Customer Update – ARNECC Statement on Interoperability

Earlier today, ARNECC released its statement confirming it will not proceed with the Interoperability Program at this time, following the recent Ministerial Forum on the future of competition reforms in eConveyancing. 

ARNECC’s statement confirms the findings of the recently published independent reports (the Cost Benefit Analysis and Functional Requirements Review) that continuing the Interoperability program in any form posed an unacceptable level of risk to the stability of the existing network. The reports were clear – interoperability programs were highly likely to increase costs, diminish the customer experience, and impede innovation, with no certainty of improved competitive benefits. 

While we were a willing participant in the Interoperability program until it was paused, it had become clear that pursuing it was not in the best interests of customers or Australian home buyers and sellers, and these reports validated that view.  

The current network is price-regulated, performance-regulated, and designated as national critical infrastructure – a responsibility we take very seriously.  

Our focus now is ensuring the customer remains at the heart of everything we do. To that end we look forward to working constructively with ARNECC, regulators and industry participants to further enhance the regulatory environment in which we operate.  

This is with a view to establishing national consistency and drive improved customer and consumer outcomes, while maintaining the integrity, security and reliability of the PEXA Exchange.