On a quarterly or on a monthly basis, financial institutes need to conduct re-assessment of the collateral assets of their customers’ properties. This is necessary not only for internal/external audit reports but also extremely crucial for the banks’ risk management. However, these procedures require a lot of manual work, high operating costs and are so time-consuming.
Therefore, we looked for a solution which could help banks making their job way more easier. We launched a new service that specifically supports banks for managing collateral portfolios, provides assistance for property automatic reassessments and risks handling process, namely Unit Valuation View. This service shows the exact latest estimated property value at a GLANCE.
You can provide characteristics of the property which you wish to assess either through API or our unit valuation view, and get values instantly. With our service behind your back, you can get real-time, accurate information about assets. With just a click of a button.
However, that’s not all. The biggest advantage of our service is that financial institutes can now produce on-demand reports and from those, sort out the list of properties that meet their own risk tolerance.
The thing that makes our service stand out from the crowd is that we can tell you the exact property value applied on a property level and not extrapolated on a generic or neighbourhood area. As a matter of fact, we don’t rely simply on transaction data but we also take into account other technical concerning individual properties, demographic and socio-economic parameters, such as the quality of the neighbourhood and distances to amenities & public transport. In this way, we can determine the property values also in areas with little or no transaction data available with great accuracy.
To sum up, banks now have a tool which allows them to monitor the value of any property and make on-demand reports whenever needed. Re-assessment property values and making reports have never been easier. Our new service completes the package which we had provided before. It helps you to reduce significantly mortgage underwriting and operational costs.
Now that the release is out – it’s time for financial institutes to test it! If you need any assistance, don’t hesitate to contact our pro in tech, Hannu, at firstname.lastname@example.org or just drop us a message below. And if you like our new feature, don’t forget to repost this blog post on your channels and spread the word!