COLUMBUS, Ohio, Jan. 8, 2019 (SEND2PRESS NEWSWIRE) — 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™, 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.
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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News Source: SafeChain