Real Estate Development Fund vs mPass Authenticator

The Real Estate Development Fund (REDF) application is a comprehensive digital platform that enables citizens to easily access a wide range of services related to real estate financing and transactions. The application aims to simplify complex procedures while offering convenience, transparency, and speed for all users. Below are some of the key services provided by the application: 1- Request for Financial Statement Service: A service that allows citizens to print a financial statement letter clarifying the beneficiary's financial obligations with the Real Estate Development Fund. Note: The letter is electronically signed and includes a QR code for verification. 2- Property Sale Request Service (from Seller): A service designed to enable borrowers to sell a mortgaged property registered under the fund. 3- Deceased Borrower Exemption Service: A service that allows the heirs of a deceased borrower to apply for an exemption from repaying the remaining loan amount, based on specified criteria. 4- Mortgage Release Request Service: A service that allows borrowers to submit a request to release the mortgage on a property after fully repaying the loan. 5- Activate/Deactivate Deduction Service: One of the services provided by the fund for beneficiaries with direct loans granted by the fund. This service enables beneficiaries to (activate or deactivate) automatic monthly deductions through: * The beneficiary's employer. * A standing order via the bank.

In today’s world, with an increased number of mobile users, the traditional user login method using a simple username and password is not secure enough anymore and poses a high risk to the security of sensitive data. Two-factor authentication reduces such risk by introducing the dynamic password generated using industry-standard event-based or time-based algorithms (HOTP & TOTP). The mPass mobile app provides multi-factor authentication and provides an additional layer of protection from cybersecurity breaches.