Factom, Inc., a Blockchain as-a-service (BaaS) technology company announces the release of Factom Harmony Audit Room, Due Diligence Room, and Servicing Room. Built within our mortgage-based solution, Factom Harmony, this new suite of products will allow new digital functionality that was never possible before.
The Harmony suite of products works in conjunction with DigitalVault, Factom’s first product which creates a comprehensive, secure and unalterable document catalog. Factom’s new document management technology works as a simple extension of existing imaging technology. Their mortgage suite of products utilizes the Blockchain based DigitalVault to create unique solutions for regulatory compliance, quality control, due diligence, and servicing audits and compliance.
The Factom Harmony Audit Room is designed to support compliance evidence, quality control functions and allow internal and third parties to audit files, facilitate origination, and support post-closing reviews based upon the immutability of Blockchain technology.
The new Due Diligence Room is designed for loan sales, securitization, and non-performing loan trading. It builds upon the power of Blockchain technology to create a perfected chain of credit, collateral and compliance review data and documents.
The new Servicing Room solution creates a unique and unalterable record of borrower communications, documentation, and data. Designed for both current and delinquent loans, the Servicing Room creates an indisputable and permanent record of all servicing events with a public witness via the Factom Blockchain. The Servicing Room significantly reduces servicing costs by creating provable evidence of compliance. It also reduces the preparation time and risks of audits, servicing transfers, and foreclosure processes.
Factom, Inc. is an Austin-based software company that’s on a mission to make the world’s systems honest. People and institutions today can solve hard problems and change the world for the better when they have a reliable framework to build upon. Factom creates resilient software and systems that are secure and shareable through the power of innovative Blockchain technology.
Factom is working with the Department of Homeland Security and the Bill and Melinda Gates Foundation to create new ways of securing records. Their new Blockchain-based software system for recording, managing, and sharing records is ready for the future, with safeguards to make sure sensitive information is appropriately shared, respecting the privacy and safety of all.
- European Commission Releases New Support Paper on Blockchain – Further Funding for Startups Encouraged - September 19, 2019
- Bitpay Opens Up Doors For Ethereum Payments - September 16, 2019
- Neufund Launches Blockchain-Driven Equity Token Sale for Retail Investors Out of Lichtenstein - September 16, 2019
- London Blockchain Accelerator Academy Looking for Partners - September 13, 2019
- Blockchain Startup Blockstack Raises a Whopping $23 Million In SEC-Qualified Reg A+ Token Offering - September 12, 2019
- France Vows to Block Facebook Libra Cryptocurrency in Europe - September 12, 2019
- R3 and Mastercard Team Up Mastercard to Build Overseas Payments System Build on Blockchain - September 12, 2019
- ConsenSys Officially Joins Hyperledger Project – Adding Public Blockchain Capability to Hyperledger - September 11, 2019
- Telegram Open Network Labs Releases Development Suite for TON Blockchain - September 11, 2019
- Whale Alert: USD One Billion+ BTC Was Transferred in One Transaction Last Week - September 11, 2019
- New Professional API Trading Program AlgoX Prime API Launched by eToroX - September 11, 2019
- Bitcoin.com’s Roger Ver Steps in to Operate Node on Cryptographer David Chaum’s New Elixxer Project - September 11, 2019
- Seychelles Heats Up With a First for a National Stock Exchange – MERJ Exchange Goes Live with Tokenized IPO - September 10, 2019
- Computing Legend Steve Wozniak To Launch Blockchain Energy Project – EFFORCE - September 10, 2019
- Hollywood Star Wesley Snipes To Tokenize $25 Million USD Movie Fund with Liechtenstein Blockchain Innovator LCX - September 9, 2019
- Netki Extends TransactID Solution For FATF “Travel Rule” Compliance - September 9, 2019
- Market Demand For Sophisticated Crypto Trading Methods Drives Singapore’s Broctagon Fintech Group To New Heights – Pushing Them Past $5 million - September 5, 2019
- London-based Custodian For Digital Assets, Copper, Reach $500m In Transactions In Just Three Months - September 5, 2019
- UN Meeting: Gibraltar Lawyers Call For A Global Regulatory Framework For Cryptocurrencies - September 4, 2019
- Michael Terpin’s BitAngels Investor Network Partners with Bitcoin Bay to Expand Blockchain Investment Ecosystem in Toronto, Canada - September 3, 2019