Proptech e4 moves to secure property transfer process
e4 has announced the launch of CommunicationHub, a digital platform designed to improve the security of communication during the property transfer process.
The company claims the platform will help protect financial institutions, conveyancing solicitors and property purchasers.
The company says the development of CommunicationHub is a direct response to the need for increased awareness and focus on the protection of private and sensitive information, especially as cyber crime via phishing and business email compromise continues to rise.
Following a series of high-profile cases in which email conversations were intercepted and highjacked by criminals, resulting in significant financial losses, e4 says, the need for secure communications between conveyancing solicitors and their clients has become more apparent.
"e4 has always taken the safety, security, and integrity of information very seriously, which is why we developed a platform that aims to safeguard sensitive information in the home buying process. e4 recognises the importance of secure communication and has tailored our platform to meet this critical need," says Clive Bredenkamp, e4's IT executive.
"It is our responsibility as a trusted entity handling sensitive data to provide a secure environment for our partners. CommunicationHub is proof of that. This platform is more than just an addition to our array of services; it is a tangible step towards protecting the industry and all players in the property transfer value chain," he adds.
According to Bredenkamp, email has become one of the major sources of impersonation fraud in the modern era and relying on it to transfer documents and share information can pose significant concerns.
CommunicationHub, he says, is part of e4's larger aim of providing several specialised products for every player in the property transfer ecosystem.