United Trust Bank (UTB) has achieved accreditation from the Open Property Data Association (OPDA) in recognition of its commitment to improving the speed, cost and efficiency of the UK property transaction process.

The accreditation demonstrates that UTB meets the OPDA’s core principles of being "collaborative, supportive, ethical, privacy and security driven, transparent and active".

It also recognises the bank’s data, APIs and digital infrastructure, which enables it to connect with organisations across the property chain.

The association is focused on modernising the property market by enabling secure, standardised data sharing between lenders, brokers, solicitors and valuers.

Its aim is to reduce duplication, cut costs and speed up transactions by allowing information to be shared across the chain.

UTB’s accreditation means that it can play a role in this network, helping to remove friction in the transaction process.

Managing director – mortgages, buy-to-let and bridging at UTB, Buster Tolfree, stated: "I am delighted that UTB has achieved OPDA accreditation following a lot of hard work by our operations team and many other people across the Bank. It shows we’re building our systems in a way that one day will improve how the market may operate more quickly and efficiently for everyone, not just for UTB.

"There’s a real opportunity to improve how the property process works in the UK. By being part of the OPDA network and trust framework, we’re helping to create a more connected, efficient and secure environment that ultimately benefits customers. This is just the start — we’re looking forward to working with others in the network to help drive meaningful change across the industry."

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