ASL’s property settlement solution
PEXA’s world-first digital settlements has revolutionised the way we exchange property in Australia.
By providing quicker access to the proceeds of a sale and near real-time tracking on property settlements, PEXA’s network of financial institutions and legal and conveyancing firms helps over 20,000 families a week safely settle their homes. PEXA exchange is available in New South Wales, Queensland, South Australia, Victoria, and Western Australia.
The PEXA platform provides industry reform by removing the cumbersome manual processes and paperwork associated with the exchange of property in Australia by allowing Land Registries, Financial Institutions and Practitioners to transact together.
Through ASL’s Exchange Settlement Account for Electronic Conveyancing, ASL can provide fast settlement of monies for PEXA property settlements. Funds are either credited or debited to Exchange Settlement accounts with corresponding transactions visible to member’s through ASL’s settlement platform.
This allows our members to provide fast access to cleared funds with electronic settlement and increase process efficiency and customer satisfaction by transacting electronically. Whilst also providing safe encrypted signing and funds exchanged via the RBA and efficient settlement with real-time lodgement of documents.
We consider our Customer’s as Members of ASL. As a Member, you also benefit from:
- Dedicated Account Management with access to a range of product, technical and operational resources. 24/7 monitoring and business continuity management.
- Best-in-class payment products to support your business with ongoing thought leadership and planning to ensure future products are available when your Customers need them.
- Payment experts available for consultation on your business and will represent your needs with key Suppliers, and industry regulators, associations.
- Member and Product onboarding are supported by a dedicated Implementation (Project Manager) so Members are supported at any point of these changes.
ASL have operated for over 20 years supporting Australian organisations and were the first non-bank to hold an Exchange Settlement Account (ESA). We are an approved deposit taking institution (ADI) and supervised by the Australian Prudential Regulation Authority (APRA).