Valocity awarded Callaghan Innovation Growth Grant

Valocity awarded Callaghan Innovation Growth Grant

Kiwi-owned, and locally developed, cloud-based property valuation platform, Valocity, has been awarded an R&D Growth Grant by Callaghan Innovation.

The Callaghan Innovation growth grant will provide up to $5 million per year, with additional funding for a further two years available on review. It is designed to help organisations add scale to their R&D investment for greater market impact.

The first of its kind in New Zealand, Valocity has completely transformed the mortgage lending process by combining the best of data, analytics and technology to create an ecosystem for valuers, brokers, lenders, insurers and consumers that streamlines the entire mortgage process. The platform, which has been embraced by banks in New Zealand, delivers customer centricity in parallel with regulatory compliance.

Valocity’s technology is architected from the ground up on the next generation of Azure “Cloud” technologies. Machine learning, data factories, big data and data visualisations are part of Valocity’s toolbox enabling its data scientists and developers to quickly build market leading solutions.

Valocity Founder and CEO Carmen Vicelich says the company is honoured to receive the Callaghan Innovation grant which will support Valocity’s fast-paced, technology innovation growth plan.

“The exponential growth in data and technologies means Valocity has a huge opportunity to provide clients with game-changing insight and solutions. Callaghan Innovation’s R&D growth grant further accelerates our ability to combine Kiwi ingenuity with data and technology to deliver world-class solutions to businesses both in New Zealand and internationally.”

Mrs Vicelich says Callaghan Innovation plays a vital role in New Zealand’s growth.

“We commend the government's commitment to a hi-tech, hi-growth economy through its support of emerging businesses, like Valocity, as it allows us to scale and accelerate the development of world-class technology at pace."

Ends

Website: www.valocity.co.nz

How Valocity works

The Valocity platform allows users to access information on any address in New Zealand in real-time to make informed lending decisions which includes a computer-generated, automated valuation model of the value of the property to enable a relevant conversation. The platform also generates various customisable reports, streamlining information that previously had to be searched in multiple places, and allows a full market valuation inspection to be ordered electronically from a qualified valuer. These reports are then securely delivered back to the lender – all within one customised, seamless system. Valocity’s technology and solution are world-class and has passed the toughest due diligence measures set by NZ lenders.

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