Radian Group Inc. announced a collaboration with R3 to modernize and enhance the title insurance, closing, and settlement services process. The new Titlegenius platform, provided by Radian Settlement Services Inc., utilizes R3’s Corda blockchain technology. This initiative aims to bring increased transparency and simplification to the U.S. real estate market.
The Titlegenius platform functions as a workflow management tool and system of record, offering real-time status updates to buyers and their agents. By leveraging Corda for secure document storage and data transfer, the platform is designed to simplify and accelerate property title transfers, improving visibility throughout the transaction lifecycle.
This technological advancement is expected to reduce risk and improve operational efficiency through secure and immutable transactions. Customers using Titlegenius can achieve average savings of 25% on closing costs compared to other providers, enhancing Radian's competitive offering in its real estate services segment.
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