Embracing change: ARNECC interoperability mandate for 2025

The commitment to evolving property conveyancing in Australia has seen a huge shift in the way the industry operates. In recent years, the mandates brought to the industry have sparked substantial progress, ushering a transition from manual processes to streamlined electronic workflows. At the forefront of this evolution are the voices of practitioners themselves. They have not only asked for change but necessitated it. This blog explores how the industry is leading the charge in responding to the needs and demands of its practitioners, driving forward progress and innovation in the pursuit of greater efficiency and effectiveness.
Recently, the Australian Registrars’ National Electronic Conveyancing Council (ARNECC) made a significant announcement, setting forth a mandate for full interoperability among electronic lodgment network operators (ELNOs) in New South Wales and Queensland by December 31, 2025.
Interoperability empowers key stakeholders, including conveyancers, lawyers, and financial institutions, to have autonomy in the decision-making process. By seamlessly engaging with a platform of their choice, practitioners gain the ability to shape their experience, ensuring that the platform works for them rather than imposing rigid structures upon them. This directive from ARNECC marks the dawn of a new era, one characterised by enhanced competition and increased options for stakeholders, promising expedited processes and improved efficiencies throughout property settlements.
Daniel Petrucci, General Manager of SettleIT, an award winning, outsourcing agent built for the needs of lawyers and conveyancers, sees this development as a positive and welcome change. “Interoperability offers the right for every practitioner to choose their ELNO irrespective of the one used by another transacting party.”
For practitioners uncertain about choosing an ELNO, or practitioners wanting to outsource their lodgement and settlement administration, SettleIT offers a solution. “You don’t need to be registered with an ELNO to use SettleIT,” explains Daniel. “Our team is registered with both Sympli and PEXA, and we utilise our own accounts to facilitate transactions on your behalf.” SettleIT streamlines the electronic lodgment and settlement process, allowing practitioners to focus their time and energy on value-adding tasks rather than administrative burdens.
Outsourcing to SettleIT enables practitioners to delegate repetitive tasks associated with eConveyancing, beyond managing ELNO workspaces. SettleIT also attends to stamping, conducts identity verifications, obtains client authorisation forms (CAF), prepares transfers and adjustments, and more.
As the industry gears up for full interoperability among ELNOs, solutions like SettleIT are poised to empower practitioners and streamline property settlements, paving the way for a more efficient and competitive landscape in the Australian property market. With the right tools and support in place, practitioners can navigate this transition with confidence, embracing the opportunities presented by this technological advancement.