace is testament to the shared vision the industry holds in needing to change.
He said that Iress, Ncino, Sopra Banking Software and Ohpen “share our entrepreneurial spirit”.
“Embracing a digitised remortgaging process will reduce the time, risk and costs involved, for consumers, lenders and firms alike,” Bawa added.
He continued that this “couldn’t come at a more critical time” and it was pleased to have found such “progressive technology collaborators”.
Bawa said that PLS Solicitors, The Partnership, and Dutton Gregory Solicitors’ “willingness to be early adopters” and their ability to “provide unique industry and business insights” would help shape its product development and offering.
“We are just at the beginning. We’ve invested a great deal into transforming the UK property market and improving the remortgage process.
“As we build to reach a critical mass in the remortgage market, we want to bring the same benefits to sale and purchase, to deliver on the potential digital payment and conveyancing can make to the broader property market,” he noted.
