About Morri

I have spoken to a lot of people over the last week, both banks and practitioners, and there seems to be different interpretations of what this tick box means. (example highlighted below)   Some banks have said that they only tick this box when all documents are held and are correct. Some tick the box as soon as the documents are held - before they are checked. Some banks don't even use it.   I am asking for feedback on what everyone wants this tick box to mean, when it gets used, and whether the wording needs to be tweaked slightly to make it clear.   My current view is that we should tick the box when all loan docs are held, checked and correct: effectively the same as getting a 'Ready to Book' advice in the paper world.   Would appreciate any other opinions.   Regards Dave   ... View more

This morning I was privileged to be able to attend a breakfast with some of the Settlement Agent community in Bunbury, WA. It was fantastic to hear the open sharing of ideas on how to best use PEXA, and to hear some of the challenges that we as a bank can help address.   Big thanks to Leisa from Norm Hart Settlements for arranging things and to Ryan from PEXA for making the trip down from Perth in what has been some pretty wild weather.   A fantastic group of professionals that are clearly passionate about driving their industry forward.   Well done to everyone. Dave Morrissey   @RyanC  @Leisa ... View more

Hi Community,   In early March Bankwest's CIO Sean Langton gave a keynote address looking at emerging technology to members of the WA property industry at a development event billed as 'Your Industry - Your Future' The financial institutions panel which was held at the event provided an opportunity for Bankwest to gain valuable feedback from our stakeholders in attendance, over and above that already discussed at the third industry symposium the previous day. The open communication channels established have been helpful in shaping the way we approach our process and we continue to welcome feedback to further improve the experience for our mutual customers.   We’re evolving and improving our digital offering to customers and stakeholders by embracing emerging technologies that are increasingly influencing how customers want to interact with us. We firmly believe the move to a digital settlement paradigm will deliver greater certainty to customers and ultimately deliver a faster and more secure method of transacting property. We will however need to all work together to make this a reality. Business leaders need to adapt quickly to changing customer needs, embrace new technologies and adapt to new ways of working in today’s digital economy. Just like a football team that needs a solid hit out in the pre-season competition to prepare for the real season, we are confident that we have done the hard work to hit the ground running when the ball bounces for the first of May mandates in WA.     David Morrissey  Executive Manager Digital Operations Strategy WA  Digital Operations Innovation I Group Operations ... View more

After a period of investigation and testing the availability of Bankwest Trust Accounts has now been expanded from the initial pilot group. Registration of a trust account in PEXA is now available to all customers.   Existing users would be aware that under the current payments model the time taken for the PEXA deal status to move from 'settling' to 'settled' may exceed 30 minutes, rather than the less than 10 minutes experienced when the Bankwest account is not used.  To rectify this processing delay the Bank is actively working to move all our PEXA payments to the New Payments Platform (NPP) infrastructure. This move will deliver the smoothest settlement experience and will be fully completed before the end of 2018.   Until these changes have been made to the payments system, to assist in providing the best possible outcome for all parties and to allow for payment processing, it is recommended that settlements should not be booked after 1500 WST.   We’re evolving and improving our digital offering to customers by embracing emerging technologies that are increasingly influencing how customers want to interact with us. The expansion of the service and the subsequent increase in transaction volume will be closely monitored, and your assistance is greatly appreciated.   David Morrissey Executive Manager Digital Operations Strategy WA Digital Operations Innovation I Group Operations   ... View more