Terravis business transaction service launched in Canton of Thurgau

Source: SIX Group

The Terravis electronic business transaction service has been launched in the Canton of Thurgau.

As part of a pilot project, real estate transactions between land registries, notary's offices and banks can for the first time be concluded via a single interface.

On January 23 2012 the Terravis electronic business transaction service between land registries, notary's offices and banks was launched in the Canton of Thur-gau. 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 solu-tion 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 Ter-ravis is only provided to parties entitled to this in accordance with legal provi-sions.

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 supervi-sion and with the approval of the Federal Office of Justice, the Cantons of Thur-gau and Uri and the Swiss National Bank. 

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