Following the expiry of a one-month free trial period, subscription to LMA.Automate is automatic and available at a competitive annual rate (payable quarterly) based on the number of users.
The number of users being added to the platform from your organisation will determine your requirements, and by extension your subscription fee. You can increase the number of users at any time.
LMA.Automate pricing is designed to encourage widespread adoption and use of the platform.
The LMA recognises the value to the loan market of a document automation platform that is readily accessible by its members, competitively priced to encourage usage and hence widely adopted and well-supported by a broad range of market participants.
Therefore, in establishing its approach to pricing its document automation service, LMA.Automate has been guided by the following core principles:
The Subscription Fees below reflect the economies of scale available to LMA.Automate and are considered to be competitive in the context of the potential efficiencies available to Subscribers from use of the platform as well as the benefits of digitisation/data analytics.
LMA members will be entitled to a Free Trial Period (with cancellation rights) when signing up to LMA.Automate. This will allow members access to the platform to appreciate the benefits and features of the service as well as the intuitive nature of the software.
| BANDS | NO. OF AUTHORISED USERS | 2024** |
|---|---|---|
| Band 1 | 5 users or less | £8,250 |
| Band 2 | 6 to 10 | £9,900 |
| Band 3 | 11 to 50 | £19,800 |
| Band 4 | 51 to 100 | £29,700 |
| Band 5 | More than 100 users | £49,500 |
Subscription Fee* per Authorised Organisation (i.e. per Subscriber)
*The Subscription Fees set out in the table above are exclusive of VAT and represent the per annum cost. Any annual increase will be effective from 1st January of the relevant calendar year.
** The Subscription Fee for any calendar year will be pro-rated after deducting any part of the Trial Period that falls in that calendar year. No decisions have been made at this stage as to the level of Subscription Fee beyond December 2024 but LMA.Automate intends to remain competitive and commits to giving notice in writing of any changes to Subscription Fees beyond 2024 at least 120 days prior to the start of calendar year 2025.
