Sympli ready as ‘Day 1’ approaches

Thursday 7 September 2023 – Sympli, the eConveyancing network operator, has signalled its readiness for the ‘Day 1’ transactions, a significant milestone on the road to bring competition to the eConveyancing market. ‘Day 1’ will be two live interoperable refinance transactions in Queensland, planned for next week, with each of Sympli and PEXA taking on the role of Responsible ELNO for one transaction.

Sympli has worked closely with key stakeholders in industry and government to prepare for these transactions and is confident that the work it has done for Day 1 in its build will lead to a successful transaction, with Sympli’s build for Day 1 having been completed more than 6 months ago.

The process leading to the Day 1 transactions has demonstrated that the model for interoperability, which has been recommended by independent experts and designed by ELNOs in collaboration with ARNECC, is fit-for-purpose.

Sympli is looking forward to the success of the Day 1 transactions and looks forward to continuing to improve how interoperability is implemented as we move towards full interoperability by 2025.

Sympli Chief Executive Officer, Philip Joyce, said: “Day 1 is a significant step on the journey to achieving competition in this market. I am immensely proud of the work done by the Sympli team as we approach this milestone.”

“Whilst a successful transaction will be a great achievement, there still remains much work to be done in the lead up to full interoperability – government and industry must not take their eye off the ball.”

–ENDS–

Media Inquiries: Jerome Boutelet, Public Affairs Manager at media@sympli.com.au, or 0411 045 119

About Sympli
Sympli is the result of a collaboration between InfoTrack and ASX. We want to create more opportunity, add value and represent the market with an e-Settlements service from which practitioners across Australia can benefit.

InfoTrack is Australia’s leading provider of e Conveyancing technology and services and has been creating software for the legal and financial industries for over 18 years. InfoTrack has a focus on simple, end-to-end solutions, leveraging expertise to craft a truly integrated e-settlements platform that you can trust.

As one of the world’s leading financial exchanges, the ASX bring experience in clearing and settling transactions with security, speed, reliability, and cutting-edge technology. The combination of the two brings you Sympli: the next-generation e-settlements solution delivering healthy competition, reliability, security and value to the industry. For more information visit www.sympli.com.au