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
homebuyers
with
security
tips
for
a
safe
closing.

”Wire
fraud
poses
an
enormous
financial
threat
to
the
industry,
and
it
happens
every
day.
Our
goal
with
Shield
is
to
provide
a
fully
integrated
solution
to
help
title
&
escrow
companies
mitigate
their
risk
of
falling
victim
to
wire
fraud,
while
providing
their
clients
a
great
closing
experience,”
Charlotte
Brown,
vice
president
of
product
at
Qualia,
said
in
a
statement.
“The
addition
of
identity
verification
for
all
parties
is
a
continuation
of
our
commitment
to
provide
customers
with
the
most
advanced
and
reliable
tools
to
safeguard
their
clients
and
their
business.”

According
to
Qualia,
users
verify
their
identities
by
scanning
their
IDs
via
their
phone,
then
receive
an
analysis
of
the
barcode
to
determine
if
the
ID
is
government-issued.
Additionally,
Shield
facial
geometry
calculates
a
similarity
score
between
the
photo
ID
and
the
facial
scan,
which
the
firm
said
is
99%
accurate.

Qualia
Shield
also
offers
a
multivariable
assessment
of
wire
instructions
that
examines
the
bank
routing
number,
account
number
and
account
ownership.
In
addition,
it
also
reviews
other
fraudulent
patterns
to
determine
a
transaction’s
risk
of
wire
fraud.
The
new
risk
assessment
review
feature
takes
things
further
by
allowing
users
to
examine
and
acknowledge
the
risk
assessment
findings
on
every
wire.

The
firm
first
launched
Qualia
Shield

in
October
2023.

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