SafeChain Partners with RamQuest to Thwart Closing Fraud
August 28, 2019
SafeChain, a provider of wire fraud prevention technology and blockchain applications, has integrated its SafeWire application into RamQuest’s Closing Market.
“Improving functionality for RamQuest clients will be essential as we look toward eliminating wire fraud,” said Rob Zwink, CTO at SafeChain. “We know human error accounts for the majority of wire fraud detection failure. Consequently, ensuring that agencies’ escrow and closing teams can access SafeWire within RamQuest’s Closing Market provides the ideal connection. It enables agencies to reduce their exposure without making major changes in their processes.”
SafeWire uses multi-source verification to protect real estate wire transactions. By digitally identifying transaction participants it assures agencies that the information cannot be tampered with or intercepted by unauthorized parties. According to SafeChain, this allows bank account authentication, two way sharing of secure documents, collection of wet signatures, and continuous secure communication from pre to post-closing.
“We’re committed to developing integrations that empower our customers to grow their business,” RamQuest CSO Ben Cork said. “The SafeWire integration is just one example of this and gives RamQuest customers an easy solution to securely communicate sensitive information, verify bank accounts, and ultimately deter fraud.”
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