New partnership aims to modernize home buying process
FCT has announced the acquisition of a majority interest in Fintracker Inc., an identity verification provider for real estate transactions. According to a news release, the move is intended to modernize identity verification processes, improve compliance with financial regulations, and enhance security in the Canadian real estate market.
By integrating Fintracker’s digital identity verification technology, FCT aims to streamline the home-buying process while ensuring adherence to know your client (KYC) and anti-money laundering (AML) regulations. Fintracker automates identity verification by digitizing forms required by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and other pre-deal compliance processes.
“This investment demonstrates FCT’s dedication to driving innovation in the real estate industry,” said Michael LeBlanc, CEO of FCT. “Fintracker’s advanced identity verification technology combined and integrated with our trusted services will help create a more secure, seamless, and fully compliant experience for all stakeholders, while shaping the future of connected and intelligent identity verification processes.”
Simon Fiore, president of Fintracker, emphasized the impact of the partnership on regulatory compliance and industry efficiency. “Partnering with FCT enables us to scale our mission of simplifying compliance for agents and brokerages across Canada,” he said. “Our shared vision is to minimize friction for both the public and our clients, while raising the bar for KYC and AML compliance. Together, we’re fostering greater trust, transparency, and efficiency in real estate transactions.”
Fintracker’s founders, Fiore and Matt Amihude, will continue leading the company’s growth. The news release noted that the partnership builds on Fintracker’s existing presence among real estate professionals.
FCT, based in Oakville, Ontario, has over 1,200 employees and provides title insurance, default solutions, and real estate-related services to lenders, legal professionals, recovery professionals, real estate agents, mortgage brokers, and builders across Canada.
Fintracker provides digital identity verification and compliance technology for the Canadian real estate market, supporting KYC and AML regulatory requirements for brokerages and agents.
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