Digital payment solution provider DirecFunds named Ed McDonnell to its board of directors. He has served the financial services industry for over 20 years, with much of that experience focused on the closing and settlement phase of the mortgage transaction.
DirecFunds is the developer of an electronic payment system designed to eliminate wire fraud in business transactions for multiple industries, including mortgage, real estate and settlement services.
“Cybercriminals have found the real estate industry to be an easy and rewarding target in recent years, which has resulted in the loss of millions of dollars,” McDonnell said in a release. “DirecFunds has developed a solution that will dramatically improve the way real estate, mortgage and title businesses protect themselves, clients, buyers and sellers from fraud risks, and it’s a privilege to be a part of that process.”
McDonnell is the CEO and founder of Columbia, S.C.-based McDonnell and Associates, a multi-state general practice law firm with an emphasis on real estate law, title development and settlement services. He also is the owner and president of Boomerang Title and real estate-focused businesses ProcessFast.