The property settlement business looks promising. Electronic...

The property settlement business looks promising. Electronic conveyancing will reduce the cost of transactions and pass on some of that to service providers providing the automation. SAI are well placed being able to transition to a fully automated model while still servicing the needs of the current majority of manual transactions. They have applied to be an ELNO (electronic lodgement network operator). According to the company that could be a month or a few months away, fairly near term anyway. Currently they can do electronic transactions through PEXA who are the only accredited ELNO atm. PEXA is the upstart but they are hamstrung by the fact they can't offer an end to end service with most still on manual processes. PEXA are looking to float, some figures reported of valuations of $550M-$1B seem fanciful when SAI have the current market and will have the same capability shortly. SAI should cream them when the are up and running as a ELNO, later down the track PEXA would compete on a more even footing when the whole market is digital. Still SAI preferred in my view.
I don't see SAI getting much cheaper, while I don't see it jumping up to high levels in the short term it should be a good stock for the future being in the growth industries.