Search Acumen bolsters conveyancing tools after takeover
Property data tech provider Search Acumen has introduced a digital client onboarding tool to speed up communication between legal teams and clients.
Now part of Search Acumen’s suite of conveyancing tools, the Electronic Client Onboarding Solution (eCOS) marks the first tech-sharing arrangement between the business and its new owners, InfoTrack, which acquired the company in March 2021.
InfoTrack, a provider of digital solutions for conveyancers and property lawyers, launched eCOS in 2017 as a way for law firms to tackle key onboarding processes within a single platform.
The tool allows law firms to collect essential client information and conduct verification checks, replacing manual processes.
Tasks made possible through eCOS include verifying identities and proof of funds, completing onboarding questionnaires and Law Society protocol forms and signing and returning client care documents.
Search Acumen said the system allows all onboarding tasks to take place “in a matter of minutes”, reducing the time spent onboarding by almost an hour per case.
Andrew Lloyd, managing director at Search Acumen, said: “Joining forces with InfoTrack while continuing to operate under the Search Acumen brand will enable us to accelerate our vision to transform the experience of property law through digitised data processes.
“This milestone is a resounding vote of confidence in our ability to enhance the present and shape the future of the market.”
Search Acumen aims to deliver an end-to-end digital due diligence experience for residential and commercial property transactions, having integrated more than 60 datasets to its platform ForeSite, which provides users with instant property data.
In July, the company launched an interactive data tool – Interactive Data Snapshot – to provide early warnings in property transactions.
The tool gives conveyancers and property lawyers access to live property due diligence data without having to wait for official local authority search results.
Commenting on Search Acumen’s acquisition by InfoTrack, Lloyd said: “The partnership will allow us to grow the business and develop new technological solutions for our customers, while continuing to leverage our reputation as an innovator in digital conveyancing technology.
“This joint commitment is already bearing fruit. Incorporating InfoTrack’s onboarding technology into Search Acumen’s proposition puts us one step closer to a complete end-to-end digital journey for property due diligence, saving lawyers and their clients hours of time and dragging property transactions into the 21st century.
“This couldn’t come at a better time as the booming property market, combined with the realities of operating through the pandemic, has brought into sharp focus the necessity of leveraging technology to drive efficiencies in the property buying process.”
Scott Bozinis, CEO of InfoTrack, added: “Collaborating with the Search Acumen team allows InfoTrack to develop its technology further, address gaps in our product coverage, and benefit from the reputation Search Acumen has built as a leader in its field that habitually challenges the status quo.
“We are excited about the future and believe that our two brands are perfectly aligned to develop and implement a digital-first mindset for residential and commercial firms across the property market.”