Landmark Information Group has agreed a strategic partnership with B2B payment solutions provider Shieldpay, in move designed to to instil “certainty, confidence and simplicity” in the conveyancing payments process for the benefit of conveyancers, house buyers and sellers alike.
The firms claim the partnership creates a new path to transaction due diligence, decreasing the burden of administrative tasks for conveyancers, creating increased transparency throughout the conveyancing process and reducing the risk associated with managing and distributing funds.
This announcement follows the launch of LandmarkConnect, a series of digital hubs aimed at integrating and streamlining the home buying and selling process across the whole industry, from estate agency and conveyancing to lending and valuations. It extends the principle of increased digitalisation, risk mitigation and collaboration across the house-buying process.
Shieldpay’s digital platform, which has processed over $6.5bn transactions, will allow conveyancers with access to LandmarkConnect to have transparent and verifiable control of funds management at dates and times of their choosing.
Robert Gurney, managing director of Ochresoft, a Landmark Information Group company, said: “It is no secret that the UK’s home moving process isn’t working well, and there are systemic challenges facing every property professional. Conveyancers in particular grapple with increased workload burdens due to ongoing compliance tasks, and lack of timely upfront information due to the challenges of connecting cross-industry stakeholders.
“This partnership with Shieldpay will considerably help speed up the home-moving transaction process by ensuring well prepared fund transfers to avoid unnecessary and time-consuming back and forth between lenders and conveyancers. More broadly, this is another vital step in the ongoing evolution of the LandmarkConnect offering and our vision to improve the whole of the home moving market for everyone involved.”
Claire Van der Zant, director of strategic partnerships from Shieldpay said: “The heart of the Shieldpay mission is to disrupt the high-value, complex payments ecosystem with simple, seamless and secure solutions for the transactions that matter the most. The opportunity to work with Landmark Information Group in facilitating a fast, transparent and safe conveyancing solution is exciting from a payment innovation perspective, particularly because this partnership aims to bring the entire industry together to make the home moving process more efficient.
“Conveyancing is complex. Landmark’s approach to bring every part of the process together to drive change is paving the way for meaningful and lasting industry change.”
