Put simply, online conveyancing is very secure.
The most critical part of any conveyance is the settlement. This is where all parties involved in the transaction (buyer, seller, banks) come together to transfer money, and exchange legal title to the property. In other words, this is where most of the really important stuff happens and, naturally, where you’d want the most security of all.
We conduct our settlements online through Australia’s leading ELNO (Electronic Lodgement Network Operator), PEXA.
PEXA uses industry best practice and standards for protecting information and cyber security. This includes things like:
Secure encryption protocols to protect the confidentiality and integrity of data exchanged during settlement.
Authentication security (such as multi-factor authentication) to verify the identities of users participating in the settlement.
Secure payment gateways to add additional protection when transferring money between financial institutions.