Risk management firm SAI Global is eyeing opportunities in the property and financial services space after signing a deal with NAB Broker.
This week the ASX-listed company released its full year profit results and credits part of the strong performance of its property services division to the success of its digital property settlement tool, Settlement Room.
The group’s property business increased its revenue by 1.5 per cent over the 12 months to 30 June 2015, posting $169.7 million for the period, while its EBITDA (earnings before interest, taxes, depreciation and amortisation) grew by 18.7 per cent to $28.7 million.
Benjamin Balk, SAI Global’s general manager of product and marketing for its property division, said Settlement Room has played a significant role in the overall performance of the group’s mortgage services as well as NAB Broker’s recent decision to partner with them.
Settlement Room is SAI Global’s virtual property settlement platform that was brought to the market late last year to improve industry efficiency and reduce settlement rates. It has already facilitated more than $15 billion in transactions.
Mr Balk said that while SAI Global had been largely focused around property settlements, the NAB Broker deal will help the group deliver more than just the core range of services to financial institutions.
“We’re expanding our set of BPO [business process outsourcing] services as part of the NAB Broker deal, and we see further opportunities both in property and financial services where our capability and operational excellence can be applied to other adjacent areas, which we’ll look to apply in FY16,” he told Mortgage Business.