Australian ministers have welcomed the first transaction between eConveyancing service providers, which paves the way for greater competition and full compatibility between their networks by the end of 2025. Two refinancing transactions, together worth almost $1 million between Commonwealth Bank and NAB, were undertaken over the last two days in Queensland. PEXA, which currently processes…
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Market dominant electronic conveyancing provider PEXA is seeking another delay in the timeline for enabling competitors to interoperate with its systems, after complaining that the requirements are more difficult to meet than had been anticipated. Australian Registrars National Electronic Conveyancing Council (ARNECC) said in July that it expects “full interoperability functionality to be released by…
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