Sesame Bankhall Group and Aviva Ventures have launched a new technology start-up firm together called Acre Software.
Acre Software is a mortgage protection and general insurance platform that uses blockchain technology to bring together all the components of the mortgage advice process, and the volume of transactions is provided by Sesame Bankhall Group.
Arce was developed through Founders Factory, an organisation that offers support for start-up companies, as well as assisting with product development, market insight and capital.
Sesame Bankhall Group executive chairman John Cowan comments: “After undertaking a comprehensive 12-month review of the market, we concluded that we could no longer ignore the new competitive threats circling around our profession.
“Working with Aviva Ventures, we saw an opportunity to turn the threat posed by new disruptive technology on its head.”
Aviva Ventures managing director Ben Luckett says: “Acre have identified a market which could be improved through technology.”
Acre Software chief executive and founder Justus Brown adds: “Buying a house is one of the biggest financial transactions a person can make, yet the process is slow, opaque and fragmented. We are changing this by levelling the playing field for brokers using technology.”