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GlobalX launches Verification of Identity (VOI) Solutions in Readiness for Electronic Conveyancing Boom

GlobalX Legal Solutions today announced two significant partnerships to ensure that conveyancers and lawyers throughout Australia have instant access to verification of identity (VOI) solutions via integrated software solutions.

GlobalX has partnered with IDSecure to satisfy requirements for face-to-face VOI, and greenID to answer the need for online services required of practitioners and their clients prior to completing a settlement online, via the PEXA platform.

“Both IDSecure and greenID are innovative leaders in their field; they are specialists in the services required to qualify parties prior to settling property in the emerging electronic format,” said Chief Executive Officer of GlobalX Legal Solutions, Peter Maloney.

The partnership offers GlobalX customers Verification of Identity (VOI) services that match the varied circumstances of conveyancers, lawyers and consumers.

Leveraging its national network, GlobalX is now the first PEXA Sponsor to offer a national, over-the-counter VOI service to home buyers from its Sydney, Melbourne, Brisbane, Gold Coast, Perth and Adelaide offices.

“Every State and Territory is moving to align the VOI requirements for traditional, paper-based transactions with the new requirements of electronic transactions within PEXA,” said Maloney.

“We have a national network of offices, combined with the skills and expertise required to deliver on this important industry change. Only yesterday, the Victorian Registrar announced that the VOI Requirements for paper conveyancing will take effect from Monday 9 November 2015.”

GlobalX is complementing over-the-counter VOI services with the IDSecure come-to-you offering.

“If your client lives a significant distance from a conveyancer, or a GlobalX office, IDSecure has an extensive network of fully trained, qualified and professional agents that can conduct the interview on behalf of a conveyancer or lawyer,” said Managing Director of IDSecure, Mark Paholski.

“We’re very excited about the partnership with GlobalX; both GlobalX and IDSecure are very well aligned on our mission to offer practitioners and their clients with the highest standard of electronic conveyancing-related services and support,” said Paholski.

“With GlobalX, the VOI report and data file is instantaneously uploaded to the practitioner’s matter record; and we will also enable customers to access the Attorney-General’s Department, Document Verification Service (DVS) via greenID to offer them further peace of mind,” he said.

greenID offers Australia’s market-leading online identity verification services, verifying the identity of millions of Australians every year.

“Selecting to partner with greenID was a natural choice for GlobalX; there are more DVS transactions going through greenID everyday than any other service provider in Australia, and their expertise in anti-money laundering, ‘know your customer’ fraud prevention and identity verification will be a major boom for all lawyers and conveyancers around Australia,” said Maloney.

“We support major banks, credit unions, superfunds and government agencies, and GlobalX is a terrific vehicle for greenID to expand further into property and legal services industries,” said Chief Executive Officer of greenID, Jim Smith.

“Everyday lawyers are challenged to meet government regulatory compliance standards of Know Your Customer, Anti-Money Laundering, Counter-Terrorism Funding, and other industry and in-country laws. greenID and GlobalX will assist lawyers in overall risk mitigation and fraud prevention services.”

“We’ve been very impressed with the team at GlobalX and their thirst to deliver the conveyancing and legal industry innovative solutions,” he said.

The partnership with IDSecure and greenID enables GlobalX to offer an online, local and regionalised solution to customers.

“This enables firms in cities, suburbs and regional areas to book quality, on-site VOI services for their clients, and to take advantage of all the benefits of electronic conveyancing,” said Chief Executive Officer of GlobalX, Peter Maloney.

The announcement comes as electronic conveyancing gains traction, with early adopters starting to use the system to realise time and cost efficiencies and comes on the back of GlobalX winning an ABA100 Award for Innovation last month for its work as a sponsor of PEXA and electronic conveyancing in Australia. Within 5 years, PEXA estimates more than 80 percent of settlements will be performed electronically, dramatically reducing the rate of 1-in-5 failed or delayed settlements currently attributed to today’s manual paper-based settlement process.

GlobalX are involved in a series of PEXA-Ready Workshops in October to provide lawyers and conveyancers with change management tools in the lead up to the digital change represented by the introduction of PEXA in Australia, and the IDSecure and greenID solutions will be on display at these key events.