Alanna.ai and Settlor are teaming up to develop technology solutions to help title and escrow companies comply with new federal regulatory reporting requirements under the Financial Crimes Enforcement Network (FinCEN) Anti-Money Laundering (FinCEN) rule, which are scheduled to take effect March 1.
The integrated solution provides users of Settlor’s provider-agnostic title production system with options to access Alanna’s or Settlor’s FinCEN-related tools.
Users of Settlor's title production technology may now access Alanna’s communication, digital signing and data collection tools, designed to streamline compliance with new reporting requirements mandated by the rule.
Users will also continue to have access to Settlor’s native solutions, which address many of the rule’s expected challenges through Settlor's secure portal. The solution enables users to manage the entire lifecycle of FinCEN-applicable transactions, from data collection to work queues that organize transaction status to integration with FinCEN’s reporting interface. The platform also provides a dashboard that enables managers to track the status of reportable transactions from collection to submittal.
The collaboration reflects both companies' commitment to giving title professionals the freedom to choose technologies that fit their operational needs rather than forcing them into proprietary systems.
The reporting requirements for FinCEN’s AML rule, effective March 1, will impact non-financed residential property transfers to legal entities or trusts nationwide. The rule broadly defines residential property and includes some vacant land and commercial properties.
John Freyer, Settlor’s president and co-founder, said the collaboration exemplifies the importance of interoperability in title technology.
“Interoperability is something the title industry needs now more than ever,” Freyer said in a release. “Our clients consistently tell us that being able to work with the banks, the underwriters and the technology providers they trust most — often on a file-by-file basis —is critical to their success,” Freyer said. “That usually means something different from business to business, market to market and order to order. One firm may need one combination of technologies and underwriters for their needs, while the next may want a completely different blend.”
Hoyt Mann, president and co-founder of alanna.ai, said the collaboration ensures title agents can access best-in-class compliance tools without being forced into a single vendor's ecosystem.
“The closing process is already controlled chaos, and a number of agents have told us the new data gathering and reporting requirements will likely only add to that,” Mann said. “However, our Alanna Smart Forms and digital signing capability users have told us that our solution significantly streamlines the execution of these new requirements, not to mention easing some of the anxiety and stress agents are feeling in advance of the looming deadline.”
Mann added that the partnership with Settlor demonstrates the industry’s recognition that technology choice matters.
“By working with open platforms like Settlor, we ensure agents can adopt the specific tools they need without having to replace their entire technology stack,” he said. “This is about empowering title professionals to make the best decisions for their unique businesses.”
Alanna.ai's Smart Forms includes a specialized form supporting the AML’s mandatory data gathering process. The system includes automated reminders for form completion and digital signing, integrated with a cost-effective signing approach.
The digital signing capability utilizes cryptographic technology, specifically public-private key encryption, to bind the signer’s identity and document contents together. Any change after signing will invalidate the signature. The technology demonstrates signer authenticity, proves document integrity and eliminates signer repudiation.
Freyer said Settlor's and Alanna’s approach stands in contrast to closed-system technology providers that limit integration capabilities or require costly customizations. "When an agent's technology choices expand, rather than limit, their options for partnerships, it only improves their overall success rate," he said. "This is the future of title technology—interoperability, choice and collaboration. Settlor's commitment to openness and connections reflects the real-world needs of title professionals who have long relied on combining specialized solutions and relationships from multiple providers to serve their clients effectively."