Flueid Receives Patent for Title Search Decisioning Platform
August 24, 2021
Texas-based Flueid has received a patent for its technology that the company says centralizes and automates the title clearance decision in less than a minute.
The U.S. Patent & Trademark Office issued the patent for the Flueid Decision (formerly Insurful) platform. The system can be integrated with the core operating systems of point of sale (POS) platforms, lender operating systems (LOS), title production systems (TPS), servicing platforms and marketplaces.
First launched in mid-2020, the Flueid Decision platform uses traditional and nontraditional data sources, proprietary logic and insights in its search processes.
Peter Bowman and Peter Richter self-funded the launch of Flueid Software Corp. in July 2017. Both were executives at Title365, which was acquired by Blend from Mr. Cooper Group earlier this year for approximately $422 million.
“For nearly 20 years, our leadership team has been on a journey to modernize the real estate transaction using data and technology,” Bowman said. “Our goal is to deliver trusted digital decisions to our partners that don’t replace, but support, their businesses. That’s why we’ve created a truly independent, multi-tenant solution that can power multiple decisions and provide clients with greater visibility and choice in their workflows no matter where a partner sits within the transaction ecosystem.”
The platform achieved SOC 2 Type 1 compliance in March 2021 and Type 2 compliance as of June 2021, validating its data security controls and best practices.
In July, Fluied acquired Vodii, a developer of software tools for the title and escrow industry.
“We built Flueid from the ground up with security and data handling at our core, putting thought into the architecture and design to ensure it would support the control framework that allows the customer to control their own data,” Richter said. “Our agnostic, multi-tenant platform allows for a unique, future-proof environment for each client. We then transfer ownership and management to each client to ensure their data, and their client’s data, are both physically and logistically separated from other clients or outside access.”
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