ANZ – together with Gold Coast firms K2 Law and WP Lawyers – has completed the first financial settlement through Sympli Australia Pty Ltd.
In a statement, the electronic settlements provider said that the first settlement of a Queensland-based property via the Sympli platform “marks a significant milestone for the industry as it moves towards greater competition and choice for practitioners, lawyers and financial institutions”.
Sympli CEO David Wills said it was an “important step forward” for the long-term interests of the industry, as well as for the profession of the provider.
“To create a sustainable conveyancing market, competition is incredibly important. A competitive marketplace will deliver real benefits to end users; it challenges e-Settlement service providers to continuously innovate and improve their service offerings,” he said.
“We look forward to increasing Sympli’s presence in Queensland and around Australia, as we continue to grow our capability to meet the increasing demand for competitive e-Settlement services.”
ANZ lead of home loan operations Anthony Templar added: “The growth of electronic settlements in Australia is critical to providing a better settlement experience for our mortgage customers, and we are pleased to have been part of Sympli’s first settlement.”
At present, Sympli is operating in a soft launch phase, executing registration transactions in low volumes in NSW, Victoria and Queensland, it said.