Placekey Announces Relationship with Data Vendors, Including National Property Data Leader First American Data & Analytics

Rhea-AI Summary

On May 3, 2021, Placekey announced a strategic partnership with First American Data & Analytics to enhance property data accessibility. This collaboration integrates Placekey's universal location identifiers with First American's datasets, covering tax assessments, foreclosures, and real estate listings. The aim is to streamline data merging across platforms, reducing errors and time spent on data management. With backing from over 500 organizations and significant market adoption, Placekey continues to establish itself as a vital tool for improved data interoperability in the real estate sector.

Positive

• Strategic partnership with First American Data & Analytics enhances data accessibility.
• Integration of universal identifiers simplifies data merging, reducing errors and time consumption.
• Widespread adoption with backing from over 500 organizations boosts credibility.

Negative

• None.

DENVER, May 3, 2021 /PRNewswire/ -- Placekey, the free universal location identifier for places, today announced a strategic relationship with First American Data & Analytics, a division of First American Financial Corporation (NYSE: FAF) and a leading global provider of property and ownership data and advanced analytic solutions.

"By pairing our datasets to Placekey's unique identifier, we are helping solve a large industry problem."

Placekey launched last year with the support of over 500 organizations and is now establishing a series of high-profile partnerships, among them, Experian and Snowflake. This new relationship with First American Data & Analytics leverages the use of Placekey's free universal standard identifiers across datasets ranging from tax assessments, foreclosures, county recorder, property valuation, and real estate listings. By doing so, First American data is now available for other vendors and users to access.

The unique identifier can be used to join First American Data & Analytics datasets with other vendor's datasets to empower businesses to make informed lending and real estate decisions. Most addresses are formatted differently across multiple datasets, which makes it difficult to merge or join. Placekey solves this challenge by creating and sharing a unique identifier for each line of data. The datasets can compare data points, recognize the unique identifier, and seamlessly join attribute data.

"By pairing our datasets to Placekey's unique identifier, we are helping solve a large industry problem by making nationwide property data more readily available in an easily-consumable way. It will ultimately help reduce friction, minimize errors and improve the speed of data updates," said Matt Key, director of sales, First American Data & Analytics.

First American is also appending Placekey's unique identifiers to improve the product experience with other Placekey vendors like Geospatial Insurance Consortium (GIC) and parcel data vendor, Landgrid. By normalizing addresses that previously took hours and hours to clean up, data can be easily joined across datasets. Vendors can now be more efficient, saving them time and money.

More information about Placekey:
Placekey is a free universal location identifier that solves problems around address and POI matching, standardization, deduplication and entity resolution. Placekey launched with the backing of over 500 organizations, including Esri, CARTO, SafeGraph, Accenture, Tableau, and Snowflake. Since launching, Placekey has seen widespread adoption with commercial organizations like TripAdvisor and Experian, city governments, independent developers, and local nonprofits adopting Placekeys in their datasets. Placekey hosts a 7,000-plus-member online Slack community that has used the tool to facilitate COVID-19 research, among other uses.

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SOURCE Placekey

FAQ

What is the significance of Placekey's partnership with First American Data & Analytics for FAF shareholders?

The partnership is designed to enhance property data accessibility and streamline data management, potentially improving the value of FAF's offerings.

How does Placekey's identifier benefit First American's datasets?

It simplifies merging datasets, minimizes errors, and improves speed in data updates for better decision-making.

When was the partnership between Placekey and First American announced?

The partnership was announced on May 3, 2021.

What is FAF's strategy regarding data integration?

FAF aims to improve product experience by appending Placekey's unique identifiers to their datasets.

How many organizations support Placekey's initiative?

Placekey has the backing of over 500 organizations, enhancing its credibility in the industry.