PEXA Clear vs AML Simple — identity check vs full compliance program
PEXA Clear handles identity verification. AML Simple covers your whole AML/CTF program. Here is what each does, what each costs, and why most agencies will need both.
PEXA Clear vs AML Simple -- identity check vs full compliance program
If you have been researching AML/CTF compliance options for your agency, you have probably come across PEXA Clear. You may use PEXA for e-conveyancing already, so seeing PEXA Clear in your search results makes sense.
This post compares the two products factually -- what each covers, what each costs at realistic volumes, and how they relate to each other.
Short answer: they are not really competing. PEXA Clear is an identity check service. AML Simple is a compliance program platform. Most agencies that use PEXA Clear for identity verification still need a platform like AML Simple to meet their other AUSTRAC obligations.
What AUSTRAC actually requires
Under the AML/CTF Act from 1 July 2026, your agency must have:
- An AML/CTF program -- documented policies, procedures, and controls
- A risk assessment -- written analysis of your business's ML/TF/PF risks
- Staff training -- completed before 1 July and annually thereafter
- Customer due diligence (CDD) -- identity verification for every client before you broker their transaction
- Beneficial ownership checks -- for company and trust clients
- Sanctions screening -- against the DFAT consolidated list
- PEP screening -- for politically exposed persons
- SMR filing -- Suspicious Matter Reports within 3 business days of forming a suspicion
- TTR filing -- Threshold Transaction Reports for cash transactions of A$10,000 or more
- Record keeping -- all records for 7 years
- Annual Compliance Report -- lodged with AUSTRAC each year
Identity verification is obligation number four on an eleven-item list.
A tool that handles identity checks helps you with one obligation. Your agency still needs a way to meet the other ten.
What PEXA Clear does
PEXA Clear is a real-time identity verification service built on FrankieOne's technology. It is designed for use during property transactions -- typically at the conveyancing stage.
What PEXA Clear covers:
- Identity verification for individuals: document check with selfie-to-ID comparison
- Identity verification for businesses (company clients)
- Beneficial owner verification (additional cost per UBO)
- Sanctions and PEP screening integrated into the ID check
What PEXA Clear does not cover:
- AML/CTF program generation (no wizard or program document output)
- Staff training (available externally via REIQ, not built into the platform)
- TTR tracking
- Annual Compliance Report wizard
- Ongoing monitoring or re-screening alerts
Pricing (as publicly listed):
| Check type | Cost |
|---|---|
| Individual identity verification | A$40 per check |
| Business entity verification | A$65 per check |
| Additional beneficial owner (UBO) | A$10 per UBO |
PEXA Clear is priced per transaction, with no subscription or flat fee.
What AML Simple does
AML Simple is a compliance program platform built for small Australian real estate agencies.
What AML Simple covers:
- AML/CTF program wizard (generates your program document consistent with AUSTRAC's Program Starter Kit structure)
- Risk assessment (four-category: customers, services, delivery channels, geography)
- Staff training modules with quiz and completion certificates
- CDD workflows for individuals and companies
- DFAT sanctions screening (included in Foundation free tier)
- PEP and adverse media screening (included in paid tiers)
- Electronic ID verification via DVS (A$5 per check, paid tiers)
- SMR drafting assistant (AI-assisted, Professional and Agency tiers)
- TTR tracking
- 7-year record keeping
- Annual Compliance Report wizard
- Ongoing monitoring and re-screening (Professional and Agency tiers)
- Unlimited clients on all paid tiers
Pricing:
| Tier | Monthly cost | Who it suits |
|---|---|---|
| Foundation | Free (permanent) | Getting ready -- up to 5 clients |
| Starter | A$79/month | Solo agents, buyer's agents |
| Professional | A$149/month | Small agencies (2-10 staff) |
| Agency | A$299/month | Larger agencies (10+ staff, up to 3 offices) |
Electronic ID verification (eKYC via DVS) is A$5 per check on all paid tiers, with some included checks per month on Professional and Agency. DFAT sanctions screening is included. PEP screening is included in paid tiers (per check on Starter; monthly allocation on Professional and Agency).
Free until 1 July 2026: All paid tiers are free until the AUSTRAC deadline. You sign up, pick your tier, and pay nothing until 1 July.
Cost comparison at realistic volumes
Most small agencies verify 5 to 20 clients per month. Here is how the costs compare at each volume for identity verification only:
5 clients per month
| PEXA Clear | AML Simple (Starter) | |
|---|---|---|
| ID verification | A$200 (5 x A$40) | A$25 (5 x A$5 eKYC) |
| Platform fee | None | A$79/month |
| Total | A$200 | A$104 |
| AML/CTF program generator | No | Yes |
| Staff training (built-in) | Via REIQ (external) | Yes (basic) |
| TTR tracking | No | Yes |
10 clients per month
| PEXA Clear | AML Simple (Professional) | |
|---|---|---|
| ID verification | A$400 (10 x A$40) | A$0 (10 included eKYC checks) |
| Platform fee | None | A$149/month |
| Total | A$400 | A$149 |
| AML/CTF program generator | No | Yes |
| Staff training (built-in) | Via REIQ (external) | Yes (full, with team tracking) |
| SMR drafting (AI-assisted) | Guidance only | Yes (AI-assisted) |
20 clients per month
| PEXA Clear | AML Simple (Professional) | |
|---|---|---|
| ID verification | A$800 (20 x A$40) | A$50 (10 overage x A$5) |
| Platform fee | None | A$149/month |
| Total | A$800 | A$199 |
These comparisons cover identity verification costs only. PEXA Clear does not include a program generator, built-in staff training, TTR tracking, or an annual compliance report wizard -- obligations you would need to meet separately.
How the two products relate to each other
PEXA Clear and AML Simple are not directly competing for the same job.
PEXA Clear is a point-in-time identity check tool -- high-quality, built for the conveyancing context, with strong biometric verification (selfie-to-ID). If your agency already uses PEXA for settlement and wants identity checks integrated into that workflow, PEXA Clear may suit your CDD process.
AML Simple is the compliance program layer -- the platform that holds your risk assessment, staff training, SMR records, and 7-year document archive. It also does identity verification, but that is one feature among many.
An agency could use PEXA Clear for identity checks and AML Simple for everything else. The two are not mutually exclusive.
What an agency cannot do is use PEXA Clear alone and consider itself compliant. Identity verification is one obligation. Your AML/CTF program, risk assessment, training, and reporting obligations remain regardless of which tool you use for CDD.
Which one should you start with?
If you have not started your AML/CTF compliance preparation at all, start with the program. Your risk assessment, CDD procedures, and staff training need to be in place by 1 July 2026 -- regardless of which identity verification tool you end up using.
AML Simple's Foundation tier is free, no credit card required. The program wizard takes most agencies 20 to 40 minutes to complete. You can set up your agency's CDD workflows, run your first DFAT screening, and have your compliance records in one place before you make any decision about paid tiers.
From there, if PEXA Clear's identity verification fits your settlement workflow, you can use it for that step and rely on AML Simple for the rest of your obligations.
PEXA Clear pricing and feature information sourced from public listings and research current as at 31 March 2026. Verify current PEXA Clear features and pricing at pexaclear.com.au before making purchasing decisions. AML Simple is a compliance workflow tool and does not provide legal or compliance advice. Verify all regulatory claims with a qualified AML/CTF professional and AUSTRAC's published guidance.