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Message from the CEO
It has been a hectic few months at LIXI, with a number of standards and communication initiatives taking place.
One of the major initiatives is the imminent launch of the new LIXI website . The new website has been developed taking into consideration member feedback regarding functionality and usability of the site.
The new-look website incorporates a simpler structure for accessing information, as well as direct access to the current standards, reference material and documentation. Members will be receiving an email shortly with login details.
This LIXI @ Work edition is being distributed from the new website, so the newsletter format is one of the visible changes.
A highlight of the home page is a "what are people saying about standards" section, with links to interesting or provocative topics in the standards space. This provides an opportunity for us all to raise the awareness of the contribution that standards make in the industry. Please feel free to email us with links that you think others might be interested in.
Erik Fenna, CEO.
erik.fenna@lixi.org.au
LIXI Evening Series - May & June 2009
LIXI held an Evening series in May at CBA Melbourne and another in Sydney in June at Perpetual. Both events were well attended, with the central discussion focused on settlement transactions and data standards and how they can drive efficiency improvements in the lending industry.
From LIXI’s perspective it was particularly pleasing to see industry commitment to solving settlements issues, increasing the benefits of straight-through processing, and improving efficiency. The discussion papers are available on the new website.
LIXI White Paper
LIXI has commissioned a second white paper on efficiency in the lending industry. This research paper investigates the costs of settlement and the benefits that electronic integration will bring.
The paper will be presented at the 2009 Annual LIXI Forum, however preliminary indications are that there are tens of millions of dollars in annual efficiency savings on the table - a strong motivation for driving STP farther down the lending chain!
2009 LIXI Annual Forum
Speaking of the Forum, this year's Forum – on "Cooperation and Integration" – is being held on September 9 at the Westin Hotel in Sydney. It comes at a time when the benefits of efficiency through the mortgage supply chain are now more pronounced than ever.
The mortgage industry faces more challenges and opportunities than at any time in the last 10 years. For example, the major banks are facing constant challenges dealing with the increased volume due to the changing property and mortgage landscape.
The Forum is an all day event featuring topics on innovation in core banking systems and mortgage processing, and cooperation across the lending supply chain. The day ends with drinks from 5.30pm which is a valuable opportunity for all attendees to network and discuss the outcome of the sessions.
We are looking forward to another fantastic event coordinated by our event partners InAssociation.
Please ensure you have 9 September marked in your calendar, and if you haven’t already registered, please do so by clicking here.
Congratulations
The board and executive management of LIXI would like to extend our most sincere congratulations to Joe Sirianni on his election as the President of the MFAA, commencing in November. Joe is a director of Smartline and a former director of LIXI. He was instrumental in bringing ANZ on board as the first bank with an electronic presence on the major aggregators technology platforms. Joe remains a passionate supporter of LIXI and electronic integration and we look forward to his future contributions to the mortgage lending industry.
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Update on NECS
Significant progress is being made on the development of the National Electronic Conveyancing System (NECS). It is anticipated that the requirements for NECS will be finalized by the end of the year at which time the work of setting up and commissioning NECS can commence. The process for developing requirements has involved extensive consultation with stakeholders across industry and government sectors and detailed advice from relevant experts. Armed with these tools, the NECS consultative groups have managed to refine the requirements to ensure that they meet industry needs.
One current piece of work is the development of a single controlled vocabulary for NECS use as an essential step in developing useable and useful data standards NECS. Several jurisdictions are developing controlled vocabularies to suit local needs, NECS is preparing an aggregated vocabulary that will constitute an interchange format. An draft vocabulary document is being developed based on the National Dealing Data Transfer Standard, the LIXI vocabulary and available jurisdiction Vocabularies. This work is being undertaken by a small group from NT, WA and NSW led by Barry Thomas. This document will soon be completed and will be used as a starting point for the NECDS Working Group which will recommence work shortly.
Workshops explaining NECS are currently in progress. There have already been highly successful ones run in Melbourne and Sydney. Others are planned for Brisbane, Adelaide, Perth and Hobart. It is likely that they will also be run in Canberra and Darwin. When the workshops are completed detailed papers and the presentation will be made available on the NECS website – www.necs.gov.au. Information about the workshops can be obtained by emailing info@necs.gov.au or phoning (03) 8626 4545.
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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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