LEGAL TECH INNOVATOR WINS NATIONAL AWARD

A BRISBANE-based legal solutions provider has received national acclaim for its hand in pioneering the digital age of conveyancing and property services within Australian practice.

GlobalX Legal Solutions has been awarded the Australian Business Awards ABA100 Innovation prize for contributions to electronic conveyancing, notably through development of its sponsored property exchange platform PEXA.

CEO Peter Maloney (pictured) says GlobalX has invested more than 7200 people-hours in product research and development to prepare the PEXA system for a successful transition into mainstream practitioner use.

"The Australian Business Awards is associated with well-managed, high-performing and industry-leading initiatives, so it is an absolute honour to have GlobalX Legal Solutions selected as a winner of the Innovation Award," says Maloney.

"Our work with Property Exchange Australia and the PEXA platform will revolutionise the way the property industry operates by bringing the process online, making it easier and more accurate for lawyers, settlement agents and home owners."

PEXA is a system that is focused on the electronic performance of a property settlement, both digitally and manually depending upon the preference of the user.

According to a GlobalX survey of 500 practitioners, 60 per cent say they intend to implement PEXA within the next two years, an indication of the system's popularity within the market.

"The knock-on effect of our work will not only future-proof our clients' business and maximise the availability of PEXA to market, but it will revolutionise the property industry and make the purchasing process a much less stressful event for the home buyer," says Maloney.

GlobalX employs 230 staff around the country and for the past 20 years has been viewed as an innovator within a traditionally mature market.