Westcor Global has added a tool designed to help prevent wire fraud through instant wire instructions verification to its Closepin platform, the company announced. Closepin is an automated compliance and risk management program.
“Lenders are looking for ways to reduce the time and hassle of verifying closing agent wire instructions prior to sending their wire. And closing agents are looking to work with lenders to reduce risk and prevent fraud. Closepin’s newest tool provides the solution,” Westcor Global Executive Vice President Ryan Peterson said in a release.
“Closepin is a partner to lenders and closing agents that reduces risk by retrieving, storing and updating closing agent compliance documents and data, and now we can verify the wire instructions for those closing agents as well.”