Doma and paymints.io Partner to Reduce Wire Fraud and Paper Checks

Rhea-AI Summary

Doma Holdings, Inc. (NYSE: DOMA) has partnered with paymints.io to enhance its AgentMarketplace vendor program. This initiative aims to reduce wire fraud risks and streamline earnest money deposits for homebuyers. The integration of paymints.io’s digital payment platform enables secure transactions, helping title agents and attorneys to operate more efficiently. Doma's efforts also include educational resources for fraud prevention, having successfully prevented over $40 million in losses. Doma's mission focuses on creating a digital and frictionless home closing experience, aligning with paymints.io’s goal of automating the payment process in real estate transactions.

Positive

• Partnership with paymints.io enhances AgentMarketplace and provides advanced digital payment solutions.
• Digital payment platform reduces wire fraud risks, enhancing security for homebuyers.
• Educational programs help title professionals detect fraud, preventing over $40 million in losses.

Negative

• None.

Doma Adds Digital Payment Solution Provider paymints.io to Vendor Partnership Program to Benefit Homebuyers, Title and Escrow Professionals

SAN FRANCISCO--(BUSINESS WIRE)-- Doma Holdings, Inc. (NYSE: DOMA), a leading force for disruptive change in the real estate industry, announced today it has added digital payment solution provider paymints.io to its AgentMarketplace vendor partnership program 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 program, Doma partners with industry service providers to offer title insurance professionals products and services to help them stay compliant, reduce costs and inefficiencies and grow their business. In addition, Doma offers industry-leading wire fraud prevention educational resources including webinars, seminars, and in-office trainings; on-demand programs and trainings through Doma Academy (formerly NATIC University); and the CloseWatch Reward program, which awards Doma’s title and escrow professionals $500 for proactively detecting and thwarting fraud attempts during real estate closings, and has prevented more than $40 million in fraud-related losses—delivering greater peace of mind to 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.

“Paymints.io’s focus on leveraging digital technology to create faster, more efficient closing experiences supports Doma’s mission to transform real estate transactions using patented machine-learning technology,” said Emilio Fernandez, President of Doma Title Insurance, Inc. “Doma is eager to introduce paymints.io to our title agent and attorney customers, who are seeking tools to save time and money and compete in today’s challenging market. We look forward to empowering our customers to use paymints.io’s industry-leading technology and provide even more protection to homebuyers.”

“As we further enter the digital transformation of the real estate transaction, we’re excited to partner with Doma, whose mission of building an instant and frictionless home closing experience aligns harmoniously with our efforts to automate the payment experience,” said Perla Aparicio, Vice President of Strategic Partnerships at paymints.io.

Doma customers seeking information on using its AgentMarketplace program or its paymints.io offering may do so by contacting Doma’s Education Department at education@doma.com.

About Doma

Doma is a real estate technology company that is disrupting a century-old industry by building an instant and frictionless home closing experience for buyers and sellers. Doma uses proprietary machine intelligence technology and deep human expertise to create a vastly more simple and affordable experience for everyone involved in a residential real estate transaction, including current and prospective homeowners, mortgage lenders, title agents, and real estate professionals. With Doma, what used to take days can now be done in minutes, replacing an arcane and cumbersome process with a digital experience designed for today’s world. To learn more visit doma.com.

About paymints.io

Paymints.io is a venture-backed, SOC 2 Type II certified, digital payments solution focused on elevating the payment experience in a real estate transaction. Automating payments and modernizing the B2B and B2B2C experience allows real estate industry participants to reduce its dependency on the costly, manual process of handling and processing paper checks. The platform offers a variety of payment solutions including earnest money deposit, cash to close as well as client and vendor disbursements securely, without having to expose and share account numbers and routing information. In 2022, paymints.io was awarded HousingWire's Tech100 Real Estate Award for the second consecutive year. For more information on paymints.io, visit www.paymints.io.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005122/en/

Camilla Whitmore | Lead, Public Relations for Doma | press@doma.com

Perla Aparicio | VP of Strategic Partnerships for paymints.io | perla.aparicio@paymints.io

Source: Doma Holdings, Inc.

FAQ

What is the partnership between Doma and paymints.io?

Doma has added paymints.io to its AgentMarketplace to offer digital payment solutions, aiming to reduce wire fraud and streamline earnest money deposits.

How does Doma's AgentMarketplace benefit title agents?

The AgentMarketplace provides title agents with access to digital payment solutions and resources that help reduce costs and improve efficiency.

What is Doma's mission in the real estate industry?

Doma aims to create an instant and frictionless home closing experience using proprietary technology.

What impact has Doma's educational resources had on fraud prevention?

Doma's educational resources have helped prevent over $40 million in fraud-related losses.