Sympli welcomes go-live dates for full interoperability

20 September 2023 – Sympli welcomes the Australian Registrars National Electronic Conveyancing Council (ARNECC) update to the operating requirements to ensure that full interoperability be ready by no later than the end of 2025.

Yesterday, ARNECC released a consultation draft of the Model Operating Requirements (MOR), which will require that Electronic Lodgement Network Operators (ELNOs) design, build and test all technical and functional capability for interoperable transactions on or before 31 December 2025. This date was determined by ARNECC earlier this year following a robust review into interoperability timing conducted by Accenture.

Mandating these dates is another significant step to ensuring that interoperability competition reforms stay on track for the benefit of industry and consumers.

Sympli looks forward to continuing to work with industry, financial institutions, and governments to ensure that these competition reforms take effect as soon as possible.

Submissions on the draft MOR changes close 31 October 2023.

Sympli Chief Executive Officer, Philip Joyce, said: “It is critical that the dates proposed by ARNECC are mandated as soon as possible to ensure that these reforms are finally implemented. All industry stakeholders are looking for certainty to guide a thorough implementation process.”

“Only one-party benefits from further delay and that is the monopoly. These reforms will bring the benefits of competition to thousands of businesses and millions of people across the country. We must continue the momentum as an industry and follow through on promises made to consumers”.

–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