Innovative Technology Eliminates Identity Fraud in Loan Closings

CHARLESTON, S.C., July 10, 2023 /PRNewswire/ -- Mark Weeks, a leading South Carolina closing attorney, announced that he will be implementing Black Ink Technology's "ChainIT" platform into his law firm's practice at Weeks & Irvine, LLC.

Weeks & Irvine will utilize the platform to create digital identities that are connected to government records through biometrics for buyers, sellers, and borrowers which will help to eliminate identity fraud. ChainIT allows Weeks and Irvine to validate that the individual at the closing table is the individual presenting the government identification and to record the transaction in a permanent data record for verification anytime in the future. ChainIT will increase the efficiency of the closing process and help to eliminate fraud which is becoming problematic in the industry today as technology, such as AI, becomes more sophisticated making human detection of fraud more difficult.

Through ChainIT, real estate professionals create Validated Data Tokens (VDTs) that include information from the physical attributes of the closing event: Where (GPS location of closing), When (permanent timestamp of date and time), Who (biometric verification of participants), and What (event details and closing documents) are all recorded in the closing VDT. Using immutable ledger technology, the VDT becomes a digital record permanently connected to the closing event. The information in the VDTs can be confirmed at any future point through ChainIT's Touch Audit™ feature which enables instant confirmation of the data information for any VDT record, displaying true, unaltered data, and eliminating the need for trust.

Mark Weeks has built a reputation as one of the most knowledgeable and experienced closing attorneys in South Carolina. His decision to use the ChainIT platform is driven by his commitment to providing the best service to his clients offering an efficient, transparent, and unalterable closing process that minimizes the risk of errors, delays, and fraud.

"We are pleased to have Mark Weeks join the growing number of real estate professionals embracing our platform," said Jeremy Blackburn, Founder and CEO of Black Ink Technologies. "His reputation for hard work in delivering exceptional value and his commitment to client satisfaction make him a perfect client for our platform."

From verified digital identity to personal or business-related documents, services, and events ChainIT makes the complex simple. With its user-friendly interface, intuitive tools, and features like Touch Audit, token grading system, and industry leading biometric capture and analysis, professionals like Mark Weeks can execute closings efficiently with maximum transparency and validation, making the entire process seamless.

Join us in the discussion of "How We Can Eliminate Loan Fraud With Digital Identities."

Mark Weeks, Black Ink Tech, and other industry leading professionals are proud to announce a webinar on July 19, 2023 at 1:00PM EST, Eliminating Loan Fraud: Individual and Organizational Digital Identity in Loan Closings.

This webinar will provide participants with an overview of digital identity in the real estate industry. This will be a discussion of the benefits of individual and organizational digital identities, including increased security and efficiency. Topics will include identity creation, authentication, and data privacy, as well as current trends in identity management. Participants will also learn practical tips and strategies for leveraging digital identity and understand how to best protect themselves and their client's information in an increasingly digital world.

By the end of the webinar, participants will have a better understanding of how to create and manage personal and organizational digital identities securely and how to leverage this latest technology to not only increase efficiencies but also eliminate fraud, ultimately leading to less risk and higher profits. Webinar participants may register here: www.chainit.com/webinar

SOURCE Black Ink Tech