Swindon-based property search specialist TM Group has landed a prestigious software industry award for a recently-introduced new product.
TMSecure scooped the coveted title of Risk Management Software of the Year at the FStech Awards.
TMSecure has been created to address business challenges in the property market as it becomes increasingly more complex for lenders – whether from mortgage fraud, transactional risks such as a law firm’s credit rating, or the rising amount of industry regulation.
The product analyses, monitors and manages each transaction stage, providing early alerts to potential risks and preventing delays at key milestones in the process of buying and selling a property.
It also joins all the relevant parties together, from lenders to conveyancing panel firms and has a number of modules that can be selected and used by the lender depending on the type of transaction. Key features include real-time updates, the creation of risk profiles, on-going due diligence, and electronic document management and messaging between the participants.
TMSecure is being used by 50 conveyancing firms across the UK and is heavily supported by three key players in the property market – Connells Group, Countrywide Group and LSL Property Services. Commercial customers also include Aldermore Bank and Skipton Building Society.
The 2014 FStech Awards judges were impressed by its ability to identify and mitigate risk, while providing clear visibility between all the parties involved in the property chain.
FStech editor and head of the judges, Scott Thompson, said: “Congratulations to TM Group. It was an extremely impressive entry which demonstrated coherently and in-depth how the company is tackling the issue of financial crime and mortgage fraud – an increasing problem for lenders. In what was a tough category with several strong entries, the judges opted for TMSecure, which they agreed was a simple, comprehensive and innovative system.”
The awards were held at the Lancaster London Hotel.
TM Group was set up in 1999 as a response to the government’s National Land Information Service initiative.