Data analytics and credit reporting company Veda has joined new Australian electronic conveyancing exchange, Pexa. As a Pexa sponsor, Veda will integrate Pexa into its product offerings, including the online portal VedaCheck. Lawyers and conveyancers using Veda will be able to manage every step of the conveyancing process through to settlement online. Access to Pexa through VedaCheck will start early in 2015. The new electronic exchange conveyancing exchange, Pexa, may launch an initial public offering and list on the Australian Securities Exchange, according to the Australian Financial Review. Pexa's chief executive, Marcus Price, said the company "should probably" be a listed company. He said the present owners, including state governments and private equity funds would be interested in going that way. The founder of Rams Home Loans, John Kinghorn, has succeeded in has bid to have a corruption finding against him overturned. Yesterday the New South Wales Supreme Court overturned a finding by the state's Independent Commission Against Corruption that he acted corruptly in a coal deal with former state Labor minister Eddie Obeid. The court rejected similar appeals by Kinghorn's associates. Fairfax Media reported that the Australian Federal Police tapped Kinghorn's phone as part of a tax office investigation into the sale of Rams into the listed company RHG in 2007. The phone taps played a big part in the ICAC investigation into the coal deal. Moody's Investor's Service has downgraded the long-term debt and deposit ratings of Deutsche Bank AG from A2 to A3. Moody's cited the bank's modest profitability, which is being dragged down by litigation and restructuring costs, as well as higher earnings volatility, as reasons for the downgrade.