Ascent Technology Receives IPR Certificate for PROMART-Escrow Software From Ministry of Economy, UAE

Dubai, UAE, July 7, 2015 (Newswire.com) - This significant achievement is really a benchmarking for an innovative company in UAE, where innovation and technology are considered to be attributes of growing World Financial Capital.

The Ascent ProMart Escrow Software intends to bring strong Governance, Compliance, Monitoring and Operational Automation of current gaps in the Real Estate Industry, thereby enabling the stakeholders to grow UAE’s Real Estate Market.

The Escrow Software effectively addresses and resolves all the compliance issues of Real Estate Regulatory Authority (RERA), the regulatory arm of Land Department of UAE.  Additionally, the system is designed to create more professional and stable market for investors in Dubai and to establish a legislative legal framework for real estate transactions with state-of-the-art technology.

The system is significantly expected to attract more foreign investments to the market and would definitely harmonize the relationship between the developer, the buyer and the market.

About UAE

The UAE currently leads the Arab World in Intellectual Property Rights (IPR) protection and consistently posts the lowest piracy rates in the region.

UAE is a member of Paris Union and has a comprehensive Patent and Trademark Law.

It has also signed the Berne and Rome Convention on January 12, 2005. It is also a member and signatory to the TRIPS agreement and has entered into an agreement for Gulf Cooperation Council.

The Copyrights Department, under Ministry of Economy, UAE is in charge of applying Federal Laws concerning the author’s right, receiving registration applications, performing renewal and amendment processes, receiving complaints, proposing legislations and follow up international agreements.

Securing intellectual and industrial property protection is a matter of integrity for any nation. The UAE is applauded as a pioneer in protecting Intellectual Property Rights in the region.

In this gesture, it is a remarkable advent of Ascent Technology to receive IPR for its proprietary software. “Ascent is proud to be headquartered in UAE and we are committed to deliver world class niche Software Products to boost growing demand within UAE and GCC countries”, said Mr Kundan Shekhawat, Chief Executive Officer of Ascent Technology Consulting.

Features of ProMart Escrow Management
Ascent ProMart Escrow Management, A web based software, caters to the regulatory and compliance needs of RERA, its affiliated Banks, Property Developers and relevant Stakeholders. It ensures smooth functioning and reporting for end-to-end project, Property & Trust Account Management, including payables and receivables at Project, Master Developer or Country Level.

The proprietary Ascent Software is aligned with ambitions and vision of RERA and automates the manual processes of Trust Account Creation and maintenance along with direct and flexible reporting to keep a strong check and balance in the Industry.

About Ascent

Ascent Technology Consulting is a niche software solution provider focussed in the area of Financial Technology, Risk Management and Business process automation solutions. Ascent runs its base operations from Dubai, UAE with client and office locations across the world. The expertise of the company lies in developing financial technology products with innovative approaches to industry needs, utilizing state-of-the-art technology, backed by commitment to deliver and support these products.