"The enhancement to its suite of tools includes new identity verification technology powered by Intellicheck. This tool will allow policy issuing title agents to confirm the identities of real estate transaction participants early in the process. This identity verification tool will be joining First American's existing suite of technology, which includes real-time data insights, secure wire and payoff verification, identity confirmation and added protection through the company's Eagle Policy, where available."
"The threat from real estate fraud continues to grow, making early identity verification an essential safeguard for our industry, Steve Vincini, president of First American Title's Agency Division, said in a statement. AgentNet is built with our agents in mind, and by integrating leading-edge, AI-driven identity verification into our solutions, we're reinforcing our long-standing commitment to deliver the certainty and trust that powers seamless real estate transactions."
First American Title is broadening its fraud prevention technology with a new cybersecurity tool that adds identity verification powered by Intellicheck. The tool enables policy-issuing title agents to confirm identities of real estate transaction participants early in the process. The identity verification joins existing capabilities including real-time data insights, secure wire and payoff verification, identity confirmation, and added protection through the Eagle Policy where available. The enhanced fraud prevention suite is accessible to title agents through the AgentNet platform and integrates AI-driven identity verification. Early identity verification addresses growing real estate fraud risks, with cyber-enabled fraud losses exceeding $13.7 billion in 2024.
Read at www.housingwire.com
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