Quebec notaries pave the way for electronic fund transfers
A new secure solution tailored to the needs of consumers
QUEBEC CITY, Nov. 21, 2013 /CNW Telbec/ - The Chambre des notaires and TELUS are pleased to offer Quebec notaries and their clients a unique technology enabling electronic fund transfers for real estate and other payments. Thanks to Assyst Payment, a solution developed by TELUS, these transactions will henceforth be concluded more quickly and easily while continuing to comply with the strictest security standards of the industry set forth for notaries and their clients.
Notaries are called upon to receive and transfer funds for a multitude of transactions. Currently, these financial transactions are made using traditional methods such as cheques or bank drafts. Estimated at more than $61 million annually, these transactions require time and travel on the part of both notaries and their clients. Unique and unprecedented in the Canadian professional system, this electronic transfer solution enables the direct disbursement of funds between clients' accounts and their notaries' trust accounts at minimal cost to users.
Safeguarding the public trust is a CNQ priority
"This electronic fund transfer solution is undeniably modern and efficient. However, our primary goal has always been to continuously raise the bar in terms of public protection," said la Chambre des notaires' President Jean Lambert. "The introduction of this solution will vastly improve our ability to oversee and monitor the trust accounts held by notaries," he added.
The development of this electronic fund transfer solution was entrusted to TELUS. The company brings proven expertise in secure transaction-based solutions, notably with its Assyst Real Estate solution. This portal enables mortgage-related transfers and processing between notaries and financial institutions, and is currently used by 92 per cent of notaries in the real estate sector. "In our view, using TELUS to develop and deliver a solution to facilitate electronic fund transfers between notaries and their clients was the next logical step because it enabled us to build on a proven platform," noted la Chambre des notaires' Director Christian Tremblay.
Buying or selling a property often entails numerous time-consuming and complex transactions. "In working with the CNQ to develop Assyst Payment we have created technology that makes their members' work a little easier and allows them to offer even stronger customer service, while maintaining the highest level of security," said Paul Lepage, President of TELUS Payment Solutions. "The result is very consistent with our own drive at TELUS to put customers first in all we do, creating technologies and services that meet their needs."
SOURCE Chambre des notaires du QuébecFor further information:
Communications Director, Chambre des notaires
TELUS Media Relations