Events , Finance & Banking , Governance & Risk Management
E-Closing Platforms Need to Be Trustworthy for Consumers
Snapdocs' CISO Al Ghous on Cyber Resilience and Trust for Customers
The final steps in a mortgage closing process can be both complex and cumbersome for borrowers. It involves a lot of paperwork in the presence of attorneys, title companies and loan officers. This also means multiple visits to their offices. The process is also error-prone. While e-closing platforms and technology are available to simplify all this, resilience and trust actually make e-closing a trustworthy experience for consumers.
See Also: How Enterprise Browsers Enhance Security and Efficiency
Al Ghous, CISO of Snapdocs, said an e-closing platform can save the borrower or consumer a lot of effort and time. Snapdocs is a financial real estate tech company based in San Francisco. Its purpose is to streamline the mortgage closing process, which is very complex and error-prone.
"With an e-closing platform a consumer could be sitting on a beach, looking at documents online and signing those electronically. What's more, consumers or borrowers do not have to be in a title company or an attorney's office with a stack of paperwork and manually signing documents," Ghous said.
Snapdocs established a trust and safety program to get customers or regulator partners to use their e-closing platform.
"The program, which can be accessed through its website, is our approach to cybersecurity and cyber resilience," Ghous added.
In this video interview with Information Security Media Group at RSA Conference 2023, Ghous also discusses:
- Establishing cyber resilience and trust;
- Building security and privacy by design into the software development life cycle;
- Securing customer identities and data in the cloud.
Ghous has been in the cybersecurity industry for more than 20 years in different capacities, from product security and risk management to solution consulting and security architecture. Previously, he was the CISO at Envision Digital and CSO at ServiceMax. He also led cybersecurity, cloud platform and products at GE Digital.
