John Reynolds, Chief Operating Officer at Coadjute joins host David Opie on the latest Today's Conveyancer podcast to discuss the future of the conveyancing market, and what "digitisation" means to Coadjute.
John identifies 5 elements to a digital property market
We are moving from a physical world of lawyers offices, money, contracts and titles, to a digitised version of these; and in order to facilitate this there needs to be market infrastructure to enable this.
The risk posed by moving into a digital world is security; security of identity, data, money and more. And without the ability to trust in the existing processes, we have, says John, this constant revalidation and rechecking of data.
Challenged around what appears to be a limited amount of joined up thinking amongst technology providers, John points to the importance of agreeing common standards and formats for data as it is passed around the transaction stakeholders. Data standards are an industry building block, to help facilitate what digitisation hopes to achieves.
John also addresses the work Coadjute have done with their recently launched Digital Property Data Pack and how that fits into the current technology available to conveyancers.
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