It was a big week on the cybersecurity front as remote online notarization (RON) firm Proof —formerly Notarize — and digital closing platform Qualia each launched new security features aimed at fraud prevention.
Proof’s new security feature is known as Identify, which the firm describes as a no-code solution to overcome falsified records, forged signatures and identity theft.
“Proof’s Identify weeds out fraud well before the close of a transaction, and it eliminates friction for any downstream process by sharing identity information across multiple touchpoints,” Proof CEO Pat Kinsel said in a statement. “Our new tool is a big step forward in helping companies address the massive fraud problem without compromising the customer experience.”
According to the announcement released on Tuesday, real estate and mortgage firms can incorporate Identify throughout the consumer experience to verify or reconfirm a person’s identity for any information-sensitive transaction.
Proof notes that Identify can be incorporated into a customer workflow without a firm having to build out an integration. The RON company said Identify users can incorporate a QR code or send customers to Proof by inserting a unique hyperlink into an existing customer workflow.
Once a consumer goes through Identify, the business will receive a tamper-sealed identity report that documents all of the steps that were taken to verify a user’s identity, as well as all related information about that user. According to the announcement, this report can be used as evidence that a bank or title company performed identity verification before authorizing a transaction.
Qualia also announced its security upgrades on Tuesday, launching three new capabilities for its wire fraud prevention product known as Qualia Shield.
The new capabilities include identity verification for all transaction parties, wife fraud risk assessments and buyer education tools, which provide…