Doma teams with paymints.io to combat wire fraud and paper checks

The partnership aims to reduce the risk of wire fraud and allow homebuyers to digitally deposit earnest money. Paymints.io will offer its affordably priced services to Doma’s independent and affiliated title agent and attorney customers nationwide. The addition of paymints.io to Doma’s AgentMarketplace marks another step toward Doma’s vision of enabling an instant, digital homeownership experience.

Through its AgentMarketplace programme, Doma partners with industry service providers to offer title insurance professionals products and services to help them stay compliant, reduce costs, and grow their business. In addition, Doma provides wire fraud prevention educational resources including webinars, seminars, and in-office trainings; on-demand programmes, and trainings through Doma Academy and the CloseWatch Reward programme, which awards Doma’s title and escrow professionals USD 500 for proactively detecting and thwarting fraud attempts during real estate closings, and has prevented more than USD 40 million in fraud-related losses.

Eliminating paper checks for homebuyers

Built with the mission to eliminate the inefficiencies of chasing paper checks and the stress caused by wire fraud, the paymints.io platform helps homebuyers deposit their earnest money directly from their checking account. The secure, digital SaaS platform also gives escrow holders and settlement agents a safe, compliant way to digitally disburse funds to clients and vendors.

Paymints.io’s white-label application enables users to create a digital payment system with their company’s branding and imaging. Using single sign-on authentication, users need only one set of credentials to access their applications, which not only streamlines the user experience, but also improves enterprise security and identity protection.

According to officials from Doma, Paymints.io’s focus on leveraging digital technology to create faster, more efficient closing experiences supports their mission to transform real estate transactions using patented machine-learning technology. Doma is eager to introduce paymints.io to its title agent and attorney customers, who are seeking tools to save time and money and compete in today’s challenging market.

Also commenting on the partnership, representatives from payments.io stated that as we further enter the digital transformation of the real estate transaction, they’re excited to partner with Doma, whose mission of building an instant and frictionless home closing experience aligns harmoniously with their efforts to automate the payment experience.