Terravis enables electronic business transactions between land registries, notary's offices and banks
On January 23 2012 the Terravis electronic business transaction service between land registries, notary's offices and banks was launched in the Canton of Thurgau. Terravis facilitates secure and standardized communication for transactions including notarial registrations for creating paperless registered mortgage notes and the repayment of mortgage loans between banks. The exchange takes place seamlessly via a single interface. There is no comparable interdisciplinary solution in the world that is used between these stakeholders.
The electronic processing of transactions via Terravis stands out by relieving the administrative burden and reducing sources of error. This is supplemented by lower costs and swifter and more secure transaction processing. From the outset of implementation particular value was placed on data protection. Access to Terravis is only provided to parties entitled to this in accordance with legal provisions.
The productive pilot test is being carried out until the end of June 2012 with the following parties:
- Credit Suisse
- Kreuzlingen land registry
- Tägerwilen land registry
- Raiffeisenbank Regio Altnau
- Raiffeisenbank Tägerwilen
- Thurgauer Kantonalbank
Terravis is part of the eGRIS project and is being carried out under the supervision and with the approval of the Federal Office of Justice, the Cantons of Thurgau and Uri and the Swiss National Bank.
Terravis is Switzerland’s nationwide information portal for land information and is developing a platform for electronic business transactions between land registries, notary’s offices and banks. Terravis, a service of SIX Securities Services, originated from the eGRIS project in cooperation with the cantons and is being supervised by the Federal Office of Justice. www.terravis.ch.
SIX Group AG
SIX Securities Services is a subsidiary of SIX Group. SIX Group offers firstrate services worldwide in the fields of securities trading and settlement as well as financial information and payment transactions. www.six-group.com