Daffodil Software
Trusted partner for custom software development
Trusted partner for custom software development
The client is a London-based fintech company specializing in digitizing property valuation. Their flagship application offers a comprehensive financial analysis of residential properties in the UK to meet capital markets standards. Dedicated to leveraging technology for efficiency, they aim to simplify property valuation for lenders, financial institutions, and estate agents.
Business Situation
In real estate transactions, accurately determining property values is essential for informed financial decisions. Traditionally, this has involved labor-intensive methods, including extensive paperwork, physical inspections, and manual data entry, leading to delays, errors, and scalability issues.
Our client, a prominent player in the UK real estate market, recognized these challenges and aimed to modernize property valuation through automation. They sought to leverage their capital market expertise and multiple data sources to streamline the valuation process and enhance accuracy.
However, implementing this vision presented challenges. While the client had the necessary data and expertise, they lacked the technical infrastructure for automation. Consequently, they sought a technology partner experienced in custom digital platform development for real estate and fintech.
After evaluating several vendors, Daffodil Software was selected for its proven track record, flexible approach, and expertise in business process automation, data analytics, and digital transformation.
The key requirements were to:
To address the client's property valuation challenges, Daffodil Software began by analyzing their requirements and engaging with stakeholders to identify inefficiencies in manual processes. Our product designers created user stories, feature lists, and prototypes, leading to the development of an AI-based property valuation system using Keras, TensorFlow, and Python.
The automated system included:
1. Data Integration and Preprocessing: We consolidated and preprocessed data from over 10 sources, including property listings and market trends, resulting in a dataset of around 70 million instances. Quality was ensured through imputation techniques for over 7 million missing values and outlier detection for 3 million data points.
2. AI Model Development: Using the enriched dataset, we explored various machine learning algorithms, conducting over 100 experiments to create a precise valuation model, validated against real-world scenarios based on location and transaction history.
The resulting system was integrated into the client's infrastructure, utilizing cloud technologies for scalability. Key features included an Automatic Valuation Model (AVM) for performance assessment, Property Intelligence for risk analysis, and a Neighborhood feature for property comparisons. Ongoing maintenance and support were provided to help the client adapt to evolving market trends.
The AI-driven property valuation system developed by Daffodil Software achieved remarkable accuracy rates of 93%. This high level of accuracy, coupled with automation, significantly reduced turnaround time, enhanced precision, and streamlined operations for the client. With its intuitive interface, scalability, and robust security measures, the system empowered them to make informed financial decisions confidently, staying ahead in the dynamic real estate market. Recognizing our efforts and expertise, the fintech company entrusted us with additional projects, affirming our reputation as a trusted partner in delivering optimal AI solutions.
