Business, Free News Articles, Software

SafeChain Collaborates with Accuity to Secure Real Estate Wire Transfers

EVANSTON, Ill. -- SafeChain, the industry leader in wire fraud prevention software and blockchain implementation for land title, announced today that it has integrated bank data from Accuity, the leading provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, to enhance the security of real estate transactions. SafeChain's wire fraud prevention platform, SafeWire(TM), now incorporates information from the Accuity Bankers Almanac Routing and Transit Number (RTN) File, to give users greater confidence that funds are being wired to the correct account.

"As wire fraud schemes increase in both number and complexity, it is critical for title companies to authenticate and verify every aspect of the wire transaction to ensure consumers' funds are protected throughout," said SafeChain CEO and Co-founder Tony Franco. "The integration between SafeWire and Accuity, the Official Registrar of ABA Routing Numbers, provides additional peace of mind to all parties in a real estate transaction by ensuring the authenticity and accuracy of routing information and adding an additional safeguard against wire fraud."

Now, when wire instructions are sent to SafeWire, users can leverage the Accuity payments data to verify that all necessary routing information for the transaction is present and correct. In addition to SafeWire's current ABA and intermediary verification checks, the Accuity integration will make it easier for the consumer when an intermediary institution is needed to complete a wire transfer. Rather than relying on the consumer to gather the intermediary's routing information, Accuity will now collect and verify the information automatically and report it to the title company via SafeWire.

"Wire fraud in real estate transactions is one of the fastest growing cybercrimes in the United States, and the closing process, in particular, requires closer scrutiny of transactions," said Sarkis Akmakjian, Senior Director of Product Management at Accuity. "Bankers Almanac Routing and Transit Number File significantly reduces operational risk by ensuring the integrity of the payment origination data. We are pleased that SafeChain is working with us to optimize and reinforce the safety of its payments processes."

About Accuity:

Accuity offers a suite of innovative solutions for payments and compliance professionals, from comprehensive data and software that manage risk and compliance, to flexible tools that optimize payments pathways. With deep expertise and industry-leading data-enabled solutions from the Fircosoft, Bankers Almanac and NRS brands, our portfolio delivers protection for individual and organizational reputations.

Part of RELX Group, a global provider of information and analytics for professional and business customers across industries, Accuity has been delivering solutions to banks and businesses worldwide for 180 years. For more information visit: https://accuity.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, Software

SafeChain Digitizes Property Deed Transfer and Conveyance for Perry County, Ohio

COLUMBUS, Ohio -- SafeChain, the industry leader in wire fraud prevention software and blockchain implementation for land title, announced today it has completed the digital conversion of Perry County, Ohio's deed transfer and conveyance process between the engineer and auditor. Beginning January 7, the Perry County Engineer's office will be able to digitize property deeds before the inspection and mapping process.

Moving forward, each deed will receive a digital stamp backed by blockchain for added transparency and security, eliminating the need for physical authorization. The deeds will then be electronically transferred to the county Auditor's office for conveyance.

"As public servants, our top priority is to ensure that we operate as efficiently as possible to best serve our constituents - regardless of the size of our jurisdiction," said Perry County Auditor Drew Cannon. "By working with SafeChain and the Perry County Engineer to modernize our operations and eliminate the need for a physical stamp, we've completed a key step for a 100 percent digital deed transfer and conveyance process. Through this project, we are providing transparency for property owners about their deed status, while also increasing our operational efficiency."

Perry County marks another successful public-private partnership in which SafeChain has worked with local government officials to utilize the latest technology to transact property more efficiently. Its second successfully executed use case was deed issuance with Franklin County, Ohio. SafeChain's previous endeavors also include its commercial wire fraud product, SafeWire(TM). With the completion of the Perry County project, SafeChain has, for the third time, leveraged blockchain to positively impact the real estate transfer process, representing significant progress on Ohio's goal to transfer all real property using blockchain.

"When SafeChain entered the real estate industry, we knew that tackling the industry's biggest challenges in both the public and private sectors was the only way to truly innovate a process that has existed for hundreds of years," said Tony Franco, CEO and co-founder of SafeChain. "Perry County is a great example of how innovation comes from across the state and isn't limited to metropolitan jurisdictions. By eliminating these physical and analog processes, SafeChain is excited to continue partnering with forward-thinking elected officials to improve the taxpayer experience of transacting property."

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

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.

e-Commerce, Free News Articles, Real Estate, Software

SafeChain Completes First Official Real Estate Blockchain Transaction in the U.S.

COLUMBUS, Ohio -- SafeChain, the industry leader in wire fraud prevention software for land title, announced today it has successfully facilitated the sale of 36 forfeiture properties via blockchain. The transactions, which were completed on Tuesday in partnership with the auditor's office in Franklin County, Ohio, marks the first instance in the U.S. of a state government using blockchain to legally record the transfer of property deeds.

"To have Franklin County lead the nation in blockchain adoption for real estate transactions is one of the crowning achievements of my tenure as Auditor, but this transaction is just the beginning," Franklin County Auditor Clarence Mingo said. "Too often, government services are inefficient and out-of-touch with current technology, resulting in wasted tax dollars and a poor experience. The constituents of Franklin County deserve better, which is why the Auditor's Office has set a goal to move 100 percent of Franklin County's property records to blockchain and begin testing the technology to decentralize all county records and systems to create a more streamlined, efficient and secure process for delivering these services to the local community."

The recorded properties were sold at auction by the auditor's office. After the deeds are awarded to the winning bidders, all relevant property information is transferred to blockchain and assigned a barcode, which is then attached to the deed so that the property's information can be accessed via blockchain.

"Blockchain will transform the real estate industry. There's no doubt about it, and the earlier entities get on board, the more they stand to gain in terms of security and efficiency," said Tony Franco, CEO of SafeChain. "Starting with something as relatively straightforward as property transfers, blockchain creates a decentralized, near-perfect audit trail that can never be lost or stolen. Eliminating that risk opens the door to completely changing how properties are bought and sold in the U.S., and those changes will ultimately be to the consumer's benefit, as well as the real estate industry's as well."

In addition to its partnership with Franklin County, SafeChain is also working with officials in Washington and Perry counties as part of a larger, state-wide push to adopt blockchain. In June 2018, Ohio state legislators signed Senate Bill 220 into law, which added blockchain as a legally-recognized electronic transaction in the state.

As Ohio House Speaker Ryan Smith noted in an August 23, 2018 article for The Columbus Dispatch, "This is so new and just starting to take shape that we can position Ohio out front and, most importantly put it out in a way that gives our kids...an opportunity to stay in Ohio and not have the brain drain to the West Coast. It's a great opportunity for Ohio to really start the economic engine on a different perspective."

"As an Ohio-based company, we are deeply invested in not only making Ohio a top-of-mind destination for top technology talent, but we are also honored to help lead the charge to make Ohio one of the most technologically-advanced states in the nation," Robert Zwink, CTO of SafeChain said. "In addition to moving property records to blockchain, we're also working with title companies to eliminate wire fraud in real estate transactions using our platform SafeWire, thus adding an additional layer of security and efficiency to the real estate process."

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/.

*VIDEO (YouTube):
https://youtu.be/0x6JVvd9g-E

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

e-Commerce, Free News Articles, Real Estate, Software

SafeChain Completes First Official Real Estate Blockchain Transaction in the U.S.

COLUMBUS, Ohio -- SafeChain, the industry leader in wire fraud prevention software for land title, announced today it has successfully facilitated the sale of 36 forfeiture properties via blockchain. The transactions, which were completed on Tuesday in partnership with the auditor's office in Franklin County, Ohio, marks the first instance in the U.S. of a state government using blockchain to legally record the transfer of property deeds.

"To have Franklin County lead the nation in blockchain adoption for real estate transactions is one of the crowning achievements of my tenure as Auditor, but this transaction is just the beginning," Franklin County Auditor Clarence Mingo said. "Too often, government services are inefficient and out-of-touch with current technology, resulting in wasted tax dollars and a poor experience. The constituents of Franklin County deserve better, which is why the Auditor's Office has set a goal to move 100 percent of Franklin County's property records to blockchain and begin testing the technology to decentralize all county records and systems to create a more streamlined, efficient and secure process for delivering these services to the local community."

The recorded properties were sold at auction by the auditor's office. After the deeds are awarded to the winning bidders, all relevant property information is transferred to blockchain and assigned a barcode, which is then attached to the deed so that the property's information can be accessed via blockchain.

"Blockchain will transform the real estate industry. There's no doubt about it, and the earlier entities get on board, the more they stand to gain in terms of security and efficiency," said Tony Franco, CEO of SafeChain. "Starting with something as relatively straightforward as property transfers, blockchain creates a decentralized, near-perfect audit trail that can never be lost or stolen. Eliminating that risk opens the door to completely changing how properties are bought and sold in the U.S., and those changes will ultimately be to the consumer's benefit, as well as the real estate industry's as well."

In addition to its partnership with Franklin County, SafeChain is also working with officials in Washington and Perry counties as part of a larger, state-wide push to adopt blockchain. In June 2018, Ohio state legislators signed Senate Bill 220 into law, which added blockchain as a legally-recognized electronic transaction in the state.

As Ohio House Speaker Ryan Smith noted in an August 23, 2018 article for The Columbus Dispatch, "This is so new and just starting to take shape that we can position Ohio out front and, most importantly put it out in a way that gives our kids...an opportunity to stay in Ohio and not have the brain drain to the West Coast. It's a great opportunity for Ohio to really start the economic engine on a different perspective."

"As an Ohio-based company, we are deeply invested in not only making Ohio a top-of-mind destination for top technology talent, but we are also honored to help lead the charge to make Ohio one of the most technologically-advanced states in the nation," Robert Zwink, CTO of SafeChain said. "In addition to moving property records to blockchain, we're also working with title companies to eliminate wire fraud in real estate transactions using our platform SafeWire, thus adding an additional layer of security and efficiency to the real estate process."

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/.

*VIDEO (YouTube):
https://youtu.be/0x6JVvd9g-E

Related link:

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