FundingShield, a fintech providing plug-and-play solutions to manage risk, compliance, and fraud prevention, has entered into an integration agreement with OptiFunder, the creators of OptiFunder WMS and Greyhound Warehouse Management System, whose solutions power automation from mortgage loan funding, through the warehouse and investor delivery process.
Together, the firms hope to protect financial institutions from the rapid increase in wire and title fraud in recent years with an integrated offering.
“Wire fraud prevention is a key priority for OptiFunder clients, as payment-related fraud grows our integration with FundingShield will deliver integrated and automated risk management solutions to address the evolving threats,” Mike McFadden, OptiFunder’s CEO, said in a release.
Clients of OptiFunder will be able to benefit from direct access to FundingShield’s cost-saving and risk-reducing ecosystem via API and data-integrated solutions. Leaders said this will drive further data integrity, bank account verification, counterparty compliance along with process optimization.
“OptiFunder has created solutions that streamline many of the funding related tasks that Independent Mortgage Banks need to find efficiencies to be competitive. Their and our tools are designed to bring technology into the hands of decision makers to attack the dual high priorities of risk management and process improvement via automation,” said Ike Suri, CEO of FundingShield. “Our expertise is providing automated, real-time, source-data verifications for compliance and risk management. We look forward to bringing our automations to more of real estate ecosystem in our partnership with the OptiFunder team.”