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PEXA News 28 July 2014

SAI Global Property formalises commitment to PEXA

Australia’s largest provider of property settlements and search services, SAI Global Property, has officially become a PEXA Sponsor, clearly signalling to the industry that it is right behind the eConveyancing initiative and committed to seeing it ‘come to life’.

SAI Global Property is one of several major information brokers to become PEXA sponsors.

According to SAI Global Property’s Program Director, Electronic Settlements, Amanda Baker, who has played a key role in making the relationship happen, securing the company as a sponsor provides PEXA integration with Australia’s largest provider of settlement services to the legal and conveyancing sector.

SAI Global Property attends 50-60 per cent of all settlements Australia wide. In the 2014 financial year, it attended 580,246 settlements.

The PEXA platform will commence its roll-out in late 2014, with all states to be live by late 2015.

Ms Baker says integration with the PEXA platform will be via SAI Global Property’s Settlement Room software which is in the final throes of preparation for its launch to the legal and conveyancing practitioner market in the coming months.  

“While PEXA will not be seamlessly integrated into the back-end of our systems for some time, our customers will be able to access the PEXA platform and conduct property settlements from Day 1 of it going live. However, the actual transfer of information and data from our system to the PEXA platform will only happen later.

“Similarly, integration with our customers’ business processes will take time and will largely be determined by experience as well as greater definition around customer requirements.”
Ms Baker says electronic conveyancing will without doubt be a major change to conveyancers and legal practitioners who may require new technologies, and have an opportunity to adjust their operations and processes and the way they go about doing business over the long term. 

“However, with SAI Global Property, they are in the best possible hands. We have great processes and, as a sponsor, will help set them up as PEXA subscribers and provide them with all the support they need during the integration, ensuring their transition online is easy and seamless.”

Ms Baker says becoming a PEXA sponsor effectively provides SAI Global Property’s customers with ‘one port of call’ for all their conveyancing and PEXA needs, while also reinforcing the company’s leadership position in the industry as a major innovator.

“We’ll soon be in a position to provide our customers with everything they’ll need to complete a property settlement online -  the ability to conduct certificate of title searches, check restrictions on properties and purchase essential property certificates. In additional to our existing services, direct access to the PEXA platform will enable our customers to track and monitor the progress of matters, book settlements online, meet online with banks and other parties prior to settlement to resolve inconsistencies with ‘paperwork’ and access payment directions … and now, secure direct access to the PEXA platform where they can complete settlement and finalise lodgement.

“In addition to this, we’re also giving our clients the added option of us performing manual settlements for them, for those transactions that don’t qualify for PEXA. Basically, they don’t need to go elsewhere for any part of the settlement process – we’re giving them all they need now and into the future."

“In essence, we’re providing our users with continuity of experience in a time of considerable change.”

She says while customers are not obliged to integrate with PEXA via the company’s Settlement Room software, and can go it alone, signing up with SAI Global Property means they can integrate with the platform ahead of the pack. “It also means we can be their shining light when things get complicated.”


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