Macquarie signs fintech joint venture

A prominent bank has deepened its involvement in the housing market by joining forces with a leading property data company.

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

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.”

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

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.”

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