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
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
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 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
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
- 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?
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?
What is the status of your platform under banking and valuation regulations?
How many Valuers use Valocity currently?
Why should Valuers use your software?
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?
What data is available to valuers?
Will Valocity use my reports and data?
How do you ensure safety and security of Valuer Data/reports?
What is the risk of fraud?
Who pays my fee?
We already have contracts with banks with an agreed fee. How would that change? Will we get paid more?
Do you rate Valuers?
Will you offer AVMs?
How are valuation orders allocated?
Will Valocity platform be used by the banks to order valuations for all property types?
How much work will my firm get if I am included on a Bank Panel?
- 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