Ezidox platform gains broader automation capacity by integrating with Titlexchange
16 JULY 2019 – Lakeba Group’s financial services business unit has acquired Titlexchange for one percent of equity in Ezidox, Lakeba’s document collection and validation service. Titlexchange’s valuation is $2,000,000 (AUD).
“This acquisition makes perfect sense in terms of what the mortgage sector needs. The industry is under stress – a clear front runner for automation, machine learning and artificial intelligence. Not to supplant people, but to free brokers and others from work made for computers to process,” says Giuseppe Porcelli, group chief executive officer of Lakeba.
Titlexchange connects property buyers and sellers to conveyancers. Directly, via a secure platform that runs on the internet.
The acquisition will incorporate Titlexchange’s technology with Ezidox. Complementing existing integrations and expanding Ezidox’ document collection automation to include conveyancing. Eliminating the need for documents to be exchanged between multiple parties, multiple times.
Brokers will benefit from the platform’s ability to collect and curate the volumes of documents involved in property related transactions. Ensuring that all parties have access to all the necessary data and information from both purchaser and vendor.
“Enter name, birthdate, address and shoe size, if you must, once; and it’ll appear correctly and uniformly across all documents required when buying, selling or transferring property. It’s so obvious that I’m surprised nobody’s built it before,” says Porcelli.
The integration will complete within the first quarter of this financial year. It will available to 16,000 brokers across Australia.
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About Lakeba Group
Lakeba Group is a privately held global venture catalyst firm. It accelerates technology ventures which eliminate the frictions caused by analogue transactions across retail, finance, property and technology. Engaging the intelligence of the masses, the global capacity and distribution of its partners and the proven skill and experience of its team to convert industry needs into commercially successful businesses. Since its launch in 2013, Lakeba Group has conceived, created and commercialised 13 ventures across its MachineIQ and FinanceIQ portfolios. It has 150 full-time staff across its headquarters in Australia and offices in India, Italy and soon the US.