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All explainersThe Upshot

One platform? Why e-conveyancing competition has stalled

Appears in Technology

Interoperability was meant to give conveyancers a choice of settlement platform. Here’s where it stands, in 60 seconds.

  1. Okay, so what is interoperability? It means rival e-conveyancing platforms can talk to each other, so conveyancers on different systems can settle the same deal. Think of mobile phone networks: you can call anyone, whoever your provider is.

  2. The story so far: PEXA handles the vast majority of electronic settlements. Sympli launched as a rival, but in March 2026 state ministers shelved the interoperability program because it lacked Commonwealth support. The ASX then sold its stake in Sympli to its joint-venture partner, ATI Group.

  3. Why it matters: Without competition, one company effectively controls the pipes for most of Australia’s property settlements. That affects fees, innovation and resilience. If that one system goes down, settlements stop.

  4. The arguments for and against: Supporters, including the Law Council, say competition lowers costs and drives innovation. Opponents point to cost, complexity and risk. The government’s own reports found that every model would be slow and expensive to deliver.

  5. How it could be resolved: Canberra’s involvement is the missing piece. Options include connecting the platforms directly, a “practitioner-first” model that lets conveyancers choose their platform, or tighter price regulation of PEXA, which NSW is already applying.

  6. What will bring it unstuck: The banks haven’t accepted Sympli workspaces for settlements. PEXA wants the costs it has already spent on interoperability recovered. Without lender buy-in, federal backing and agreement on who pays, any model risks stalling again.

  7. What’s next? Watch the Reserve Bank’s payments system review, where Sympli has made its case, any response from Canberra, and pricing decisions by NSW’s pricing regulator, IPART. For now, regulators are focused on tightening the rules rather than opening up competition.

The bottom line: Interoperability isn’t dead, but it’s parked, and the keys are in Canberra.

Sources: ARNECC, ASX, PEXA, Sympli, NSW Registrar General