PEXA, an online property settlement platform based in Australia, has announced its plans to expand into the UK market by partnering with law firms and origination software companies.
The company aims to digitise the remortgaging and property buying and selling process in the UK, replicating its model that has seen high market penetration in Australia.
PEXA will work with Iress, nCino, Sopra Banking Software, and Ohpen to deepen its technology proposition and make its platform compatible with UK lenders and brokers. It has also enlisted three law firms and plans to onboard more throughout 2023.
PEXA Pay, a property transaction service, was launched in partnership with ThoughtWorks, with the Bank of England acting as the settlement service provider.