CoreLogic RP Data and Macquarie sign fintech joint venture

A leading property data company has joined forces with a prominent bank to make it easier for agents to manage their property and finance data.

CoreLogic RP Data and Macquarie Business Banking have launched PropertyIQ, a software joint venture that is designed to make agencies more efficient by integrating workflow with data, analytics and banking.

PropertyIQ will initially deliver three software options – Connect for agents, Portfolio for property managers and Strata for strata managers.

Connect will give agents the chance to list and sell on the spot by allowing them to draw on CoreLogic RP Data’s national property database and view real-time market information.

PropertyIQ Portfolio is a property management and trust accounting system that aims to help agencies keep track of activities in their rental portfolio and automate routine activities so they can be more responsive to the needs of landlords and tenants.

Chief executive Dawie Verryne said agencies are often challenged by the need to use multiple systems to manage their businesses and the needs of customers.

“PropertyIQ brings together all of the systems they require into one package, integrating banking and data, and filling the gap between the industry’s software, banking and data needs,” he said.

“This is the first time in Australia that two leading corporate organisations with such deep knowledge and expertise in real estate and strata services have come together to provide technology specifically designed to respond to market needs.”

CoreLogic chief executive Graham Mirabito said the joint venture will allow agencies to make better real-time decisions to grow their businesses.

“In Australia, we have over 60,000 real estate industry end users logging into our system 30,000 times each day,” he said.

“By deeply integrating our services with PropertyIQ we are able to deliver an end-to-end view of real estate sales and rental portfolios with actionable insights for growth opportunities.”

Macquarie head of business banking Dean Firth said PropertyIQ will generate efficiencies for agencies, leading to reduced costs and greater profits.

[Related: Fintech partnership turns property into shares]

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