SOLUTIONS

World class data and technology solutions, delivering innovation across the entire property ecosystem

Our Solutions

Valuation Ordering Platform

Here’s how Valocity can benefit your business

The Valocity Platform – a first of its kind state-of-the-art platform that digitises and standardises the end-to-end mortgage valuation ecosystem. The platform empowers you with robust valuation workflows and rich and accurate data drawn from a range of sources.
Experience a world of benefits with Valocity One Smart Platform.

Property identification and validation

Geospatial validation and data capture coupled with unique market analytics and dynamic valuation movements administered through bank secure Web and APP platforms

Address search

A smart functionality powered by Artificial Intelligence and Machine Learning that continually optimizes and enriches nationwide address data in disparate formats and proprietary identification algorithms to present rich quantified quality data

Projects database (APF and Non-APF projects)

Valocity aggregates multiple disparate datasets including ‘Project’ attributes in over 200 cities creating a unique property data hub available both for look-up as well as updating and maintaining additional data fields

Customisable Order Form

Valocity provides a customisable order form to provide bank users with an efficient and positive experience when ordering valuations

Document storage and sharing facility

The Valocity platform provides a seamless, intuitive and secure function that ensures all relevant documents are stored with the valuation order and shared securely with the Valuer

Job allocation and instant digital communication with Valuers

The platform is designed to enable Lenders to easily allocate jobs to Valuers. It also facilitates lenders by enabling real time chats with Valuers in an intuitive chat format

Electronic data capture and flexible report templates

All valuation reports are completed electronically and realtime using the Valocity Connect platform for valuers and provided back to the bank as digital files. The system also allows creation of customised report templates to standardise data and ensure critical data points are captured by the valuer

Dashboard tracking

A user can track the progress of their order in an intuitive, live dashboard environment. Access can be customised as per user role.

Quality control and benchmarking Executive Summary Report (ExecVal)

Every full valuation report completed through the Valocity platform is subject to an automatic benchmarking audit process spread across a host of parameters to ensure data accuracy

Digitising Bank Credit Policy – ‘iDecision’

iDecision is Valocity’s industry leading bespoke decision engine which allows the bank to digitise its credit policy and operationalize it enabling customised lending criteria. Valuation decisions are automated and improved through customised rules reducing wastage for valuations of properties which the bank is likely to decline. This methodology has been designed to ensure best use of resources to avoid additional cost and unnecessary use of reports

How will the Valocity platform help bank users

Valocity has revolutionised the mortgage and valuation process for Banks and Housing Finance Companies with the usage of technology, data and analytics. The Valocity platform leverages the best of global experience is completely customisable to suit, including branding, connecting, reporting and rules.

Efficient on-boarding

Efficient and customisable large-scale onboarding of the users of a bank or lenders to cater to any structure

Automated on-boarding process

Automated and seamless on-boarding process, through a link that empowers users to create their own details

Role-specific access

Banks can provide partial or full access to users based on their roles

How will the Valocity platform help bank empaneled Valuers

Valocity enables you to digitally manage your unique valuation panel all in a bank secure custom-built platform. Valocity helps you to digitally manage existing Valuer relationships with established contracts, pricing, and turnaround times coupled with seamless on-boarding.

The Valuer on-boarding process can be completed in just 3 simple steps:

Bank provides unique panel list for streamlined bulk onboarding onto the Valocity platform

Valuer is provided login access to the Valocity platform designed specifically for India valuer workflow, and can then upload their credentials, registration certificates (IBBI, Wealth Tax etc.), empanelment and reference letters

Valuers can define the areas they cover as per the standard fee agreed (e.g., 40 km across XXX city or YYY localities)

Digital Valuation Tools

Here’s how Valocity can benefit your Valuation business

Valocity is not a lender, a Valuer, an aggregator or a broker. We enable the property valuation and lending ecosystem to communicate digitally, enhancing efficiency.

Think of Valocity as a digital highway for the efficient transportation of valuation orders and their delivery.

We work in partnership to benefit both the valuation and the banking communities.

Valocity offers you a connected platform – instantly connecting valuers with banks – for efficient and secure exchange of orders and underlying data. Valocity has been especially designed for Valuers to enable them to reduce turnaround time, enhance efficiency and capture accurate data.

Valocity has custom built a set of smart tools (web application and mobile apps) called “Connect” for Valuers in India – for end-to-end order fulfilment. These tools have been developed after extensive research of the pain points faced by Indian valuers across many cities. This is available to valuers (free of cost) to execute orders received from Valocity bank clients as well as other banks sending orders to valuers today.

Valuers can conduct end-to-end order fulfillment in just 5 easy steps:

Step 1: Lenders can send an order with address details straight to the Valuer via the Valocity Platform which can be accessed by him through web or mobile. Additionally, Valuer can create a job on the web app with details received from lender over email.

Step 2: The Valuer assigns the job to the Site Engineer, which then gets visible to him on his mobile app. The Valuer can track the progress of a job getting completed by his employees in an intuitive, live dashboard environment available on the web application where access of each user can be customised as per user role.

Step 3: The Site Engineer geotags the property through the mobile app, validating the address and undertaking the valuation. The validation at property ensures the lender knows the Site Engineer visited the property. The mobile app allows the user to fill in details related to the property while on-site and capture photos with date, time and GPS Location Stamping. It also provides offline data connectivity through which the Site Engineer can collect data in remote locations even without an internet connection. Lender and valuer queries are resolved real-time via the comment functionality under each order and jobs associated with that order.

Step 4: The Valuer adds the property valuation data in a digitised form to create a draft report. Report generation is automated by a click of a button. Reports can be generated in MS Word in the desired report templates automatically. The Valuer can also generate reports for jobs that are self-created.

Step 5: The bank receives a digitally signed PDF report from the Valuer

Why should Valuers opt for Valocity Connect platform

Valuers using the Valocity Connect platform enjoy many benefits that enables them to be more efficient. The amazing benefits that the platform offers are:

Opportunity for Valuers to publicise credentials and credibility to all banks in a transparent manner
Opportunity to define the services offered, and coverage areas that the Valuer operates in
Fair and transparent job allocation removing any possibility of biased decisions
Provides digital connectivity with banks via instant transfer of orders, property files/attachments and messaging with bank staff as opposed to emails and calls
Increased productivity with web and mobile app. This free of cost toolset ensures Valuers access data capture forms (as set by Valocity client banks) or create their own data collection forms. Valuers do not have to use multiple software packages or spend time populating reports in various formats as the system does it for them
Valocity empowers Valuers with its proprietary data structures – from individual property to project and locality level so that they can capture the rates in a consistent and searchable manner – thereby building their own database of property valuations
Valuers can download historic valuations via the application for ease of invoicing to lender

Frequently Asked Questions for Valuers

What is Valocity?

Valocity is India’s first industry solution that connects the entire ecosystem of lenders and valuers to transform mortgage lending through standardized quality valuations and property analytics. The platform is used by leading lenders in Australasia with over a Trillion dollars in loan decisions processed via the platform.

In 2019, Valocity was awarded the ‘Fintech Start-up of the Year’ award, at the prestigious Fintech Awards (IFTA) 2019 held in Mumbai.

Where is Valocity based?

The India office is registered at International Trade Tower, New Delhi and we have a local team of ten. Valocity Global is headquartered in New Zealand and has a presence primarily in the Australasia region in addition to India and Singapore. It was founded by Carmen Vicelich.

What is the status of your platform under banking and valuation regulations?

Valocity is not a valuation company, we provide technology to the banks and lenders. We work very closely with the banks and lenders to ensure that we enable them to be compliant with all banking and valuation regulations. 

How many Valuers use Valocity currently?

We went live with our first bank, Kotak Mahindra in January 2021. As of August 2021, we connected over 150 cities and have over 800 Valuer users on our platform.

Why should Valuers use your software?

Nearly 80-85% of the Valuers operating in mortgage valuations today do not have their own technology and are more than happy to have tools that make their lives easier.

Some of the recent tools being launched in market today require Valuers to pay for each report or field changes in addition to software customisation and huge infrastructure costs. Valocity is investing heavily to absorb all these costs and makes the tools available for free – so Valuers can focus on what they are experts in, leaving the technology hassles to us.

Why are you giving Valocity Connect for free?

We work with banks to help them send and receive valuations and collect data in a standard and secure environment. To enable this, we want to empower Valuers to be able to deliver data digitally – not just after they have collected the info/prepared the report. Valuers can use our software to collect data digitally and then prepare the report, saving considerable time.

What data is available to valuers?

Valocity extends to Valuers its proprietary data structures – from individual property to project and locality level so that they can capture the rates in a consistent and searchable manner – thereby building their own database of property valuations.

Will Valocity use my reports and data?

Valocity will only use it for providing quality control, benchmarking, and qualitative and quantitative analytics to lenders for creating and arriving at aggregate data. However, the use of the same is subject to privacy laws and identities of individuals/organisations shall not form a part of the aggregate data used by Valocity. Under no circumstances will Valocity use data that can be identified to a particular valuer of a particular lender. Any use of valuation report data is only to arrive at an aggregate market value index.

How do you ensure safety and security of Valuer Data/reports?

Valocity is a proven technology. It is built on Microsoft technologies, which are proven to be most secure. Valocity spends a lot of money for the security of its infrastructure. This ensures a secure environment for exchange of reports/data between lenders and valuers. We extend this facility to valuers at no extra cost to enable it for our bank clients.

What is the risk of fraud? 

The risk of fraud is minimal. Valocity uses bank level security and is built on Microsoft technologies, which are proven to be most secure. This ensures a secure environment for exchange of reports/data between lenders and valuers. 

Who pays my fee?

The valuers fee, as usual, will be payable by the Lender to the respective Valuer for Valuation Services including for Valuation Reports, plus any Urgency Fee as may be agreed between the Lender and Valuer.

We already have contracts with banks with an agreed fee. How would that change? Will we get paid more?

That will not change. Banks will continue to pay the same fee to Valuers directly. Valocity charges a service fee from banks separately for the platform.

Do you rate Valuers?

No, the Valocity technology platform does not rate Valuers, we are a digital connector for information to flow quickly between banks and lenders. 

Will you offer AVMs?

AVMs are to be validated by registered valuers and how you are intending to reverse the Valocity is not planning to rate Valuers through an AVM model, nor are we planning to introduce an AVM.

How are valuation orders allocated?

It’s up to the bank. Valocity encourages random allocation – but that is expected to be a gradual transition. Initially it is expected to be manual allocation by bank staff. Some Banks/HFC’s may in the future choose random order allocation based on bank rules – % allocation to various empaneled firms and Valuers based on the type of property and bank’s approved panel and valuer coverage areas. This ensures fair allocation removing any collusion between bank or valuers.

Will Valocity platform be used by the banks to order valuations for all property types?

Valocity will be used for valuations for all retail / mortgage loans – home loans, loan against property etc.

How much work will my firm get if I am included on a Bank Panel?

The volume of work received will largely depend on the

volume of loan applications received by the bank and
the number of valuers in your coverage areas on the bank panel
the contract you hold with the bank

To what level does Valocity control allocation of work?

Valocity has no influence in the management/allocation of orders. The banks will directly agree allocation volumes based on capacity, coverage, and performance with their panel of valuers.

What is the term of onboarding at Valocity?

The Valuer will be onboarded for an indefinite period of time unless the association is terminated by either side by giving a months notice.

Will Valocity provide training to me and my staff?

Yes, we want to help you succeed. In time we will provide training videos, user guides, regular webinars.

Will the ‘Connect’ have report templates for all the banks?

We will have for Valocity client banks; for others Valocity can help you to set up templates for your banks.

Can my Valuation Report be changed in any way?

As valuation reports are being scanned currently there is no way that a report can be changed or altered. If you receive additional information and you wish to re-issue your valuation you will be able to do this. The system ensures that the latest version is being used and tracks the life of the document.