Outsourced Settlement Services
Learn more about SAI Gobal Property's Outsourced Settlement, Stamping and Registration services for Conveyancers and Solicitors by clicking here.
Online Settlement Booking
SAI Global Property has translated over two decades of experience into a new cloud based facility to provide line of sight cooperation between lenders and conveyancers. Online Settlement Booking invites the conveyancer, acting on behalf of the purchaser and/or vendor, to validate transaction details, confirm the settlement booking and enter cheque directions or obtain a payout figure.
- Allows the customer’s chosen legal representative to collaborate with the bank to arrange settlement,
- Requires the legal representative to validate and confirm critical information to the success of settlement, prior to booking the settlement,
- Enables the legal representative to raise issues with the bank earlier in the process so that the expected settlement date can be realised,
- Allows the legal representative to book the settlement on line 24 hours a day, 7 days a week,
- Enables the settlement booking cut off time to be extended, thus providing greater flexibility to meet expected settlement dates and urgent settlement matters,
- Provides access to the bank’s information that the legal representative requires to prepare for settlement
- Provides automated alerts to the legal representative should the status of the matter change or if relevant information changes post settlement booking,
- Reduces rekeying of information by the bank by enabling the legal representative to enter the bank cheque directions online. This information is fed directly to the SAI Global Property Bank cheque Production system eliminating rekeying and associated rekeying errors.
Online Settlement booking options have been available from SAI Global Property since 2009. Settlement Manager is a new version that includes a verification step for legal representatives. Future releases will include the ability to perform Electronic Funds Transfers (EFTs), provide secure document management and facilitate electronic signature. It is SAIG Property's intention to provide a full Electronic Settlements service and to integrate to NECDL's PEXA system.
Mortgage Workflow
Settlement Manager (SM) is evidence of SAI Global Property’s investment in technology. Designed to further automate the settlement process, SM is currently in user acceptance testing and is scheduled to go live in December 2011.
Designed to be practical and useful, Settlement Manager:
- Guides users through the creation and management of settlement bookings,
- Creates an environment where the status of the file can be made available to all relevant parties,
- Improves efficiency and removes the most common errors that cause a settlement to fail. Incorporates workflow that offers a new level of processing efficiency with enhanced security and control,
Using the latest technology, SAI Global has integrated a number of key features including:
- Smart Search & Auto Complete
- Notifications (Email/Fax/SMS)
- Status Updates
- Integrated Settlement Bookings
- Pre-Settlement Data Validation
- Funds Disbursement Management
- Full Audit Trail
- User Management
- Reporting
- Customisation on request
