It commits to share its technological expertise to advance the adoption of open property data standards
Financial services technology company Phoebus has become an associate member of the Open Property Data Association (OPDA).
As the UK’s first trade association creating and driving the adoption of open property data, OPDA seeks to improve the homebuying and mortgage process, as well as set the foundations for the future of an open property data trust framework.
Specialising in technology platform systems and services for residential and commercial mortgages and savings, Phoebus said it will share its technological expertise and assist OPDA by advising on technical aspects.
In addition, Phoebus will collaborate with OPDA to advance the adoption of open property data standards in the homebuying and selling domain. It will also work alongside fellow OPDA members, including property data providers, property professionals, and others who recognise the importance of open data to the property industry.
“We want the property industry to evolve into a more digital environment, where the storing, accessing and sharing of data doesn’t create the barrier to efficient property buying and selling that it does today,” Adam Oldfield (pictured), chief revenue officer at Phoebus, said.
“The way that property data is used and reused, it’s like we’re reinventing the wheel at every transaction. With some 100,000 property transactions every month, it’s a great opportunity for the market to evolve into something that is so much better for everyone involved.
“Whether you’re a buyer, seller, lender, conveyancer, intermediary or surveyor, we believe that trusted open data and technology standards are essential when making any kind of informed property decisions.”
Maria Harris, chair of the Open Property Data Association, meanwhile, welcomed Phoebus joining its “community of experts.”
“Having worked with Phoebus before, I recognise the value they can deliver to our ambitious digitisation plans,” Harris said. “The opportunities are limitless for Phoebus to collaborate with other OPDA members and to share their experience and forward thinking to shape the data and technology standards behind the future of property transactions.”
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