Proptech specialist e4 has announced CommunicationHub, a digital platform designed to enhance the security of communication within the property transfer process to protect financial institutions, conveyancing attorneys, and home buyers.
The first phase of CommunicationHub allows conveyancing attorneys to communicate securely with home buyers. In addition to continually setting industry standards, the development of CommunicationHub is in direct response to the need for heightened awareness and focus on the protection of private and sensitive information, particularly as cybercrime through phishing and business email compromise (BEC) continues to rise.
“The safety, security, and integrity of information is something e4 has always taken very seriously which is why we have developed a platform that aims to safeguard sensitive information in the home buying process. e4 understands the significance of secure communication and have tailored our platform to meet this critical need,” says Clive Bredenkamp, IT executive at e4.
The need for secure communications between conveyancing attorneys and their clients has become more evident following a number of high-profile cases in which email communications have been compromised by criminals leading to substantial financial losses.
“As a trusted entity handling sensitive data, it is our responsibility to provide a secure environment for our partners. CommunicationHub is a testament to that commitment. This platform is not just an addition to our suite of services; it’s a concrete step towards safeguarding the industry and all stakeholders in the property transfer value chain,” adds Bredenkamp.
Key features of CommunicationHub include:
* Capability for attorneys to invite participants, including other attorneys and home buyers to participate in a communication thread.
* Secure online registration on the platform for participants.
* Encrypted sharing of documents and banking details.
* Archive functionality to safely store communication for the long term.
* Milestone tracking of the key steps in the property transfer process for all stakeholders.
Bredenkamp says relying on email for sending documents and sharing information can pose substantial risks. “Email has become one of the major sources of impersonation fraud in the modern era. With e4’s CommunicationHub, relevant role players involved in a property transaction can enjoy safe and secure communication where sensitive information can be shared with confidence. This is a vital step towards moving the industry forward in a way that benefits everyone.”
He adds that CommunicationHub forms part of e4’s broader vision in providing multiple tailored products for every stakeholder in the property transfer ecosystem and a one-stop shop where all transactions in the home buying process are secure.