Infotrack, ASX find property exchange Sympli irresistible


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The long awaited new operator in the $200 million a year electronic property settlement market plans to target a broad base of customers across the legal, banking and conveyancing industries.


Firing a shot across the bows of monopoly platform Property Exchange Australia (PEXA), Sympli’s backers say it will pitch its service on more reliable delivery, rather than waiting for the market to expand when key states make digital settlements compulsory.


Stephen Wood, executive chair of InfoTrack and Colin Porter, CEO of CreditorWatch.

Stephen Wood, executive chair of InfoTrack and Colin Porter, CEO of CreditorWatch.


Photo: James Brickwood

“The whole market is up for grabs,’’ says chairman Stephen Wood. “There is no aspect of the market that isn’t open for choice once we are in the market.”


Announced on Thursday, Sympli is an equal joint venture between the ASX and Australian Technology Innovators, parent company of property data provider Infotrack.


The parties expect to invest $30 million each into the venture between now and 2020, with expected break even in 2021.


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