FundingShield announced a strategic partnership with Tata Consultancy Services (TCS) with goals to expand access to wire fraud prevention within the financial services industry.
“TCS’s global presence, business acumen, and trusted relationships with the world’s largest financial institutions will allow FundingShield to deliver its innovative products straight to the banks who need them the most,” Ike Suri, CEO of FundingShield, said in a release. “The safest way to verify information is through automated, real-time, source-data verification, which is FundingShield’s expertise. We look forward to bringing our automations to more of the top U.S. banks, GSEs [government sponsored enterprises Fannie Mae and Freddie Mac], and to numerous other sectors where TCS has deep domain knowledge and experience.”
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with businesses for over 55 years. Its portfolio of business, technology and engineering services and solutions is delivered through its location-independent Agile delivery model.
“Wire fraud prevention has become a mandatory capability as part of any mortgage solution, protecting lending institutions from multi-million-dollar risks to the third-party closing, title, and settlement entities,” said Santhosh Ananthakrishnan, global head – mortgage strategic initiatives, TCS. “We are thrilled to integrate Funding Shield’s award-winning capabilities to deliver superior verification services for our financial services customers.”