Monday, 01 October 2018 09:25

InfoTrack app aims to ease conveyancers' move to online settlement

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InfoTrack app aims to ease conveyancers' move to online settlement Pixabay

Integrated search company InfoTrack has developed an application known as SettleIT to help conveyancers meet the Victorian Government's electronic lodgement mandate that came into force on Monday.

From today, certain conveyancing transactions would have to be lodged through an electronic lodgement network by practitioners, unless they have an exception, InfoTrack said in a statement.

The company's chief executive John Ahern said: “We are currently travelling around the country to speak with conveyancers who have confirmed that these new regulations and processes are generating increased pressure and risk. There is a real call for help to deal with these changes which our clients feel have been thrust upon them.”

InfoTrack cited a recent Web poll of legal and conveyancing professionals in Australia as indicating that although the majority planned to tackle the transition to processing settlements in-house, 11% planned to use an agent to complete their settlements, 15% were too busy to deal with the changes that come with the mandate and 7% planned to stop doing conveyancing work altogether.

Added Ahern: "We feel that InfoTrack’s role is to champion the needs of practitioners and support them through this transition to digitisation. InfoTrack already has a highly experienced network of settlement staff across Australia that serve over 7000 clients and process an average of 200,000 settlements per year.

"It is a logical step to combine the knowledge, expertise and service of our settlements team with our innovative technology to take some burden off our clients’ shoulders, and this is what SettleIT does."

InfoTrack general manager, Product and Innovation, Lee Bailie, said: “We’ve created the SettleIT service to offer an accessible, affordable alternative to handling the settlement processing in-house.

"Conveyancers don’t need to change how they’re running their practice or register for an ELN, they simply provide us with their instructions and documents and we determine whether it can be lodged manually or electronically.

"The conveyancer approves all critical steps along the way and receives real-time updates while we work in the background to process the settlements and ensure that everything is running smoothly on their behalf. As our clients would be used to pre-mandate.”

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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