NatWest to Utilize PEXA’s Digital Property Exchange Technology for Expedited Remortgage Transactions
PEXA, a leading digital property exchange platform, is advancing a strategic partnership with UK-based lender NatWest, aiming to revolutionize the property transaction process. This collaboration will initially focus on leveraging PEXA’s technology to facilitate 48-hour remortgage transactions for NatWest customers, subsequently extending to streamline sale and purchase transactions.
Miguel Sard, Managing Director of Homebuying and Ownership at NatWest, expressed optimism about the partnership, citing the successful testing of PEXA’s payment scheme with the Bank of England. Sard emphasized the transformative potential of this technology in simplifying and expediting processes for NatWest customers.
“At the heart of our strategy for growth is anticipating and meeting our customers’ needs, using data and technology to ensure we are simple to deal with.”
Miguel Sard, Managing Director of Homebuying and Ownership at NatWest
In response, Joe Pepper, UK Chief Executive Officer of PEXA, highlighted the mutual goal of driving digital innovation and enhancing the customer experience in property transactions. Pepper emphasized the challenges faced by the UK property market, including high transaction fail rates and prolonged completion times. He expressed enthusiasm about collaborating with NatWest to address these issues.
“We welcome the opportunity to work with NatWest Group and partner with a lender committed to solving these issues with us.”
Joe Pepper, UK Chief Executive Officer of PEXA
The partnership between PEXA and NatWest signifies a significant step towards modernizing property transactions in the UK market, with a focus on efficiency, transparency, and customer satisfaction. Through the implementation of PEXA’s technology, NatWest aims to streamline processes and deliver enhanced value to its customers and the broader property ecosystem in the UK.
