Provides a SaaS platform for identity verification and bank detail validation, specifically designed to prevent wire fraud in real estate transactions. The service includes up to $2 million in insurance for verified transfers and expert recovery services to recover stolen funds, addressing the growing threat of fraud that targets 1 in 4 real estate transactions.
Funding
$36.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
CIFounders
Product
Problem
Real estate transactions are increasingly targeted by wire fraud, with a significant percentage of consumers and businesses facing manipulation to misdirect funds. Traditional security measures often fail to protect against sophisticated social engineering tactics, leading to substantial financial losses and potential delays in closing processes.
Solution
CertifID provides a comprehensive wire fraud protection platform designed specifically for the real estate industry, combining software, insurance, and expert recovery services. The platform verifies identities and validates bank details in real-time, analyzing over 150 fraud markers to prevent unauthorized fund transfers. Each verified transaction is backed by direct insurance coverage, offering financial protection against wire fraud losses. In the event of fraud, CertifID partners with federal law enforcement to increase the chances of recovering stolen funds, providing clients with a rapid response and expert guidance throughout the recovery process. CertifID integrates directly into existing workflows for title companies, law firms, and real estate agents, ensuring a seamless and secure transaction experience for all parties involved.
Target Audience
CertifID primarily serves title companies, law firms, real estate agents, and home buyers/sellers involved in real estate transactions, who seek to mitigate the risk of wire fraud and ensure secure fund transfers.
Features
- Real-time identity verification and bank detail validation using advanced technology
- Analysis of over 150 fraud markers to detect and prevent wire fraud attempts
- Direct insurance coverage for each verified wire transfer, up to $2M
- Fraud Recovery Services, partnering with federal law enforcement to recover stolen funds
- Integration with leading real estate transaction management platforms like AIM+, Resware, SoftPro, and RamQuest
- PayoffProtect feature to secure and insure payoff disbursements
- Money Protection Plan for comprehensive coverage during real estate transactions
- Secure platform for sending and collecting bank details