Veda announced the formalization of their agreement with Property Exchange Australia Limited (PEXA Ltd).  As a ‘Sponsor’, Veda will integrate PEXA into its existing product offering, providing seamless access for lawyers and conveyancers through its online portal, VedaCheck.

CaesarThe move to electronic settlement is a transformational event for residential property in Australia. Veda has invested in solutions for the mortgage industry over many years. We are very involved supporting our customers across the mortgage value chain from customer identification, and credit checking, through to providing Land Titles and other information to support property settlement activities.  We are pleased to be adding PEXA connectivity to our existing capabilities, that will deliver significant time and cost efficiencies providing for an improved overall experience for our customers,” said Veda CEO, Nerida Caesar.

Marcus Price, PEXA CEO says “I would like to welcome Veda to PEXA and I am excited about working together in bringing the property conveyancing process into the digital age.  “Veda is a major industry player who has for many years supported banks, lawyers and conveyancers. Their support demonstrates that industry is backing the PEXA platform because it works – for them – and for their customers.”

The integration of PEXA into VedaCheck will provide the greatest benefit to Australia’s lawyers and conveyancers by allowing data to be transmitted between applications. From the original title search, right through to lodgement and financial settlement, every step in the conveyancing process will be able to be managed online.

Accessing PEXA through VedaCheck will be possible from early 2015.

“This agreement formalises what has proven to be a great working relationship between Veda and PEXA over the past 12 months. We look forward to continuing to support the innovation that will transform property settlement in Australia,” concludes Caesar.

Source:  Veda