Award-winning Australian proptech Downsizer has partnered with India’s Tata Consultancy Services to accelerate technical development of its unique SaaS platform and support global growth at scale.
The partnership is expected to see Downsizer leverage the TCS Co-Innovation NetworkTM (COINTM) to consolidate its position at the intersections of fintech, proptech and insurtech.
The existing Downsizer SaaS platform offers a real-time sales dashboard to property developers. It also enables automated risk calculations for cashless deposit bonds that homeowners can use to exchange contracts on a new property.
Downsizer managing director Mark Macduffie said research published by Downsizer Download last year predicted that 1.7 million Australian households could be downsizing over the next five years.
That translated into trillions of dollars of real estate being exchanged, with the first wave of downsizing also expected to release $300 billion in net equity.
“The downsizing boom is a global trend that is also taking off in the UK and USA,” Mr Macduffie said.
“Downsizers are motivated sellers and more often than not they are cash buyers, often choosing to buy new-build apartments off-the-plan, so they are not impacted by rising interest rates.
“TCS is an ideal partner for Downsizer as we help the traditional finance, property and insurance industries deliver innovative digital solutions for the growing downsizer demographic who want to make that important home transition.”
A part of the Tata group, India’s largest multinational business group, TCS is an IT services, consulting and business solutions organisation that has partnered with many of the world’s largest businesses for more than 50 years.
It has more than 556,000 consultants in 46 countries, generating consolidated revenues of $US22.2 billion in the fiscal year ended March 31, 2021.