WEEKLY NEWS ROUND UP – 25/08/23
Daily bite-sized proptech and property news in partnership with Proptech-X.
Click on link below and start to chill.
Sprift Soundcast ‘THE ZANDVORT MIX’ – Guest DJ Jason Tebb CEO OnTheMarket
Every Friday look out for the new Sprift Soundcast, as you never know who will be the Guest DJ
Full disclosure Sprift are a client of my associated business Proptech-PR ‘A consultancy for Proptech Founders’ but I am using this publication to promote the Friday Sprift Soundcast as I feel in these turbulent times, we need more companies like Sprift helping to turn on those smiles.
For those who have not heard about the Sprift Soundcast, Sprift Founder and CEO Matt Gilpin explains all you need to know. You can read the full article by hitting the button below, but we would much rather you hit this BUTTON and feel ‘The Zandvoort Mix’ immediately ease your mind and put you in a happy place.
Matt Gilpin – ‘We are very proud to be a part of the property industry; an industry that has more driven and ambitious people than any other. We know that nothing uplifts and motivates us all quite the way that music does… be it the tune that pumps you up for the gym, the playlist you select for focusing on work, what you listen to when you’re chilling out away from the office or that one track that gets you in the mood for a great night out’.
First AML partners with RICS to support surveyors and alleviate AML compliance concerns
First AML, the global scale up which streamlines the entire anti-money laundering (AML) onboarding and compliance process, has announced a partnership with the Royal Institute of Chartered Surveyors (RICS), to provide chartered surveyors with a tailored AML solution across the United Kingdom, Australia (pending Tranche 2) and New Zealand.
With the partnership, First AML will reduce the burden of AML compliance while simultaneously strengthening AML safeguards. It will enable RICS’s 134,000+ professionals to navigate AML compliance processes with efficiency and security, enhancing the integrity of their operations.
Conventional AML processes can be complex, time-consuming, and detract from revenue-generating activities. First AML aim to alleviate these burdens through this solution, which saves time while ensuring robust compliance.
With First AML’s platform, verification, record-keeping and complex ownership structures can be promptly addressed, ensuring high verification rates and a streamlined process. This collaboration provides a comprehensive AML verification and workflow management platform that consolidates all compliance needs for customer identification, auditing and data storage.
For example, Flude Property Consultants (a member of RICS) selected First AML to support its AML efforts in 2022. As a result, Flude witnessed a reduction in time spent on administrative tasks and a reassured sense of compliance. The positive impacts of this collaboration bear significant relevance for all RICS members with AML obligations, pointing towards a broader applicability and benefit of the partnership.
LSL look to acquire TenetLime to scale Financial Services
In February 2020, LSL were looking to acquire the assets of Countrywide PLC, which was in its death spiral, so at that time LSL were looking to be an agency superpower. A we know the deal never happened and the Connells Group swooped in and did the necessary.
Fast forward 40-months and earlier this year LSL divested itself of the 183 ‘owned’ estate agency branches that it held, a clever move reducing a £110M liability. It also tidied up the business by selling off First2Protect and Embrace F/S seeing an 18M return.
So LSL had completely changed its strategy, though being connected to estate agency it was looking to the fiscal vertical as the driver for future profits. Which though a brave move proved costly with property purchasing finance being down by over 25%. A reflection on the industry as a whole rather than a metric specific to LSL.
Now it has been announced subject to ratification by the (FCA) Financial Conduct Authority that LSL is buying the regulated mortgage and protection advisory network of TenetLime. If the deal goes through LSL’s ranks will be swelled by over 230 advisers with a possible tranche of nearly 50 to be passed across in the near future.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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