The personal and professional unrest caused by COVID-19 has been tangible across the world. Like most businesses, Colwell Lyons Lawyers had to move quickly to protect their employees while simultaneously maintaining its business continuity throughout the global crisis.
Stacey Drane, Conveyancing Paralegal for Principal Solicitor David Colwell at Colwell Lyons Lawyers, stated that the firm’s adoption of electronic settlements has allowed it to be agile and flexible in its response to the current situation.
“The resilience that PEXA has provided the firm is astronomical. We were instantly able to reassure our clients that their settlements could still proceed, and safely. We were also able to protect our staff by offering them the ability to work from home and minimise their exposure to close person-to-person interactions. Something that would have been impossible without digital transactions”, Stacey shared.
Since the onset of COVID-19 restrictions, an increasing number of Queensland firms have embraced electronic settlements, with an excess of 770 firms now registered to transact online.
“Three quarters of our files are electronic now – it’s fantastic. However, we would prefer if it was 100%. For the quarter that are still paper transactions, our law clerks are at risk attending settlement and still racing around to bank branches with cheques. Online settlements are much safer, and easier!”
Cybercrime costs Australian businesses $29 billion each year, with Queensland as one of the three most targeted states. Strong cyber security measures have never been more critical for law firms as security experts are warning of spikes in cyber-crime attempts during this time. To bolster its cyber security, Colwell Lyons Lawyers offers its clients PEXA Key as a secure channel to communicate trust and bank account details.
“PEXA Key adds an extra layer of security and resilience to our service. On top of our verbal security checks, clients who use PEXA Key confirm their bank account details again with the app, protecting their investment from potential cyber threats.”
Stacey also mentions that her clients love PEXA Key for the added, novel experience of tracking their settlement in the palm of their hands.
“Our clients have loved using PEXA Key, especially our investor clients. They’ve never been able to follow the conveyancing process before. It’s removed the anticipation associated with settlement and instead added excitement to the journey. It makes sense. We track everything now, our uber, our food delivery, our parcels, why not our property settlement?”
If you’d like to start transacting online, contact Rukshana.Sashankan@pexa.com.au
As featured in QLS Proctor - June Edition