Supporting digitisation in conveyancing
As the world changes, new challenges emerge. Given our role as the regulator of specialist conveyancing and probate professionals, the CLC’s natural priority is to provide consumers with the highest level of protection. When change is ongoing, it’s essential that we as regulators are taking a proactive approach – this means keeping up to speed with new developments within the market, as well as new technology. Whilst this approach can prevent risk materialising at all, it also enables us to support those who might be affected.
With a strong track record supporting innovation in the legal sector, our aim is to facilitate and promote the ideas of those who want to change the client experience for the better. We firmly believe that technology should be harnessed to improve client expectation, whilst regulated appropriately to ensure that consumer needs remain the priority. Our round table with Legal Futures aimed to explore the best way of managing these factors, shining a light onto the evolving delivery of legal services.
During the discussions, it quickly became apparent that technology could pose opportunities and challenges for conveyancers; the main conclusion being that we as the regulator need to be proactive on both counts. Whilst the introduction of technology into the market is bound to change things as they are, the disruption can be taken advantage of. Appropriate regulation can support evolution or even radical change in service provision while maintaining high standards of consumer protection.
Although we firmly believe that exploitation of technology in the market is positive, we also know there is a very real risk of its growth being problematic. New processes need to maintain the safeguards that underpin confidence in the UK property market that is such a fundamental part of the economy. With data becoming ever more central to enhancing processes, we will also need to ensure that unhealthy data monopolies do not emerge.
Keeping a continual dialogue is essential if we are to maximise the benefits of new technology and new approaches, with a focus on light-touch intervention to ensure that firms are not deterred from innovation. The development of new solutions plays a key role in the ongoing improvement of the legal sector, as well how it adapts to the evolving world – it’s important that regulation acts as a gateway instead of a barrier.
This article was submitted to be published by Council for Licensed Conveyancers as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.