Company integrates web-based mortgage processing into its product
offering
VANCOUVER, Sept. 17 /CNW/ - OneMove Technologies Inc. ("OneMove" or the "Company") (TSX-V: OM) announced that it has launched econveyance 7.0, an upgraded version of its web-based conveyancing software system, in British Columbia. econveyance provides the electronic production and exchange of property transfer data between the parties involved in the property transfer process. With the launch of econveyance 7.0, OneMove has added several functional elements, most significantly web-based mortgage processing, to its core suite of econveyance applications.
"With the introduction of econveyance 7.0, OneMove is the only company globally that enables the electronic transfer of information from the point of completing the Contract of Purchase and Sale, through to mortgage processing and land title registry filing for both the residential and commercial real estate industries," said Martin Johnson, President and CEO, OneMove. "We view this as an important competitive differentiator. We expect the added functionality available with econveyance 7.0 to propel future growth in our number of monthly transactions, which has been steadily increasing, reaching more than 5,000 for the month of August."
With econveyance 7.0, lawyers and notaries can receive mortgage instructions electronically from certain lenders and can complete and submit all mortgage forms via the internet, in addition to conducting land title searches online, electronically producing land title forms, and directly accessing British Columbia's Land Title Office's electronic filing system. OneMove generates, on average, gross revenue of C$26.00 per transaction processed through econveyance.
Johnson added: "We are committed to facilitating efficient communication between all parties involved in the process of buying and selling real estate, so adding a complete, web-based mortgage transaction processing platform to our services in B.C. was a logical next step. That said, even though our focus to date for the development of econveyance has been the B.C. market, we are now exploring integration relationships with other providers, as we are increasingly seeing a shift toward the paperless property transfer process domestically and internationally."
About OneMove Technologies Inc.
OneMove Technologies Inc. (TSX-V: OM) is a real estate transaction platform, currently serving the British Columbia, England and Wales real estate markets. By combining personal service, unique products and leading edge technology, OneMove(TM) simplifies and expedites the process of buying and selling real estate. The Company's product and service offerings include: econveyanceTM in British Columbia, and a Move Management System, Personal Moving Consultants, Home Buyer Expense Insurance, and the largest free online real estate listing database in England and Wales. Additional information about OneMove can be found at www.onemovetech.com or www.sedar.com.
Forward Looking Statement
This press release contains certain "forward looking statements." These statements relate to future events or future performance and reflect expectations and belief regarding growth, results of operations, performance, business prospects, opportunities or industry performance and trends. These forward looking statements reflect current internal projections, expectations or beliefs and are based on information currently available. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. Although it is believed that the forward looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements. These forward looking statements are made as of the date of this press release, and OneMove Technologies Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
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