Mortgage Introducer has launched a new series of mortgage technologies where companies hoping to revolutionize the real estate market discuss their journey so far and their plans for the future.

In this installment, we spoke to Riccardo Iannucci-Dawson (photo) about Yourkeys which is the first platform to offer a fully integrated solution to speed up trade time while giving every stakeholder the ability to follow the buying process in real time .

Tell us about Yourkeys.

Yourkeys is a platform for the sale of new housing. It’s very simple, we are a platform that automates the onboarding of buyers and the dozens of tasks that go with it. AML, IDv, claim processing, fundraising source, payment processing and more. We also offer real-time sales progress tracking through integrations into all major law firm and brokerage case management systems. So, like I said, it’s pretty straightforward, to bring buyers into the buying process and then give everyone oversight of the upcoming transaction.

What was your main reason for creating Yourkeys?

My experience is in fact in architecture, then I went to the sale of new houses (strange side step I know!) Especially coming from an architecture particularly keen on technology! So the first version of the platform was actually a prototype to make my job easier. It then spun and Yourkeys was born!

In the story of the creation of Yourkeys, this suggests that you thought the process of buying a new home was “complicated, confusing, and lacking in transparency.” Why do you think it is?

Many people are involved and many people need access to a lot of information as it is not always digitized and a different set of information is required by different people which creates delays, errors and duplicates. As those people involved in each sale may be different each time, communication is not great and often buyers are left in the middle of this, left to coordinate a process they are unfamiliar with. It’s like someone is buying a car and then asked to coordinate the engineers to build the thing and with the engineers who don’t talk to each other. Most people don’t know where to start.

Do you believe that same day mortgages can be achieved with the use of PropTech?

Yes, absolutely, we’re working on it right now with some of the bigger lenders. If lenders know property information in advance and then receive buyer information, affordability, evidence, MLA and transaction information instantly when a deal is made, there is no There is no reason why this cannot be submitted through a lender’s decision engine to immediately refer an FMA.

If you could describe Yourkeys in three words, what would they be?

Different, sympathetic, motivated.

How important is the inclusion of open banking and automatic identity verification in the home buying process?

Incredibly important, anything that makes those key transactional steps faster and a better experience for buyers is essential. The real benefit is that these elements are automated and then used by all parts of the supply chain. We can achieve this by accepting an industry-wide standard and creating digital certificates that validate the results as reliable.

What are the main challenges you have encountered since the creation of Yourkeys? Did the people involved in the traditional home buying process welcome the business?

The main challenges we have faced are with users trying new things. With the industry a bit run down and the leap forward so big that it can sometimes be intimidating for users to jump into something new. The scale of the step forward can sometimes be a challenge. After all, we’re not stepping into a space and asking them to drop their spreadsheets and move on to online web forms. It can be intimidating for some people, no matter how effective it is.

What are your growth plans for the next 12 months?

We will expand to different types of transactions and unveil some incredibly exciting partnerships in the first part of 2021. Beyond that, our aim is to become the transactional layer of reference for all UK property sales.

What do you think is the future of the real estate market?

The future of the real estate market is what consumers want it to be. As new innovations spring to the consumer’s mind and people realize that a traditionally arduous task can be accomplished much more easily, sellers who don’t adapt will be left behind. So, as consumers become more and more familiar (and dependent) on technology, their patience for outdated analog processes is diminishing.

Those who adapt to this and embrace the new technologies will ultimately be the ones who prosper. As you know I am not the first to say this and ultimately every industry on earth has proven to be the case. Either way, it’s incredibly exciting and I’m very proud to be a part of this industry that has so much potential.


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