PETALING JAYA (Aug 12): Infomina Geolytik Sdn Bhd has officially launched ValuationXchange — a digital property valuation platform that connects valuers, banks and real estate professionals to enable risk-informed lending decisions. The event was held at Tropicana Golf and Country Club, Petaling Jaya on Tuesday.
Infomina Geolytik is a joint venture between technology solutions provider Infomina Bhd (KL:INFOM) and Geolytik Tech Sdn Bhd. ValuationXchange is endorsed by PEPS Ventures Bhd, the commercial arm of PEPS Malaysia.
Infomina Geolytik executive director Joe Thor said that the platform will help bring efficiency and compliance to the valuation industry. “We are launching a platform that will not only streamline the indication of values as well as formal valuations between the bank and its panel valuers, but through automated workflows, we will bring efficiency and greater compliance with Malaysia’s valuation standards.”
Meanwhile, PEPS Malaysia president Subramaniam Arumugam highlighted in his opening speech that property prices have been pushed up unnaturally in recent years. “In recent years, we have seen trends of how some property prices have been pushed up unnaturally with discounts and rebates, hidden in ways that make the real price unclear.
"This confuses buyers, puts banks at risk and valuers find it extremely difficult [to approve valuation reports] that supposedly reflect the true market value. This is why the digital platform was set up to find practical solutions that protect the work of valuers, maintain high standards and make sure everyone in the industry plays by the same rules. In the past, the process was messy with too much paperwork and no clear system to check accountability,” he said.
Furthermore, the platform also allows property agents to prevalidate buyers' credentials before valuation and loan submission, which helps to reduce rejection rates, shorten the processing timelines and give homebuyers a transparent experience.
With that, Infomina Geolytik also announced its collaboration with real estate agency ESP Global. ESP Global CEO Aldrin Tan said, “This alliance gives our agents a bigger role in the financing journey. By helping pre-qualify buyers and submitting more complete applications, we are enabling a faster, more transparent loan process and delivering better experiences to our clients [property buyers].”
Thor added: “Not only are we providing banks with a platform that offers transparency, but we will also provide them with qualified leads directly from the source. As soon as an agent signs an offer to purchase or rent, ValuationXchange will automatically connect that lead to the banks. You will receive verified contact details, ready for indications of value from your panels.”