Paymints.io Integrates with First American Title's PRISM® Platform for Secure Transaction Funding

Rhea-AI Summary

Paymints.io has integrated its secure digital payment platform with First American Title Insurance Company's PRISM platform, enhancing the efficiency of real estate transactions. This collaboration allows title and real estate agents to request and receive earnest money and cash-to-close funds seamlessly. The digital system promotes security by eliminating paper checks and potential wire fraud, while facilitating faster disbursements to clients and vendors. First American Title aims to provide a more convenient experience for all stakeholders involved in real estate transactions.

Positive

• Integration with PRISM enhances efficiency in real estate transactions.
• Elimination of paper checks reduces wire fraud risk.
• Fast disbursement to clients and vendors can be initiated within 60 seconds.

Negative

• None.

CHARLOTTE, N.C., Sept. 20, 2022 /PRNewswire/ -- Paymints.io, a secure, digital, white-label SaaS platform that allows parties to collect earnest money as well as transfer and disburse funds for real estate transactions, has integrated with First American Title Insurance Company's PRISM^® digital platform for title agents. The PRISM platform, which combines automation and marketing tools, allows First American policy-issuing title agents to offer valuable products and services directly to their customers via any computer or mobile device at any time.

The paymints.io integration with the PRISM platform enables both title and real estate agents to request and receive earnest money and cash-to-close funds from home buyers once a buyer estimate is prepared. By allowing title and real estate agents to trigger funding requests within the same platform, the PRISM platform helps enhance the efficiency of the settlement process.

"With the continuous adoption of technology in our world, the natural progression of real estate transactions has also evolved to become more digital and secure. This progression includes the elimination of paper checks," said Perla Aparicio, vice president of strategic partnerships at paymints.io. "In addition to helping to prevent wire fraud, the use of electronic disbursement shaves time and cost from the settlement process, which benefits borrowers, mortgage lenders, real estate agents, and title and settlement professionals.

Paymints.io's multi-purpose application is designed to eliminate the need for paper checks and defend against wire fraud. The system not only collects earnest money deposits and cash for closing, but also offers an expansive vendor marketplace, featuring real estate agents, mortgage brokers, real estate attorneys, and other service providers who may be due funds or payment at closing. A disbursement to all clients and vendors can be initiated within 60 seconds, eliminating the process of printing and mailing paper checks or the need for multiple phone calls to confirm routing and wiring instructions.

"The integration of our innovative PRISM platform with paymints.io reflects our commitment to provide a more convenient real estate transaction experience for our title agents and the lenders, real estate agents, buyers and sellers they serve," said Kevin Wall, president of First American Title's Agent and Lender Group. 

For more information about PRISM, email sales@PRISMpowered.com or visit go.PRISMpowered.com to schedule a personalized demo.

About paymints.io

On a mission to eliminate paper checks and reduce wire fraud in the real estate industry, paymints.io is the provider of a secure, digital, white-label SaaS platform that allows buyers to transfer funds for many types of real estate transactions. Escrow holders and settlement agents can also disburse funds to clients or vendors using its proprietary platform. 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.

Contact 

For more information about paymints.io, email press@paymints.io, visit paymints.io to schedule a demo or connect with us on LinkedIn.

Contact:

Perla Aparicio
VP of Strategic Partnerships
888-921-1090
perla.aparicio@paymints.io

About First American Title Insurance Company

First American Title Insurance Company, the largest subsidiary of First American Financial Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operations and an extensive network of agents throughout the United States and abroad. First American Title provides comprehensive title insurance coverage and professional services for real estate purchases, construction, refinances and equity loans. For more information, visit www.firstam.com/title.

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SOURCE Paymints.io

FAQ

What is the integration between Paymints.io and First American Title's PRISM platform?

Paymints.io's integration with the PRISM platform enables title and real estate agents to request and receive earnest money and cash-to-close funds more efficiently.

How does the integration improve real estate transactions?

It enhances efficiency by allowing digital requests for funds, reducing the reliance on paper checks which promotes security and speeds up the settlement process.

What benefits does Paymints.io offer to real estate professionals?

Paymints.io helps eliminate the need for paper checks, reduces wire fraud, and allows for quick disbursement of funds to clients and vendors in real estate transactions.

What is the significance of the PRISM platform for title agents?

The PRISM platform provides automation and marketing tools that enable title agents to offer valuable services directly to customers from any device.

When was the integration announced?

The integration was announced on September 20, 2022.