SYDNEY, Oct. 9, 2024 /PRNewswire/ -- The City of Austin has entered into a landmark contract with Archistar for the deployment of its innovative automated building permit assessment software. This 5-year contract represents a significant step forward in leveraging AI to streamline the city's building permit assessment processes.
Dr Benjamin Coorey, Founder of Archistar
Dr Benjamin Coorey, Founder of Archistar
Dr Benjamin Coorey, Founder of Archistar
Archistar, an industry leader in AI-driven property and planning solutions, has been at the forefront of digitizing planning and building codes for seven years. Originally based in Australia, Archistar has experienced overwhelming demand in North America, with Austin becoming the first U.S. City with a contract to fully implement Archistar's AI-powered platform after a successful three month pilot. Over 30 cities globally are now piloting or using Archistar to improve their permit assessment process.
"We are thrilled to be working with the City of Austin, a recognized leader in innovation within the U.S.," said Dr. Benjamin Coorey, Founder of Archistar. "Our AI technology will significantly improve approval times, reduce costs, and allow the city to focus on more complex evaluations, creating a more efficient and effective permit review process."
About Archistar eCheck
Archistar's eCheck technology plays a pivotal role in this transformation. The process begins when an applicant submits their design for a pre-check assessment before they apply for their permit. The eCheck platform reads the designs directly from the submitted drawings and evaluates the design against digitized planning and building codes. The outcome of this assessment is a comprehensive, standardised compliance report, which is then included with the permit application demonstrating compliance. This automated, data-driven process simplifies complex regulatory frameworks, enabling faster, more consistent decision-making for both applicants and city planning authorities.
Typical Challenges in Permitting
The process for reviewing and approving permits can be lengthy, especially when dealing with high volumes or complex projects. The permitting process continues to face a variety of challenges, including:
Benefits of Archistar's Platform
The pilot program proved the value of Archistar's eCheck technology, particularly in addressing the complexities of zoning bylaws within the permit assessment process. The full platform deployment promises further benefits, including:
The City of Austin faces challenges including managing complex zoning by laws and ensuring timely compliance in its permitting process. "With Archistar's platform, we will be able to provide faster and more informed feedback on building plans, and that's crucial in our journey to improve the development process," said José G. Roig, Director of Austin's Development Services Department. "The eCheck technology will transform the building plan review process, helping us deliver a smoother process for applicants and better service to our community."
The City of Austin continues to collaborate with Archistar, being one of ten cities to also participate in a pan-USA pilot focused on automating the International Building Code compliance review. This collaboration between key cities in the US, the International Code Council and Archistar is a project that will likely shape the future of building code permit assessment across the country.
Dr. Coorey added, "We're excited to partner with the City of Austin, and the benefits will extend to developers, homeowners, and city staff alike. Our platform's AI-driven capabilities are designed to not just streamline processes but to deliver a digital transformation resulting in more housing for the City."
About Archistar:
Archistar is a global leader in AI-driven property technology, specializing in automating zoning and building code compliance, 3D generative building design, and providing data-driven insights for city planning and property development. The company operates globally with clients across Australia, the U.S., Canada, and the Middle East.
For more information, visit www.archistar.ai.
Media Contact:
Alex Howeson
Archistar Pty Ltd
alex.howeson@archistar.ai
City of Austin Contact:
DSD Media Team
Development Services Department
dsdmedia@austintexas.gov
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Archistar Secures Contract with the City of Austin for Groundbreaking AI-Powered Automated Building Permit Assessment Platform
SYDNEY, Oct. 9, 2024 /PRNewswire/ -- Anthony Denier, the Group President of Webull Corporation ('Webull'), a leading digital investment platform, recently concluded a visit to the Asia-Pacific region. The trip underscored Webull's growth ambitions and ongoing commitment to expanding its footprint in the region. Building on its success in the U.S., Webull entered Hong Kong in 2020, followed by expansions into Singapore and Australia in 2022. In 2023, Webull entered Japan and Indonesia, and, most recently in 2024, Malaysia and Thailand. As of 31st July 2024, Webull has achieved a remarkable year-over-year ('YoY') growth rate of 100% in its assets under management (AUM) within the APAC region.
"We are incredibly proud of Webull's rapid expansion in the APAC region. Since we entered APAC in 2020, we have seen a steady increase in our user base, with investors leveraging Webull's trading tools to develop comprehensive and diversified investment portfolios across the U.S. and APAC markets. In the next two years, Webull aims to be a top broker-dealer in every region, and we remain committed to developing innovative solutions that will allow us to grow significantly while ensuring trading remains accessible and affordable for all retail investors," said Mr. Denier.
Strong American genes, deeply rooted in the global market
Launched in the U.S. in 2018, Webull has since expanded its reach to the APAC region, Europe, Africa, and Latin America, achieving over 40 million downloads globally and surpassing 20 million registered users. In 2023, Webull saw a YoY increase of 38% in customer assets, reaching a value of US$8.2 billion. For the full year of 2023, the equity notional volumes of U.S. stock trades, reflecting platform user trading activity, reached US$371 billion, and the number of options contracts traded reached 430 million. In the fourth quarter of 2023, Webull achieved a user retention rate of 98%. These performances are a result of the positive trading experience for users and the trust they have in Webull.
Already one of the leading digital brokerages in the U.S., Webull continues to strengthen its presence across 13 global markets. Its strong foundation in the U.S. allows Webull to serve as a key gateway for local investors in APAC to access the U.S. market. In addition, Webull is committed to providing both the tools and knowledge needed to empower investors to better navigate the investing world, making Webull a trusted brokerage amongst local investors.
Webull Australia establishes itself as a serious competitor in the Aussie broking landscape
Since the launch of Webull Australia in late 2022, the firm was also admitted as a Trading Participant in May 2023 on the Australian Securities Exchange ('ASX') and Cboe Australia Pty Ltd ('Cboe'), providing assurance to investors as to the security and legitimacy of Webull's trading platform.
To further establish its presence in Australia, Webull has rolled out a variety of industry-leading market features and services over the past few years. Along with CHESS-sponsored ASX stocks, it now offers access to over 15,000 global stocks and ETFs, alongside US options , and US fractional shares, allowing Australians to diversify their portfolios beyond local markets. The inclusion of US options trading and the availability of US fractional shares address the needs of a wide range of investors, from the cautious to the adventurous, and from the small-scale investor to those with larger capital outlays. In addition, the firm also offers trading in Hong Kong and China connect securities.
Earlier this year, Webull implemented a game-changing feature by providing 24/5 trading access, allowing Australian investors to trade US stocks outside the conventional market hours. This significantly enhances the flexibility afforded to Australians by enabling them to participate in the US markets in a timeframe more suited to their schedules, despite time zone differences. In parallel, by offering $0 brokerage on an extensive range of ETFs, Webull reduces the cost barrier for frequent traders and those looking to rebalance their portfolios without incurring high transactional costs.
Webull's innovative cash management service is another remarkable addition that allows traders to earn competitive returns on their uninvested balances. This service ensures that capital reserves are never dormant and are instead actively contributing to an investor's overall return potential.
Rob Talevski, CEO, Webull Securities Australia, said "We pride ourselves on the level of market access that we provide our local investors, with minimal fees and industry-leading technology, products, and services. The ongoing growth of our user base is a testament to the quality of the product we offer Australian investors, which we will continue to optimise."
To learn more about Webull's products and services, please visit the website: https://www.webull.com.au/
Media contact:
Cognito for Webull
Webull@cognitomedia.com
About Webull Australia
Webull Securities (Australia) Pty. Ltd. is a leading financial services provider, holding an Australian Financial Services Licence (AFSL 536980) and regulated by the Australian Securities and Investments Commission (ASIC). As a trading participant of both the Australian Securities Exchange (ASX) and Cboe Australia, and a principal member of the Stockbrokers and Investment Advisers Association, Webull ensures the highest standards of service and security. All client funds are securely held in client money trust accounts at an approved Authorised Deposit-taking Institution (ADI), and all Australian shares are CHESS-sponsored.
About Webull Group
Webull is a leading digital investment platform built on next generation global infrastructure. The Webull Group operates in 15 regions globally and is backed by private equity investors located in the United States, Europe and Asia. Webull serves 20 million registered users globally, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures and fractional shares, through Webull's trading platform. Learn more at https://www.webullcorp.com/.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Webull's Group President visits Asia-Pacific, affirms commitment to the region
