rPPSR Changes - Introduction
The existing PPSR in New Zealand is being replaced with a new system, the rPPSR (Replacement PPSR), and is due to go live on 2nd July 2018.
This move is being driven by the Ministry of Business Innovation and Enterprise (MBIE) and is designed to replace the reliable but aging platform that, whilst world leading when it was released in 2002, has increased risks and costs associated with ageing technology.
Here, at Intersoft Systems, we have been working towards this change for the last 12 months, and are committed to developing a state of the art interface to the rPPSR.
In this first Blog article, we will introduce some of the changes made to the rPPSR.
Whilst the underlying legal requirements and therefore how the PPSR works is little changed, the underlying technology platform has been significantly upgraded.
Having said that some changes to the PPSR have been made:
- New Zealand Business Numbers (NZBN) must now be used.
- For more information see https://www.nzbn.govt.nz/.
- finPOWER Connect has supported NZBNs since 2014 (version 2.0.2).
- There is a tool to update Client Company Numbers to NZBNs - talk to your Dealer for more information.
- Addresses can be defined using a NZ Post DPID.
- For more information see https://www.nzpost.co.nz/business/sending-within-nz/quality-addressing/postal-address-file-paf.
- finPOWER Connect has always supported DPIDs via the Addressing Interface Add-On.
The PPSR G2B interface will change to a REST based set of web services or APIs.
- Importantly the way finPOWER Connect authenticates is quite different.
- There will no longer be the need to download and install G2B certificates each year.
- Instead, the User authentication model relies on a RealMe Identity for access to both the PPSR website and the new REST based API.
- For more information see https://www.govt.nz/browse/nz-passports-and-citizenship/proving-and-protecting-your-identity/what-is-realme/.
- Note, this the same authentication model as the NZBN interface, so you may already be familiar with it.
In addition the PPSR website will been updated.
finPOWER Connect is currently being upgraded to support the new rPPSR - and given its been 15 years since it was originally written it was time to revamp several parts of this interface.
In addition, there are new functions the rPPSR can provide, and so some of these are also exploited in finPOWER Connect. For example, there is now a comprehensive Secured Party Group Report to compare your Financing Statements to those recorded in the PPSR.