NECSpress Issue 19 - 16 May 2007 - National Electronic Conveyancing System

Welcome to NECSpress, the e-newsletter for the National Electronic Conveyancing System.

In this edition:

Development of National Data Standards Commences

State Project Team gets ready for NECS

DEVELOPMENT OF NATIONAL DATA STANDARDS COMMENCES

The National Electronic Conveyancing Office has entered into an agreement with standards body Lending Industry XML Initiative (LIXI) to create common data standards for the National Electronic Conveyancing System (NECS).

LIXI is a non-profit, independent industry organisation established in 2000 to develop e-Commerce standards. LIXI has more than 85 members, including banks, non-bank lenders, broker groups, mortgage aggregators, mortgage insurers, valuers, solicitors and settlement agents. It is owned, managed and run by its members. The National Electronic Conveyancing Office is now a member of LIXI. Each state and territory is also entitled under the agreement to become a member.

LIXI has developed practical standards that have been implemented across the lending industry. These standards are involved in the processing of thousands of home loans every week. It is logical that the data standards developed for electronic conveyancing will grow from the lending industry standards.

The agreement that the National Office has negotiated with LIXI is unique in that it provides for a NECS Data Standards Management Group. The National Office will appoint the representatives in this group from the jurisdictions. This group will control the project scope, the working groups and the approval of the resultant standards.

We envisage that the Management Group will commence shortly to define the project and appoint the working groups.

STATE PROJECT TEAM GETS READY FOR NECS

The State Project Team (SPT) met in Adelaide on 08 May 2007. In view of the decisions of the National Steering Committee at its last meeting which was reported in the last NECSpress, the focus is now more on the implementation of NECS.

It is essential for the successful take up of NECS that the jurisdictions’ systems are ready to access the NECS. The SPT was implemented to provide a forum for discussion on issues relating to specific jurisdictional requirements for the NECS.

As NECS is now moving into a new phase, the SPT needed to reassess its role. The meeting concentrated on developing processes for resolving several issues. The key function of the SPT is assisting in the task of jurisdiction readiness for NECS. The members of the group can provide assistance to each other in the key areas of development for each jurisdiction including such matters as defining jurisdictional requirements, considering legal framework, technology and procedural issues.

Barry Thomas from LIXI gave a presentation to the meeting and outlined the LIXI process to develop NECS Data Standards.

The SPT also discussed several matters where it is hoped that a consistent national position can be developed. The meeting agreed on processes to consider whether a consistent approach could be found to some issues such as client authorisation and certification templates.

Want to know more?

Please check out the NECS website www.necs.gov.au or contact us at:
Level 2, 10-16 Queen St
Melbourne Vic 3000
Ph: 03 8626 4545
Fax: 03 8626 4546
Email: info@necs.gov.au

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