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In this issue ....
* Updated Standards Released
* Update on NECS – Draft Standards Released
* CAL 2 Discussion
* LIXI Glossary Project
* Evening Series
* Address Validation
* LIXI on Linked In
Message from the CEO
LIXI Working Groups are the pointy end of the cooperative process, where groups come together to discuss specific industry issues, collect the requirements and determine solutions. Working Groups can be formed at any time by any members with an interest in a specific topic or issue. Core issues of course relate to data transactions, and a number of working groups have been busy over the past several months. We are pleased to report that four updated standards have been released, and are available to all members on the LIXI website at http://lixi.org.au/about-standards.
We are also working with ASIC to determine how LIXI members’ requirements for data messages in support of the NCCP credit assistance provider licensing regime can be supported by ASIC. This is an exciting opportunity to contribute to efficient utilisation within the regulation.
Erik Fenna, CEO.
erik.fenna@lixi.org.au
Updated Standards Released
Valuations: Numerous changes requested by the Valuations community have been incorporated into an updated standard and the schema has been released in conjunction with comprehensive Release Notes.
Commissions: an updated Commissions schema has been released, primarily to support name-value pairs that allow lenders to describe their specific commission structures.
CAL Applications: The data standards for the mortgage application process now permit the inclusion of supporting documentation embedded within or directed linked from the electronic application. CAL 1.5 also removes the schema-validation of street types, permitting any text string to be transmitted without a schema validation error. However validation of street type is important, so LIXI presents a proposed solution. The industry standard for portable business rules is something called Schematron, and LIXI has developed a prototype using Schematron business rule validation and a web-accessible street type list in XML. This is documented in the release notes LIXI CAL 1.5 Schema Changes.pdf on the LIXI website.
Backchannel Status Messaging: In an analogous manner to the CAL 1.5 supporting document attachment support, backchannel messages have been updated to support attached documents. This is intended for lenders to send documents or links to documents back to the broker along with the status messages.
Update on NECS – Draft Standards Released
TThe first set of requirements documents, for the NECS-to-Land Registry transactions, has been released in draft by the LIXI NECS data standards working group, along with a vocabulary of terms associated with the documents. The remaining requirements documents for the Industry-to-NECS transactions are expected to be released shortly. The documents can be reviewed on Pageseeder and feedback is always welcome. The process for developing the requirements has involved extensive consultation with stakeholders across industry and government sectors and detailed advice from relevant experts.
LIXI and NECS will welcome feedback and contributions from all LIXI members as part of the requirements development process. The documents are available for review on the LIXI website at http://lixi.org.au/LIXI_NECS_DS_WG , and the glossary can be reviewed at http://wiki.lixi.org.au/index.php/NECS_Vocab
The first draft transaction standards will be developed by LIXI and the LIXI NECS data standards working group in the first quarter of 2010.
Workshops around the country throughout 2009 explaining NECS have been highly successful. Detailed papers and the presentation are available on the NECS website – www.necs.gov.au. Information about NECS can be obtained by emailing info@necs.gov.au or phoning (03) 8626 4545.
CAL 2 Discussion
A number of LIXI members have flagged the need for a broad discussion of issues around compatibility, certification, version management, component reuse, time-to-market for electronic services, time-to-market for changes to business rules, the restrictions of enumerated lists, and a desire for more flexible business processes.
In effect, to follow how the business of lending has changed since LIXI CAL was developed in 2001, the members have asked for a way to open up the current architecture of the data standards to meet these changing needs.
This discussion is loosely being labelled as CAL 2 although the name is not meant to imply a restriction to a specific new version of a CAL schema. LIXI will welcome all members to contribute to the discussion, please contact us on admin@lixi.org.au to be included in the mailing list.
LIXI Glossary Project
As part of the NECS data standards requirements gathering and schema development process, substantial work was invested in documenting the definition of terms used in the documents. The terms and definitions have subsequently been loaded onto a web page for ease-of-review and are now visible for all LIXI members at http://wiki.lixi.org.au/index.php/NECS_Vocab. This work is continuing as a way of documenting the terms and definitions used more broadly within LIXI and well as specifically within the LIXI Credit Application Language CAL. We welcome feedback, and look forward to expanding the catalog of terms and definitions to support ongoing standards development work.
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Upcoming Events
The 2010 4th Annual LIXI Forum is tentatively scheduled for 4 Nov at the Westin Hotel, Sydney. All enquiries regarding sponsorship, advertising, organisation and the agenda can be directed to the event organiser, Andrew Stabback of InAssociation at astabback@inassociation.com.au
Evening Series on Incremental Value from the Land Titles Office
The LIXI Evening Series event on Bridging the Gap to Electronic Conveyancing with "Incremental Value" - How the NSW Land Registry Transaction Services can improve efficiency in conveyancing was held in Sydney on March 30th and was very well attended by industry representatives. The focus of the presentation was on the value that will be delivered to industry during the initial phases of NECS implementation as it takes shape.
In 2009, LIXI held some Evening Series events to ensure that broad industry input was available to the NECS requirements group and the Land Registries. LIXI had been approached by several industry participants to use our collaborative and consultative member process to determine how and whether business driven, industry solutions in settlement can be identified and implemented.
Chris White of the NSW Land and Property Management Authority (LPMA) presented the titles office view of how the LPMA will meet the requirements from NECS and industry on electronic integration and automation. The LPMA has proposed that a number of services be available as soon as possible, including title search information, title activity check, and lodgement verification. This is the “incremental value” that industry is looking for. Each of these would be delivered via the industry standard data transactions that LIXI is developing for the NECS transactions. These proposals are detailed in an LPMA consultation paper ‘Land Registry transaction services for conveyancing’ available at http://necsnsw.lands.nsw.gov.au/publications
The presentation was very well received, industry representatives welcomed the NSW initiatives and the robust discussions that followed made it clear that as long as the LPMA proposal were part of a consistent and standardised national agenda – which it is - then take-up of the services would progress rapidly.
The next steps involve a number of facets. The LIXI NECS data standards working group is always happy to take feedback of course, and the LPMA is also very open to industry discussions. In particular the LPMA has some discussion documents available on their website. LIXI will also review the proposals in detail to ensure that the data standards are well suited to the requirements. And overall we look forward to the development of the capability for and delivery of these services over the coming months.
LIXI would like to take this opportunity to thank Chris White and the LPMA for taking this initiative and for hosting the event for LIXI members.
LIXI on Linked In
As a member based organisation within the lending industry, one of LIXI’s main aims is to enable the lending community to discuss and collaborate on non competitive issues related to efficiencies and customer service. In order for this to occur LIXI can facilitate conversations between our members on the issues that are relevant to them. LIXI members with LinkedIn profiles have initiated the LIXI Members group on Linked In to provide one such forum, and we want to hear from you, so start or join a conversation by searching for LIXI Members in the LinkedIn Groups.
Address Validation
LIXI is working with Veda to provide an online address validation tool, taking in any formatted or unformatted address, validating the street type, actual address, suburb, state and postcode, and returning a formatted address.
The benefits of this are many, including easier data entry from clients or advisers and greater accuracy and efficiency throughout the mortgage assessment and settlement processes.
LIXI members will be kept informed as this initiative is developed.
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LIXI welcomes sponsors for all events. These events are attended by an audience with a specific interest in the presentations and hence they are the perfect forum to reach with a targeted marketing message.
Promotional opportunities of various kinds are available, please contact marketing@lixi.org.au to get further details.
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