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Last month saw the UK’s first ever Property Technology Summit take place in Canary Wharf, attracting leading British property technology companies in a bid to accelerate innovation in the multi-billion pound property industry. 
 
The Summit, forming part of London Technology Week 2014, created a space for the free-flowing exchange of ideas between property professionals and technologists, aiming to create new partnerships, synergies and networks. 
 
The event featured a diverse range of companies, including PayProp, a global processor of rental payments that has just launched in the UK. 
 
Speaking at the Summit, PayProp’s Head of European Business Development, Marc Freudweiler, commented: “In the UK we see a staggering need for a smart, simple and safe online platform that automatically processes and reconciles rental payments.” 
 
“Services like PayProp simplify property financials,” he added. “Agents receive alerts when a tenant has or has not paid rent, when beneficiaries have not been paid, and when tenancies are about to expire.” 
 
Other companies that also had the opportunity to showcase their new technologies at the summit included FlatClub, which offers a marketplace where students and professionals can find medium-term accommodation, CrowdProperty, which was formed to introduce crowd-funding into the property industry, as well as FixFlo, which offers reporting software, allowing tenants to submit maintenance reports in over 40 languages. 
 
This event marks the emergence of a new sector within the technology space and Freudweiler believes that property technology will be the next big thing to explode and “will change all our lives for the better.”
 

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