Progress towards interoperability in the Electronic Lodgment Network Operator (ELNO) space
Progress towards interoperability in the Electronic Lodgment Network Operator (ELNO) space We have seen significant progress in the Australia property industry in recent years towards the adoption of online electronic conveyancing systems and processes. The COVID-19 pandemic accelerated this adoption as the community had to rely on digital and electronic solutions to connect with one another and maintain business continuity. Momentum has continued in this space as the need for digital conveyancing solutions have become not only necessary, but a preferred way to operate. During this critical period of transformation key industry stakeholders have been coming together in various forums and workshops to consider how interoperability should work in the industry. As of February 2022, changes to the Electronic Conveyancing National Law (ECNL) will be introduced into NSW Parliament, to deliver a secure national interoperability regime and effective competition in the Electronic Lodgment Network Operator (ELNO) space. What are the changes? The amendments will require an organisation approved as an ELNO to establish and maintain interoperability with each electronic lodgment network operated by another ELNO. These significant changes pave the way for national interoperability, with better competition and choice for practitioners. Keep up to date with the announcement and read the full