Teranet recently launched the pilot of SureFund, an online platform designed for secure and contactless real estate funds transfer. The company says the digital fund management system will allow real estate legal professionals to manage, transfer and track closing funds securely.
It says the platform was developed to address a growing need to modernize real estate payments in Ontario. “SureFund will free up resources for real estate lawyers and law clerks to work more closely with clients by saving significant time and effort from manual processes, such as running cheques, facilitating bank drafts, making deposits and co-ordinating with couriers,” says Teranet in a news release.
“Teranet has been a trusted service provider to legal professionals in Ontario for decades,” says Teranet CEO and president Elgin Farewell. “We are excited to once again extend and enhance the ability for legal professionals to collaborate and transact electronically more efficiently and securely, particularly as working remotely becomes the new normal.”
“Teranet’s rich experience in platform and registry technology will enable the modernization required for the transfer of funds when closing a real estate transaction, while leveraging the payment processing power of exclusive service provider, FCT,” says the company.