AI Chatbot and Rena shorten the cash transfer cycle, decrease paperwork and decrease human errors for real estate agencies
Real estate agents can now manage deals, listings and payments digitally in one place, improving productivity by more than 50%
VIP Realtors has been awarded an Enterprise Development Grant (EDG) to accredit Rena on its digital transformation journey
SingaporeAnd 27 July 2021 /PRNewswire/- SingaporeAI-based startup Band Today it unveiled Rena, an AI-powered chatbot to aid decrease paperwork and improve productivity in real estate transactions.
“Real estate is a highly organized industry and requires a lot of paperwork. Agents often have to juggle serving their clients and submitting abundant forms, letters, checklists and agreements to conclude the transaction. On the other hand, agencies often have to hire staff to perform manual data entry following collecting All documents submitted by agents,” explained Islin Lee, Business Manager at Band. “With Rena, information can now be exchanged digitally and in real time, reducing paperwork and human error.”
Powered by Pand.ai’In the natively developed Natural Language Processing (NLP) engine, agents can now instruct Rena to perform positive tasks by sending it a text message. Some of the tasks Rena can currently perform include: creating deals and listings, performing searches on agent profiles and property details, and retrieving inner resources such as forms, brochures, and floor plans.
Rena is specifically designed for the real estate industry in Singapore It comes preloaded with over 1,000 frequently asked questions and nearly 600 industry terms. The bot is connected to the Public Register API from the Council of Real Estate Agency (CEA) as well as a local address directory to increase workflow efficiency.
Rena is also integrated with modern cloud-based accounting systems such as Xero, allowing an invoice to be generated automatically following a transaction has been submitted. This eliminates manual entry errors and duplication of voltage.
“Not only does Rena preserve agents and businesses a lot of time on administrative work, it shortens our cash transfer cycle. Cash flow is especially significant for little to medium-sized agencies like us,” he said. Lina Chang, owner of VIP Realtors. In Rena’s accreditation, the real estate agency was awarded an Enterprise Development Grant (EDG) from Enterprise Singapore to cover 80% of the cost. “We are already seeing a significant improvement in operational efficiency as of day one, and I expect this improvement in productivity to increase by more than 50% over the next three months.”
Like all AI chatbots created by Pand.ai, Rina understands Singlish and recognizes common Singaporean terms such as “Ang Moo Kyu“HDB” and “CPF”. Real estate is a local business, so it is significant for Rena to understand how Singaporean real estate agents think and speak,” added Lee, a Singaporean who spent more than a decade in the real estate industry prior switching to technology using BandWe are excited to venture into proptech with Rena, and look forward to being part of the industry’s digital transformation journey in Singapore. “
About Pand.ai Pte Ltd
“Pandai” means intelligent in Malay. As the name suggests, Pand.ai specializes in developing customized smart chat bots for enterprises in Asia. Pand.ai’s clients include Schroders, Tesco, CIMB Bank, MSIG, Great Eastern, VIP realtors and more. You can learn more about Pand.ai on the website www.pand.ai
Pand.ai Pte source. Ltd.