"To bring about change in the mortgage process, it needs to be as simple and easy as possible for lenders and law firms to embrace automation."
- Joe Pepper, UK CEO of PEXA
Digital property exchange platform, PEXA UK, has launched a new API hub in a bid to help streamline the conveyancing process.
The Hub hosts all of PEXA’s APIs that have been purpose built for the UK market, enabling UK lenders and law firms to access them in one place.
APIs are already key to powering the delivery of 48-hour remortgages to PEXA's customers and the new launch marks an important step in PEXA’s plans to extend its offering into sale and purchase in early 2025.
With a range of APIs currently available, the PEXA platform enables many of the manual processes associated with property transactions to be digitised, with data flowing directly between lender or law firm systems and the PEXA platform. The APIs can be adopted iteratively to suit an organisation’s specific requirements, allowing for automation of aspects of the case journey as desired.
Through these APIs, a remortgage can be managed end-to-end through the PEXA platform within 48 hours, with APIs automating all key activities without any further need for manual processes. Customers will additionally have access to enhanced case tracking capabilities, with real-time updates available to existing systems via API as case milestones are reached in the PEXA platform.
Having launched PEXA Pay in September 2022, resulting in the UK’s first ever digitally enabled remortgage transaction, the firm has since established its UK headquarters in Leeds following its acquisition of conveyancing firm Optima Legal in December 2022. Having already onboarded Shawbrook Bank and Hinckley & Rugby Building Society, PEXA has most recently announced it is progressing a strategic partnership with NatWest that will see the lender utilise PEXA’s digital property exchange technology to deliver 48-hour remortgage transactions to its customers.
Joe Pepper, UK CEO of PEXA, said: “We recognise that to bring about change in the mortgage process, it needs to be as simple and easy as possible for lenders and law firms to embrace automation. Doing that means making any tech integrations with existing infrastructure as seamless as possible, and that is exactly why we have invested heavily in this new API Hub. It demonstrates PEXA’s commitment and readiness to collaborate with our market peers and work to improve the property transaction journey. Our work to support lenders and conveyancers alike is driving progress in the market, and we are delighted to be offering an updated suite of tools ready for immediate use that can meet the diverse needs of our partners and customers.”
