Actual property expertise firm Doma Holdings, Inc. partnered with digital cost software-as-a-service platform paymints.io, the corporate introduced final week.
Title and shutting corporations use paymints.io to permit homebuyers deposit their earnest cash digitally and straight from their checking account.
The purpose of the partnership is to scale back the chance of wire fraud by including paymints.io to Doma’s AgentMarketplace vendor partnership program. Paymints.io’s providers will now be obtainable to Doma’s unbiased and affiliated title agent and lawyer clients.
In a 2022 survey by the American Land Title Affiliation, 46% of respondents stated their staff obtain a minimal of 1 fraudulent electronic mail every month.
Doma, which makes use of machine intelligence and proprietary expertise options, companions with service suppliers via the AgentMarketplace program. These suppliers assist title insurance coverage professionals obtain the instruments to “keep compliant, cut back prices and inefficiencies and develop their enterprise,” in response to a press release.
Doma Academy additionally supplies assets like webinars and coaching to stop wire fraud.
“Doma is keen to introduce paymints.io to our title agent and lawyer clients, who’re searching for instruments to avoid wasting money and time and compete in immediately’s difficult market,” stated Emilio Fernandez, president of Doma Title Insurance coverage, Inc.
The corporate’s CloseWatch Reward program provides its title and escrow professionals $500 after they detect and forestall fraud throughout closing transactions, and has prevented the lack of greater than $40 million thus far.
paymints.io permits customers to make use of single sign-on authentication and requires one set of credentials to entry their purposes.
“As we additional enter the digital transformation of the true property transaction, we’re excited to associate with Doma, whose mission of constructing an instantaneous and frictionless house closing expertise aligns harmoniously with our efforts to automate the cost expertise,” stated Perla Aparicio, Vice President of Strategic Partnerships at paymints.io.
In 2022, each corporations featured in HousingWire’s Tech100 Awards, with paymints.io in the true property class whereas Doma gained within the mortgage class.
paymints.io built-in with Notarize in April 2022 and with First American Title Insurance coverage Firm’s PRISM in September 2022.