A second Electronic Lodgment Network Operator (ELNO) has progressed past stage 1 of the application process
Sympli Australia Pty Ltd (known as Sympli), which was established as a collaboration between ASX Limited and InfoTrack Pty Limited, has moved past stage 1 of the approval process as a possible ELNO.
We believe the entry of new providers is good for eConveyancing. They increase competition. And competition encourages efficiency, creates a wider choice for customers, and can help create pressure on prices and improve quality of services.
Once an applicant passes stage 1, they can further evaluate their approach and can start building a platform. Before they can operate they undertake a rigorous testing process, and enter an operating agreement with each State Government. Sympli is expecting to be operational in NSW this year.
This is further evidence of the success of the eConveyancing reform.
The NSW Office of the Registrar General, together with the other Australian Registrars’ National Electronic Conveyancing Council (ARNECC) members, are investigating options to ensure the market operates efficiently so all participants and customers benefit from competition.
As new providers establish themselves, we will continue to support practitioners transition to eConveyancing with the current existing platform provider, PEXA.