IPEX is a revolutionary Australian payments platform for protecting the cashflow of construction projects. Backed by founders with over 70 years of construction experience, the new buildtech payment exchange is designed to create real change in the construction industry by creating a streamlined and transparent payment process that will protect the whole supply chain.
IPEX has a simple and powerful software layer that integrates with a dedicated project account. The software ensures that the project funds can only get distributed to the project supply chain and verified with an onboarding process.
Project funds are added to the IPEX platform by the principal and financier. These funds are held in secure trusted accounts until they need to be distributed.
The platform stores data securely to ensure transparent and verifiable record for when projects don’t go to plan. This means only the verified subcontractors and suppliers can be paid.
IPEX works with the builder onboarding the project subcontractors, specifically linking them to that site. The builder can only pay those subcontractors who have been onboarded. There is no opportunity to indiscriminately use funds to pay workers or third parties who are not part of the official project team.
Subcontractors and suppliers receive funds into their accounts instantly, with a notification automatically sent to them.
The project supply chain can confidently expect to have a streamlined flow of project funds that resolves cashflow issues.
- Project funds are secure in a Project Account
- Retention money secure in separate Project Account
- Mobile app to keep track of subcontractor payments and retention balance
- Peace of mind knowing money is secure
- Payments made instantly through Australia’s New Payment Platform
- No change to subcontractors and supplier’s current business processes.