Sympli

You may have seen ARNECC’s announcement that it will not proceed with interoperability at this stage, pending Federal Government support.

At Sympli, we want to reassure you: we remain fully committed to a competitive, resilient property transfer market.

Interoperability can deliver this within 12–18 months. Monopolies lead to higher costs and poorer outcomes, something our industry and Australians shouldn’t have to accept.

We’ll continue working to ensure conveyancers, lawyers, settlement agents and their clients have real choice.

Now is a critical moment. Governments must decide whether to support competition or risk leaving a $1 trillion market in the hands of a single provider.

If you agree, add your voice by signing our supporter pledge:

www.sympli.com.au

Having spoken with a number of key industry figures since the ARNECC announcement, Sympli remains firmly in the fight to deliver competition and resilience to our industry.

➡️We will be relentless in our focus on Commonwealth engagement to unlock progress. This includes the Treasurer and Competition Minister Andrew Leigh MP.
➡️We will build on our constructive engagement with the Reserve Bank of Australia and ACCC to drive real action.
➡️We will press key State Ministers, including Minister Jihad Dib and Minister Dale Last, to ensure their powers are fully exercised to hold the monopoly to account and drive meaningful change.
➡️We will make clear to the major banks and Australian Banking Association (ABA) that continued inaction undermines system resilience and denies choice for small businesses.

It also requires stronger, more visible advocacy from across the industry to ensure all levels of government understand what is at stake and why reform must be delivered.

Otherwise, we are choosing to remain in a monopoly system, leaving customers, small businesses and governments exposed to a single point of failure and the ongoing consequences of inaction.

This is a defining moment for our industry.
Progress from here will require coordination, conviction and action.

Sympli remains committed to playing our part!

Rosey Perez and Paul Atkinson were lucky enough to enjoy some sunshine before connecting with practitioners and our InfoTrack AU friends at another AML/CTF event at Cronulla RSL today. Surely there's few better spots to be working on a day like today!

Sympli ready to deliver innovative QLD electronic leasing — blocked by stalled interoperability reforms - Media Release 👇

Sympli today announced it has completed development of its Queensland electronic lease lodgement capability ahead of the incumbent but cannot roll it out at scale due to the continuing lack of interoperability in Australia’s eConveyancing market.

Interoperability is the nationally endorsed reform that allows parties using different Electronic Lodgment Network Operators (ELNOs) to complete the same transaction—yet it remains paused and delayed, holding back competition and innovation.

Queensland has mandated eConveyancing for key instruments since 20 February 2023, with Titles Queensland confirming Sympli and PEXA as the two approved ELNOs and continuing work to expand the scope of instruments available for digital lodgement—including leases.

Recent changes were introduced to make lease registration compatible with eConveyancing— demonstrating market readiness for electronic leasing as soon as ELNOs can transact interoperably.

Despite industry progress, ARNECC (the national eConveyancing regulators) paused the design build test workstreams for interoperability in June 2024, and only began scoping next steps earlier this year, citing unresolved issues raised by banks. This pause has materially impeded competition and the delivery of consumer benefits.

Sympli is confident that the soon to be released ARNECC reviews will confirm that a first practitioner led release of interoperability can be implemented in Queensland by the end of 2026.

Philip Joyce, CEO, Sympli, said: “Our QLD electronic lease capability is built and ready. Practitioners and businesses want the speed and certainty of digital leasing, and Titles Queensland has paved the way. But until interoperability is delivered to market, many will have to solely rely on the monopoly network. In this case the monopoly is behind the 8 ball and has yet to deliver this feature for industry.”

“Interoperability is the cornerstone of a safe, competitive eConveyancing system. Ministers endorsed it, regulators trialed it, and NSW and QLD have signaled their intent to lead. The remaining barriers are regulatory and program delivery choices—not technology readiness. It’s time to move from reviews to release.”

https://lnkd.in/gmnZTFHi