Founded in 2008, Lexsure, formerly Conveycentric, has developed a family of products to assist lawyers in risk management, including CLIENTCAREmonitor, COMPLETIONmonitor and LENDERmonitor. Using smart technology, Lexsure offers lawyers visibility into their firm’s risk management, AML and OFR compliance performance. Lexsure products – completely automated, comprehensive, and low- cost – ensure busy lawyers meet regulatory obligations and mitigate conveyancing risks with ease and stay abreast of developments in both arenas.
Approximately 1,000 law firms in England and Wales rely on Lexsure Software to make risk and compliance management more effective and efficient.
COMPLETIONmonitor is an intelligent, interactive online expert system used by conveyancers. Launched in July 2011 at the Law Society, it raises relevant and dynamically evolving questions on residential transactions that change based on the criteria of each property transaction, incorporating lender requirements on sales, purchase and re-mortgages. COMPLETIONmonitor creates a workflow that allows conveyancers to ensure that they have addressed the key areas of risk within their case load. There is no equivalent system in the marketplace.
COMPLETIONmonitor automatically generates reports to assist firms with both internal Management Information (MI) and external compliance regulations. The system is able to collate data from third-party data feeds such as the land registry and local authority searches and validate the results by cross checking against lawyer or conveyancer input.
Lenders regularly make changes to their policies, and before the launch of LENDERmonitor there was no easy way for lawyers to determine when lenders changed their policies or what those changes pertained to. With LENDERmonitor, launched in 2010, lawyers have an online tool that continually monitors for any changes to lender policies and sends an alert in real time when these changes are detected.
LENDERmonitor has gained the endorsement of regulators and insurers, including the support of the Council of Mortgage Lenders (CML). LENDERmonitor regularly communicates with over 2,300 lawyers.