Rynoh is set to add account verification services to its all-in-one software bundle in January. The software upgrade will allow title and escrow agents to confirm critical account information before sending a wire transaction.
The service, RynohVerifi, is available to clients and new customers as part of Rynoh’s bundled services, which includes automated escrow reconciliation, escheatment, operation account management and now account verifications.
“Preventing wire fraud is a top priority for everyone involved in real estate transactions,” Rynoh General Manager Jim Weld said in a release. “We are excited to launch this valuable platform as it provides fraud protection and banking integration services for our clients. We are committed to working with our clients and industry partners to make the real estate closing as safe and secure as possible.”
RynohVerifi will help simplify the complex and highly regulated account verification process, assisting clients to stay protected against fraud and monitoring the disbursement of daily funds. Currently, almost 40 percent of all U.S. residential purchases and refinances are protected by Rynoh.
“This service is just one more way that Rynoh helps our clients manage their escrow accounts, eliminate compliance risk, and provide a robust funding environment,” Weld said. “This launch is a great example of how our team is continuing to develop new products to support our clients’ needs for the challenges of tomorrow.”