11 August 2018

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Sympli has been making headlines as the latest entrant in the e-Settlements market. Sympli is a new e-Settlements platform that is seeking approval to operate as an Electronic Lodgement Network Operator (ELNO) across Australia.

An ELNO provides the means for transacting parties or representatives to collaborate electronically on the preparation of registry instruments, the settlement of funds and the lodgement of instruments with the land registry to complete conveyancing transactions.

What is Sympli? 
Sympli is a new electronic settlements platform, that once approved will provide an alternative option to the PEXA platform. It is designed to improve efficiency for all users from large volume to irregular users, and will provide comprehensive two-way integration with practice management systems to avoid errors and time lost in re-keying data.
Who is behind Sympli?
Sympli is a collaboration between InfoTrack and the Australia Securities Exchange (ASX). InfoTrack is Australia’s leading provider of e-Conveyancing technology and has been providing services to the legal, conveyancing and financial industries for over 18 years. ASX is one of the world’s leading financial exchanges, bringing experience in clearing and settling transactions with speed, reliability, and cutting-edge technology.
Why has Sympli been created?
Sympli has been created to provide the industry with choice, competition and efficiencies when it comes to e-Settlements. They have been consulting with the industry and practitioners to create a system designed by users, for users. Their aim is to provide the industry with confidence in adopting e-Settlements through choice, reliability and innovation.
Where will Sympli be operating?
Sympli plans to operate across Australia and was assessed as meeting the Schedule 3, Category 1 requirements of ARNECC’s Model Operating Requirements on 29 June 2018. Sympli has now commenced negotiations for approval to provide and operate as an Electronic Lodgment Network Operator (ELNO) with each State and Territory Registrar. You can view ARNECC’s notice to stakeholders here.
When will Sympli be ready?
Sympli aims to commence roll out of their new e-Settlements platform towards the end of 2018. Launch in each state and territory will be dependent on the outcome of ongoing negotiations.

Be the first to see a live demonstration of Sympli at CONNECT 18, a complimentary (1 CPD) seminar across 40 locations nationwide from 18 September-30 November. Register here today!

InfoTrack

Leading innovator in legal technology, InfoTrack is an award-winning Australian technology company that is helping a range of professionals and individuals move into the digital age. We create intuitive tools that enable you to find, analyse, organise and communicate information more efficiently and effectively.

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