SoftPro released a new application, SoftPro Banking, for sending and receiving wire transfers from within its closing and title platform, SoftPro Select.
With SoftPro Banking, users can manage wire transfers from a network of integrated banks from across the U.S. The application allows users to receipt incoming wires into the appropriate ledger and for the initiation of wire transactions directly from SoftPro Select and, upon internal approvals, have those requests securely sent to the participating banks for processing.
“The security and integrity of funds is paramount to every real estate transaction, and SoftPro Banking streamlines the processing of both incoming and outgoing wire transfers for our customers,” SoftPro Chief Customer Officer Patrick Hempen said in a release. “Having those funds tied directly to associated trust accounts maintains an audit trail while securely receipting and disbursing funds to and from integrated lenders.”
With SoftPro Banking a user can search incoming wires by numerous fields, including the trust account, received date, amount, status, federal reference number, ledger ID, and originating bank. Users can search outgoing wires by trust account, last modified date, ledger ID, amount, and status and then perform actions such as approving or rejecting the transaction.
Security permissions allow for the designation of specific users as “approvers” for outgoing wires in addition to approval limits for those designated approvers.