Clareity Security has released a new security product that aims to protect real estate transaction management systems used by brokers and agents to track property deals.
The product, SafeTMS, protects against unauthorized access to sensitive customer and transaction information using a one-time-use, password-generating device called an authenticator, or key-fob token.
Brokers and agents use transaction management systems to track real estate deals online, enabling communication among all the parties and vendors while a deal is in progress.
SafeTMS uses the same technology as Clareity’s other security product, SafeMLS, and the same token devices can be used for both, the company said in an announcement.
“Transaction management systems contain some of the most personal and sensitive information in real estate,” said Gregg Larson, CEO of Clareity Security. The new product can help mitigate risk and liability factors inherent in storing this type of data online, he added.
Clareity Security and Instanet Solutions have completed the SafeTMS integration with TransactionDesk, an online transaction management system available to more than 195,000 real estate professionals. Integrations and pilot programs are also planned for other transaction system providers, including First American Real Estate Solutions and Fidelity National Real Estate Solutions.