FundingShield, a market-leading fintech providing plug-and-play solutions to manage risk, compliance, and fraud prevention, has entered into an integration agreement with OptiFunder, the creators of OptiFunder WMS and Greyhound Warehouse Management System whose innovative solutions power automation from mortgage loan funding, through the warehouse and investor delivery process. The integration will further drive ROIs to independent mortgage bank and warehouse lending clients that OptiFunder and FundingShield serve delivering on their common goals of funding process optimization, fraud prevention and cost savings. Together, the firms hope to protect financial institutions from the rapid increase in wire and title fraud in recent years with an integrated offering.
Data security, payment risk and cybersecurity risks are top of mind in the mortgage and banking space. Lenders need tools to provide verification and validation of information in real time ensuring inconsistencies are resolved and potential frauds are prevented. FundingShield has the largest repository of live, real time, source data verified licensed closing agents with over 95% market coverage. Clients of OptiFunder will be able to benefit from direct access to FundingShield’s cost-saving and risk-reducing ecosystem via API and data integrated solutions. This will drive further data integrity, bank account verification, counterparty compliance along with the process optimization that OptiFunder deliver connecting primary and secondary markets.
“Wire fraud prevention is a key priority for OptiFunder clients, as payment-related fraud grows our integration with FundingShield will deliver integrated and automated risk management solutions to address the evolving threats,” said Mike McFadden, OptiFunder’s CEO.
“OptiFunder has created solutions that streamline many of the funding related tasks that Independent Mortgage Banks need to find efficiencies to be competitive. Their and our tools are designed to bring technology into the hands of decision makers to attack the dual high priorities of risk management and process improvement via automation,” said Ike Suri, CEO of FundingShield. “Our expertise is providing automated, real-time, source-data verifications for compliance and risk management. We look forward to bringing our automations to more of real estate ecosystem in our partnership with the OptiFunder team.”
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