A new Electronic Lodgment Network Operator (ELNO) has progressed past stage 1 of the application process
Purcell Partners Pty Ltd (known as LEXTECH) 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 then undertake a rigorous testing process, and enter an operating agreement with each State Government. LEXTECH is expecting to be operational in NSW in about 12 months’ time.
We are also pleased with the announcement that the ASX and InfoTrack are working together to investigate creating a new ELNO.
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 the transition to eConveyancing with the current existing platform provider, PEXA.