LOCAL FINTECH STANDOUT EARNNEST EXPANDS NATIONAL PRESENCE
Real estate startup provides fully digital earnest money experience to half a million agents across the U.S.
GREENVILLE, SC (Jan. 13, 2019) – Earnnest, the future of real estate payments, recently expanded its real estate footprint; the industry’s most secure and innovative digital earnest money tool is now available to more than 500,000 agents nationwide. To date, thousands of earnest money deposit have already been processed through the proprietary digital tool.
In September, Earnnest announced a strategic partnership with Lone Wolf Technologies (“Lone Wolf”), the North American leader in residential real estate technology. The partnership integrates Lone Wolf’s industry-leading transaction management solutions, zipForm® Plus and TransactionDesk, with Earnnest’s secure earnest payment platform to digitize the entire earnest money deposit (EMD) process for real estate agents, brokerages and consumers.
“We’re thrilled about the success of our newest integration partner,” said Rick Altizer, CEO of Earnnest. “The early wins we’ve seen from this partnership are positive indicators for the national partnerships we’ll be launching later this year.”
Altizer, an experienced leader and startup pioneer, was recently selected as a 2020 RISMedia Real Estate Newsmaker. The award is given to real estate professionals who made headlines in 2019 as a result of their newsworthy contributions to the industry, to real estate agents and to the consumers they serve.
And as far as headline-making goes, Earnnest dominated in 2019. The Greenville, S.C.-based startup was named a finalist in the National Association of REALTORS® iOi Summit Battle. It also announced a strategic alliance with Redfin and a partnership with the fastest-growing title company in the DMV (Washington, D.C., Virginia and Maryland) area, Allied Title & Escrow.
“The ability for buyers to pay earnest money from anywhere at any time with no paper checks required is a huge competitive advantage for agents around the country,” said Daniel Jeffords, chief technology officer at Earnnest. “Unlike checks or wires, Earnnest protects sensitive information, features easy reconciliation, provides automated receipts and tracks the status of every payment.”
To mitigate security risks resulting from wire fraud, Earnnest utilizes an innovative and proprietary way of completing digital money transfers. In the Earnnest system, a buyer must be partnered with a financial institution and have a verified bank account attached to a verified bank to initiate a transfer. Plus, the identity of a remitter is also always verified, and the escrow holder and buyer never share account or routing information.
“Digital earnest money used to be a thing of the future,” said George Clements, Earnnest co-founder and Greenville-S.C. mega agent. “With Earnnest, the future of digital earnest money is now.”
Greenville, S.C.-based Earnnest is changing the way money moves in real estate. The digital platform allows buyers to securely and electronically deposit funds directly to an escrow holder. Earnnest keeps agents, buyers and escrow holders in the loop with automated emails and tracking information. Learn more at Earnnest.com.
Melissa Kandel | Chief Marketing Officer, Earnnest
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