First National Bank of Omaha (FNBO) and ATS Secured have launched a closing solution designed to reduce wire fraud and data errors, shorten closing times, and help settlement agents increase closing volume.
As part of the solution, disbursements are processed in a secure environment that is directly integrated with the bank. All data communications are secure and the disbursement process is controlled with custom rules and permissions.
“At First National Bank of Omaha, we are continuously looking for opportunities to provide value to our customers through new technology. The title and settlement industries have unique needs and we are excited to team with ATS Secured to provide a new money movement solution in a secured and streamlined manner,” FNBO Senior Vice President of Corporate Treasury Services Russ Oatman said in a release.
The solution is available to all existing FNBO settlement and title agents. It also will be offered to other regional settlement agent firms that are not currently conducting business with FNBO.
“Wire fraud is already a big problem and it’s growing faster than ever before,” ATS Secured CEO Wes Miller said. “Consumers’ down payment funds are being stolen. Sellers’ proceeds are being stolen. It’s a big problem. We are excited to be working with First National Bank of Omaha to bring technology solutions that provide real protection to title companies and their home buyers and sellers.”