Porch Group Launches New Product In The Rynoh Title Platform

 


Porch Group, Inc. (NASDAQ: PRCH), a prominent vertical software company specializing in home services and insurance, has introduced RynohVerifi, an innovative fraud warning product tailored for title and escrow companies seeking enhanced protection against fraud in real estate transactions. Following Porch's acquisition of Rynoh in 2021, Rynoh has established itself as a leading provider of SaaS solutions for title and escrow agents, facilitating the management of funds in real estate closings from homebuyers and lenders to various stakeholders. Given the complex and regulated nature of the title and escrow industry, where agencies handle millions of dollars daily, Rynoh plays a crucial role in their monetary control environment, safeguarding over 40% of all US residential purchases and home refinances in 2021.

RynohVerifi addresses the rising threat of payment fraud by verifying payee account ownership and notifying clients of any anomalies in account details that may suggest fraudulent interference, such as compromised business emails or impersonation. Jim Weld, Rynoh General Manager, expressed enthusiasm about the product's launch, emphasizing its contribution to fraud protection and banking integration services. Matt Ehrlichman, Chief Executive Officer of Porch, sees RynohVerifi as part of the company's commitment to developing innovative solutions for the home buying transaction, with further plans for product development in 2024. Porch Group serves approximately 30,700 home services companies through its software and insurance platform, providing a moving concierge service to assist homebuyers in making informed decisions on critical services.

Read More - https://www.techdogs.com/tech-news/business-wire/porch-group-launches-new-product-in-the-rynoh-title-platform

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