The Intermediary – December 2025 - Flipbook - Page 65
T E C H N O L O GY
Opinion
Meaningful change
in the property
market
W
hen I took
on the task
four years ago
of bringing
the property
market
into the 21st Century by digitising
upfront property information, it
was immediately apparent that the
challenge wasn’t a lack of technology
or creativity, but a fundamental gap in
infrastructure and collaboration.
There’s always positive innovation
happening throughout the UK
property sector – from digital portals
and app-based mortgage tools to
automated ID checks and case tracking
systems. But much of this happens in
isolation due to the highly fragmented
nature of our industry.
That’s why, despite some brilliant
progress, the homebuying and selling
process in the UK is still so inefficient
and frustrating for everyone,
especially consumers. What’s needed
is stronger collaboration across the
industry to create a truly connected
digital infrastructure underpinned
by common data formats and
trust standards.
That’s why I’m excited to be a
part of the Centre for Finance,
Innovation and Technology’s (CFIT)
latest coalition group, a crosssector collaboration dedicated to
applying smart data principles in the
property market.
On a mission
CFIT’s mission is to accelerate UK
fintech and financial innovation
and to unlock barriers to growth for
consumers and businesses; it’s a key
part of the Government’s Industrial
Strategy. Previous coalitions have
focused on Open Finance and digital
verification and delivered gamechanging solutions.
MARIA HARRIS
is chair of the Open Property
Data Association
Coalition 4, as it’s called, aligns
with the Open Property Data
Association’s (OPDA) mission to
change the way people buy and
sell houses by implementing open
standards and solving some of the
biggest adoption challenges to data
sharing across the mortgage and wider
property industry.
It brings together the most
influential stakeholders in financial
services for a time-limited,
strategically focused period to catalyse
the development and implementation
of an Open Property ecosystem.
Alongside lessons from the Open
Finance and digital verification
coalitions, a key input is the OPDA’s
Property Data Trust Framework,
a set of data standards that make it
easier for organisations and users to
There’s always
positive innovation
happening [...] but
much of this happens in
isolation due to the highly
fragmented nature of
our industry”
complete property transactions or
share information with other trust
framework participants.
At its first meeting, we shared with
more than 60 aendees the progress
we’ve made so far, including our work
on Smart Property Data, creating
and implementing data standards,
the impact of Digital Property Packs
on transactions, and outlining the
urgent need for cross-sector data and
policy integration to improve the
homebuying and selling process.
Phase one will focus on identifying
where Smart Property Data intersects
with Open Finance and Digital
Identity and where we need strategic
alignment to enable practical
implementation.
What makes the coalition so
important is that it is focused on
unifying stakeholders and delivering
tangible outcomes by developing
prototypes, proofs of concept, and
policy recommendations. It means
that we are finally starting to walk the
walk and not just talk the talk on our
ambition to digitise and streamline
the entire end-to-end homebuying
experience, and all the processes that
sit within it.
With the recent announcement that
we have secured almost £750,000 in
Government funding to deliver the
technical governance trust framework
we need across the whole property
ecosystem, we’re really making
this happen!
We are on the cusp of the biggest
transformation the homebuying
process has ever seen, with a shared
vision to revolutionise transactions,
reduce fall-throughs and deliver a
beer experience for consumers.
The future of homebuying is here,
and it’s smart, with digitisation based
on the OPDA data standards and
interoperability of trust frameworks.
The work of CFIT Coalition 4 will be
vital in achieving the unity we need. ●
December 2025 | The Intermediary
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