Cottonwood Title Secures its Wire Transactions Using SafeChain

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Cottonwood Title Insurance Agency is now protecting its wire transactions using SafeWire  from SafeChain, a provider of wire fraud prevention software and blockchain implementation software.

Cottonwood Title claims to be one of the largest independent title agencies in Utah.

“We pride ourselves on our speed, accuracy and ability to close transactions on schedule, but equally as important to us is ensuring that our clients’ funds do not fall into the wrong hands,” says Cort Ashton, vice president of escrow at Cottonwood Title, in a release. “SafeWire provides our customers with peace of mind in knowing their wire transactions are protected without impacting the excellent service our customers and partners expect.”

Leveraging both bank-grade authentication and blockchain technology, SafeWire prevents fraudsters from interfering with real estate wire transactions.

Through the platform, title agents can verify the identities of both the buyer and seller in the transaction, as well as securely store and transmit wiring instructions to prevent fraudsters from intercepting and tampering with this information.

In addition, title agents can authenticate ownership of the buyer’s and seller’s respective bank accounts to ensure funds are being sent to and received by authorized parties.

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