The conveyancing industry’s push to transact property online is unstoppable. An entire network of conveyancers, lawyers, lenders and land registries are making their mark on the technology taking them to 100% digital property transactions.
With these network members firmly in the driving seat, PEXA’s recent round of platform upgrades are brimming with enhancements based solely on their feedback.
Two contributing members explain why their insights matter.
Earlier this year PEXA held a Banking Transformation Symposium which included a collaboration and feedback forum, bringing members from across the network together to improve the platform, said Mark Blair, Denton’s Financial Product and Services National Client Relationship Manager.
“Dentons was the only panel firm in attendance for the entire symposium,” he reflected. “We’re big supporters of PEXA and do what we can to help improve processes, the platform and the relationship between network members.”
PEXA’s new efficient signing feature displays ‘all user’ Workspaces that have either documents and/or Financial Settlement Schedules to sign on one easy-to-use dashboard.
“Efficient signing is a product of the symposium. We were passionate about getting this into PEXA. It’s going to save us an abundance of time – it’s too slow without it. We’ve seen some screenshots so far and can’t wait for it to go-live,” he said.
“I’d recommend anyone to get involved in the feedback process at PEXA. There’s been a lot of things that we’ve fed in to the team. Many of them have pleasingly been implemented. It’s refreshing to see our needs listened to.”
As of 6 November 2017, Encumbrances in South Australia will be moving online. As a result, approximately seven in 10 new titles will be freed up to be transacted online. Michelle Lihou, Registered Conveyancer at Goolwa Conveyancing and an AICSA board member is looking forward to this upgrade for her business.
“We have a lot of ‘lift and replace’ encumbrances here because of new residential developments and, to date, we’ve had to do them the old way,” Michelle said. “The new functionality will enable more conveyancers and property lawyers to transact online.”
Being able to transact encumbrances has been on Michelle’s wish list for some time. As the PEXA system evolves, she's found it easy to make suggestions for improvements, which often appear in later versions.
She appreciates that the PEXA team is so responsive with change. “The Community noticeboard is excellent. We can log in and see what’s new, give feedback and suggest enhancements,” she added.
“With 84 online transactions already and another 11 on the books, Goolwa Conveyancing is well on track to complete its goal of 100 transactions by the end of the year. Give me another month. With encumbrances on board, the pace of change will move even faster.”
If you have any suggestions for PEXA’s platform, simply raise your idea on the e-Conveyancing Community.