Press release - kodehyve launches real estate e-signature platform
- Together with Chambre Immobilière and LuxTrust, kodehyve has launched a new standardised e-signature platform specifically tailored to the real estate sector in Luxembourg, powered by Amazon Web Services.
- With the product release, the technology venture and its partners are enabling all relevant stakeholders in the market to sign legal documents within a fully compliant and secure online platform.
Launched in early 2020, kodehyve aims to accelerate the development of commercial and residential real estate projects by improving the collaboration between the numerous participants in the market. After successfully raising €1m in seed financing in the spring of 2021 and offering its data-driven infrastructure to a growing number of clients, kodehyve has reached a new milestone in the development of its sector-specific suite of digital tools: the launch of an e-signature platform that is set to become the industry standard for reviewing, editing, and signing legally binding documents in the Luxembourgish market.
A secure and fully eIDAS-compliant solution for making legal paperwork easier
Based on extensive customer research, kodehyve has identified e-signatures and the digital handling of legal documents in a compliant way to be two of the most pressing needs among real estate professionals. The real estate ecosystem called for a solution that optimally connects all stakeholders, enabling users to manage and approve documentation online in a secure, transparent, and collaborative manner while also ensuring that all required legal information is provided. In partnership with the Real Estate Chamber of Luxembourg (Chambre Immobilière du Grand-Duché de Luxembourg, CIGDL), kodehyve has developed an e-signature platform that caters to the particular needs of property developers, agencies, architectural and engineering firms, end-customers, and subcontractors alike.
One of the key elements that differentiates the newly launched solution from existing e-signature platforms is the possibility for users to use predefined documents that are approved and legally certified by CIGDL. Kodehyve’s e-signature platform for the real estate sector ensures full compliance under existing European Union (EU) laws, adhering to the "electronic identification, authentication, and trust services" (eIDAS) regulation for electronic signatures and transactions in the EU internal market.
Numerous advantages for all stakeholders in the market
By using kodehyve’s sector-specific e-signature platform, real estate professionals can upload their own contracts and templates when signing agreements in addition to using a wide range of standardised contracts officially certified by the CIGDL. Access to pre-approved documents and associated workflows are two of the main advantages the new e-signature platform offers its users. Additionally, the modular platform includes holistic audit trails, which guarantee the traceability of all changes made and steps taken when managing documentation. Overall, the e-signature platform guarantees equal access to legal documents and a simplification of required procedures for all stakeholders within the Luxembourgish real estate ecosystem, including real estate funds, engineering offices, insurance companies, banks, and governmental authorities, ultimately setting a new industry standard.
By rolling out the e-signature platform in the Luxembourgish market, all parties involved in a real estate transaction or development project can from now on significantly speed up and optimise their processes in a secure and compliant way while also protecting the environment: more than 170 kg of wood, 4,000 litres of water, and 400 kg of CO2 are saved when handling 500+ documents digitally. According to kodehyve user data, using a streamlined e-signature process instead of handling documents offline saves real estate professionals an average of 16-24€ in costs per transaction, improves productivity by more than 85%, and reduces errors due to incomplete data by up to 80%.
Leading players join forces for a new industry standard
For developing its standardised e-signature platform in collaboration with CIGDL, kodehyve chose to work with two other market-leading organisations: The digital tool is built on the cloud infrastructure of Amazon Web Services (AWS) and also uses existing services by online identification solutions provider LuxTrust. Using AWS for hosting and AWS serverless technologies, which includes different programming languages such as S3, Cognito, Amplify, and DynamoDB, enables kodehyve to leverage a state-of-the-art cloud infrastructure that ensures technical stability, security, scalability, and 99.99% server uptime. By adding LuxTrust’s well established online identification solutions, real estate professionals can rely on a simple and advanced e-signature without actually needing a LuxTrust certificate to sign, thereby accommodating transactions for both local as well as international signatories. The LuxTrust “e-seal” adds a key component to the platform by disabling the possibility of altering documents after they were signed, adding an extra layer of security and user confidence.
Leveraging its expertise in user experience (UX) design and digital product development, kodehyve tops off the new industry standard for signing legally binding documents for all members of CIGDL and the whole Luxembourgish real estate sector by making the tool user-friendly for signatories based in and outside of the country. While being accessible to users of all ages, kodehyve’s e-signature platform serves especially the needs and expectations of digital-savvy younger generations that increasingly push into the market on either side of the table.
The standardised solution will be continually refined and extended in close collaboration with CIGDL and based on the feedback by its members. As Luxembourg is one of the most diverse and multi-linguistic countries in the world, the e-signature platform is currently available in English, French, German and Luxembourgish. Portuguese and other languages will be added to the platform shortly.
kodehyve is a leading international provider of digital solutions for the real estate industry. The technology company was founded in 2020 with the goal to build a data-driven collaboration infrastructure that serves real estate professionals and their clients to improve the development of commercial and residential projects. By largely replacing inefficient workflows, transparency issues, and outdated customer experiences, kodehyve effectively empowers all stakeholders in the real estate industry to more efficiently plan, manage, and analyse their construction and commercialisation projects.
Through the careful selection of powerful in-house modules and third-party APIs within the areas of project management, customer relationship management as well as business intelligence, kodehyve offers plug-and-play software solutions that are secure, compliant, and tailored to the real estate market. Providing a high-quality white-labelled platform in the customers’ look-and-feel, features available include task and deadline management, information and document exchange flows, customer onboarding, e-signatures, KYC and AML checks, billing, live chat, budgeting, financial & data analysis, and more.
Based in Luxembourg, kodehyve currently employs 12 people and serves a growing number of clients in Europe. To fulfil its mission, kodehyve works with strategic partners such as Amazon Web Services, LuxTrust, European Proptech Association, LuxPropTech, and Chambre immobilière du Grand-Duché de Luxembourg. The technology company graduated from the “Fit4Start” acceleration programme by LuxInnovation and the Luxembourg Ministry of Economy in 2022. To learn more about kodehyve, visit kodehyve.com.
ABOUT CHAMBRE IMMOBILIÈRE
For nearly 50 years, the Chambre Immobilière du Grand-Duché de Luxembourg (CIGDL) has been an independent, non-profit organisation whose main mission is to guarantee quality relations between its members and their clients for enhancing the Luxembourgish real estate sector. The federation gathers more than 250 real estate companies and experts, ranging from the three main professions of the sector: real estate agents, property managers, and promoters. By signing the CIGDL charter, they commit themselves to provide high quality services, aiming at fully satisfying their customers, within the framework of a strict code of ethics. To learn more about CIGDL, visit chambre-immobiliere.lu.
Since its inception, LuxTrust has been equipping clients and businesses with complete, tailor-made digital solutions to digitise processes and enhance overall efficiency. Certified in accordance with the eIDAS regulation and thus acting in compliance with the latest European regulations (PSD2, GDPR, ETSI, AML), LuxTrust operates services relating to the identification and authentication of natural persons, the creation and management of electronic certificates (required to sign electronically), and the creation and validation of electronic signatures and seals. LuxTrust is an eIDAS Qualified Trust Service Provider published in the EU Trusted List and a Certification Authority. To learn more about LuxTrust, visit luxtrust.com.
ABOUT AMAZON WEB SERVICES (AWS)
For over 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud offering. AWS has been continually expanding its services to support virtually any cloud workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 81 Availability Zones within 25 geographic regions, with announced plans for 27 more Availability Zones and nine more AWS Regions in Australia, Canada, India, Indonesia, Israel, New Zealand, Spain, Switzerland, and the United Arab Emirates.
Millions of customers — including the fastest-growing startups, largest enterprises, and leading government agencies — trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.
Felix Hemmerling (fluent in English, French, German, Luxembourgish)
Co-Founder & CEO
Solène Magnani (fluent in English, French)
Brand Communication Strategist
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