SAI Global's Property Division has achieved a strong performance in 2015 across both the Business Process Outsourcing (BPO) business (formerly referred to as Mortgage Services) and the Information Broking and Data Business. Highly efficient property settlement processes, coupled with new mortgage processing contracts and the rapid uptake of SAI Global Property Division's first value-add search product, are the key contributors to the year-on-year growth and strong performance in 2015.
The BPO business has grown by more than 34% per annum* over the last four years to become one of SAI Global's strongest performing businesses and is involved in more than half of all property settlements nationally.
Together with the Property Division's market leading position, these achievements have led to a decision to expand its service offering in 2016 beyond the settlement services arena and into other areas of banking and finance.
This expansion will begin with one of SAI Global Property Division's major banking clients and will see SAI Global doing more of the end to end banking process, including core banking functions such as loan verifications, loan draw downs and account openings.
Ann Wootton, SAI Global Property Division's Executive General Manager, said
"Expanding the range of services which we perform for our banking clients will underpin the next phase of growth for the Property Division and will ensure that we and our clients remain at the forefront of developments in bank processing."
“As the market leader in mortgage services and with SAI Global's national presence, we expect to support earnings growth through expansion of our business processing services and a continuing focus on providing the market with digital tools to work alongside, and eventually replace, existing manual processes.”
“The SAI Global business is extremely robust and has been further buoyed in 2015 with new major client wins. In addition, our group's strong focus on quality and outcomes, plus greater collaboration in the industry, including close liaison with our banking, legal and conveyancing clients, has enabled us to achieve continued process improvement and to support a major reduction in settlement failure rates across the industry.”
"Our settlement failure rate was a record low of 1 in 8,594 settlements (0.012%) from July to November 2015, setting a new benchmark for the industry and we are forecast to settle more than 320,000 transactions by the end of December 2015, a record volume for SAI Global. This attention to process exactitude, together with the introduction by SAI Global of new digital tools such as Settlement Room, has helped the industry achieve greater levels of digital collaboration and to drive efficiencies, Ms Wootton said.
*CAGR - Compound Annual Growth Rate based on revenue