We know that change can sometimes be a difficult thing to embrace, and the more prepared you are, the higher the likelihood of you feeling comfortable with a new process. Therefore, when your firm decides to embark on the digital settlement journey with PEXA, it’s important that it is set up for success. Done correctly, your firm will be more able to smoothly adapt to changes that come with adopting a new process. Below, you’ll find a handy guide to help those new to PEXA that experts may also refer to as a checkpoint.
1. Setting up user profiles
- The first and only user PEXA will set up for your organisation’s profile is a Subscriber Manager. Subscriber Managers have the highest level of access in PEXA, and the Participation Agreement provides that every Subscriber must have at least one.
- There are two other user types in PEXA – 1) Subscriber Administrators, who have certain administrative rights below the Subscriber Manager, e.g. can add or remove Users; and 2) Users/Signers – the latter having signing rights. Access more information here about these user types. These will be set up by the Subscriber Manager.
- When a User first accesses PEXA, they will be required to set up both their password (we recommend a minimum of ten characters, and a mix of upper and lower case letters, numbers, and special characters) and two security questions. These security questions will be used by our Member Support Team to authenticate users when they call requesting assistance. It is important that neither one’s password nor the answers to their security questions are shared.
- Every person in an organisation who is required to access PEXA must do so via their own User profile. Sharing of User profiles is prohibited by the e-conveyancing legal framework.
- Unless an exemption applies, only ‘natural persons’ may have a User profile, which means that teams, divisions, and those who ‘job share’ cannot share a User profile.
- Note that Users must regularly log in to PEXA to maintain their profiles. Users who do not log in to PEXA for 100 days will be considered ‘inactive,’ and will have their profiles suspended. Should this occur, Subscriber Managers may reinstate their access. Access frequently asked questions on inactive Users here.
2. Securing your access with Multi-Factor Authentication
- Following the establishment of their profile, a User will be required to set up multi-factor authentication (MFA) using their mobile phone. Further information about MFA can be found here.
- When logging in to PEXA, Users will be required to enter a one-time passcode following their password. This password can be received via SMS or a smartphone app.
- For Users who intend on accessing PEXA via multiple devices (for example, both an office and home computer), or will be using PEXA whilst abroad, it may be preferable to use the smartphone app. More information here.
3. Digital Certificates
- A firm can have as many Signers as required, subject to regulatory requirements and the firm’s internal policies.
- Every User who has authority to sign in PEXA must have their own Digital Certificate and PIN. Sharing of Digital Certificates is prohibited by the e-conveyancing legal framework.
- The following signing activities occur in PEXA, and should be considered when planning who in an organisation requires a Digital Certificate (ensuring that there are a sufficient number of persons with signing capability in place for employee leave, etc) –
- Signing of land registry instruments – this permission should only be assigned to people who are permitted to sign land registry instruments (please note, each jurisdiction has different rules governing this, more information here)
- Signing of the Financial Settlement Schedule (by all parties/Subscribers to the transaction)
- Authorising the use of trust money – this permission may only be assigned to someone who is on record with a Subscriber’s bank as being a trust signatory, and their name in PEXA must perfectly match the name recorded by the bank
- Activating new Users after they have been created
- Authorising corrective payments, in circumstances where incorrect account information has been entered into PEXA and a settlement payment rejected
4. Standard Operating Environment
- Information about minimum system requirements and supported browsers may be found in PEXA’s standard operating environment here.
- For the best and most effective access to PEXA, it is recommended these requirements be followed.
