Business, Free News Articles

Ohio’s Largest Title Agent Selects SafeWire by SafeChain

COLUMBUS, Ohio -- SafeChain, the industry leader in wire fraud prevention software and blockchain implementation for land title, announced today that Ohio Real Title, the largest title agent in the state, has selected its technology solution, SafeWire(TM), to securely facilitate real estate wire transactions for the firm's eight offices throughout Ohio.

"Wire fraud is one of the biggest threats to the homebuying process today. We believe it's our job to protect consumers in what is one of the largest financial transactions they'll ever undertake," said Ryan Marrie, president of Ohio Real Title. "Partnering with SafeChain provides Ohio Real Title's real estate agent partners the confidence in knowing we care about their clients' funds from the minute they begin the homebuying process."

SafeWire protects real estate wire transactions by verifying the identity of both the buyer and seller and authenticating ownership of the accounts involved in the transaction. Backed by blockchain technology, SafeWire also provides a secure portal to transmit and store wiring instructions, ensuring that this information cannot be tampered with or intercepted by unauthorized parties. As an added layer of security, SafeChain is also integrating the national ALTA Registry into SafeWire so that lenders can verify the identity of title insurance agents and settlement companies involved in the transaction.

"According to the FBI, wire fraud attempts have increased more than 11,000 percent over the last two years. By using SafeWire, Ohio Real Title has demonstrated its commitment to combating this growing risk and safeguarding consumers' funds," said Tony Franco, CEO and co-founder of SafeChain. "Ohio Real Title is one of the more progressive title agents in the country, and as a fellow Ohio-based company, SafeChain is especially eager to help our state's largest title agent neutralize this threat for homebuyers in our own backyard."

About Ohio Real Title:

Ohio Real Title was founded in 2005 and is an independent title agent servicing all of Ohio. With more than 100 employees and eight offices, Ohio Real Title processes more purchase transactions than any other independent title agent in Ohio. For more information visit: http://www.ohiorealtitle.com.

About SafeChain:

SafeChain makes real estate transactions safer and modernizes operations for both the public and private sectors of the land title industry. Built by real estate title experts in collaboration with banking technologists, SafeChain tackles the inefficiencies of the home buying and selling process from the inside-out to help title companies, mortgage bankers, realtors and local governments decrease costs and deliver a better experience for customers.

Leveraging the most advanced technologies, including blockchain, SafeChain increases the speed and security of real estate closings to deliver faster transactions and better consumer confidence. For more information visit: https://www.safechain.io/.

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Business, Free News Articles, Real Estate, Software

SafeChain Adds Blockchain to SafeWire to Further Safeguard Real Estate Wire Transactions

COLUMBUS, Ohio -- SafeChain, the industry leader in wire fraud prevention software for land title, announced today it has added blockchain to its wire fraud prevention platform SafeWire(TM), making the company the first in the industry to do so. The addition of blockchain to SafeWire provides increased security for real estate wire transactions by ensuring fraudsters cannot tamper with wiring instructions undetected.

"SafeChain is committed to stamping out wire fraud in the real estate industry," said Tony Franco, CEO and co-founder of SafeChain. "By coupling an ultra-secure, distributed ledger with SafeWire's identity verification and bank-level authentication technology, we have made the real estate wire transaction significantly more difficult to hack, thus providing home buyers, title companies and real estate agents additional assurance that their transaction is as fraud-free as possible."

The SafeWire platform safeguards real estate wire transactions by verifying participants' identities and account ownership and providing a secure portal to transmit wiring instructions. With blockchain, SafeWire now offers a tamper-proof storage mechanism for wiring instructions that notifies users immediately if an unauthorized party attempts to alter the instructions.

"Today, real estate wire fraud is being perpetrated primarily through business email compromise schemes, where fraudsters spoof the email accounts of legitimate participants to fraudulently divert funds. However, this won't always be the case, as fraudsters become more sophisticated in their attempts," said Robert Zwink, CTO and co-founder of SafeChain. "Blockchain provides the most advanced data security available today, and adding this element to SafeWire ensures that our customers' transactions are secure both today and in the future."

About SafeChain:

SafeChain makes real estate transactions safer and simpler. Built by real estate title experts in collaboration with banking technologists, SafeChain tackles the inefficiencies of the buying and selling process from the inside-out to help title companies, mortgage bankers and realtors decrease costs and deliver a better experience for customers. Leveraging the most advanced technologies, including blockchain, SafeChain increases the speed and security of closings to deliver faster transactions and better consumer confidence.

For more information visit: https://www.safechain.io/.

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This news story was published by the Neotrope® News Network - all rights reserved.

Awards and Honors, Business, Free News Articles, Software

SafeChain Honored as 2018 Seed Stage Company of the Year at VentureOhio Awards

COLUMBUS, Ohio -- SafeChain, the industry leader in wire fraud prevention software for land title, announced today that it was named 2018 Seed Stage Company of the Year by VentureOhio.

SafeChain was recognized for developing SafeWire, an innovative platform that implements a combination of identity verification and bank-grade authentication technology to verify ownership of accounts involved in a wire transaction, secure wire transfers and prevent wire fraud. In addition, SafeChain recently concluded the first blockchain backed real estate transaction in partnership with government. SafeChain continues to work the Auditor's Office in Franklin County, Ohio to move the jurisdiction's property records to a new platform fully backed by blockchain technology.

As a finalist among a highly competitive group of seed-stage company applicants, SafeChain was selected as the winner in its category by a panel of 22 expert judges and honored at the fifth annual Venture Dinner.

"The awards event brought together over 700 investors, entrepreneurs, community leaders, and elected officials to review the success of the Ohio entrepreneurial ecosystem and encourage statewide collaboration," said Falon Donohue, CEO of VentureOhio.

"It's an honor to be recognized as 2018 Seed Stage Company of the Year," said Tony Franco, CEO and co-founder of SafeChain. "Ohio is home to a thriving ecosystem of technical innovation and forward-thinking entrepreneurship, and we are proud to contribute to the growth of the state's business community by building out the next generation of real estate security and records systems backed by blockchain technology."

To view the winners of all of the VentureOhio Awards categories, visit https://ventureohio.org.

About VentureOhio:

VentureOhio is an Ohio non-profit which aims to improve access to capital and foster collaboration in the startup community. For more information visit https://ventureohio.org.

About SafeChain:

SafeChain makes real estate transactions safer and simpler. Built by real estate title experts in collaboration with banking technologists, SafeChain tackles the inefficiencies of the buying and selling process from the inside-out to help title companies, mortgage bankers and realtors decrease costs and deliver a better experience for customers.

Leveraging the most advanced technologies, including blockchain, SafeChain increases the speed and security of closings to deliver faster transactions and better consumer confidence. For more information visit http://www.safechain.io.

Related link:

This news story was published by the Neotrope® News Network - all rights reserved.