19JUNE 2020products, namely, the Guardian Service, Wire Account Verification Service (WAVS), and Service Provider Compliance (SPC) offerings.Delving deeper, the Guardian product Service is a comprehensive transaction-level certification that is designed to aid clients in verifying, validating, and vetting all the stakeholders involved in a transaction, thereby minimizing the opportunities of wire and title fraud. "Our Guardian solution has a transaction level coverage of up to USD 2 million, which is unique in today's housing industry," adds Suri. FundingShield's WAVS product is precisely focused on ensuring that a client's mortgage-related wire transfers reach the intended party in a safe and timely manner as a form of payee validation. The WAVS solution is used by lenders or consumers to ensure that all their leads can effectively perform wire transfers and complete their transactions securely. WAVs add additional value through its rich data that can recognize fraudulent parties or entities that do not have the licenses to conduct settlement services. WAVS also aids consumers purchasing a home in overcoming the market vulnerabilities specific to borrowers who have been the target of the rising amount of attacks. Lastly, FundingShield's SaaS-based SPC solution help lenders, investors or other real estate finance-focused entities automate their documentation submission by collecting housing vendor data where the tools manage the assessment and approval process in a secure, controlled and audited environment. SPC expands and enhances a bank's vendor repository and helps them keep track of any changes in their licensing status and other critical regulatory requirements in real-time. As a result, lenders can safely collaborate with validated and vetted vendors, thereby minimizing their losses and driving better relationship with approved and compliant vendors they transaction with as part of daily operations. "Stitching together our solution as part of risk, operations and control framework delivers a comprehensive solution not just for preventing wire and title fraud, but for enhancing asset quality, controls, and the efficiencies of vendor management that result in cost savings and gathering of real-time actionable intelligence," mentions Suri.FundingShield has ignited several successful mandates over the past few years. In one case, the company helped a top 10 U.S. money lender efficiently transition the workforce into a work-from-home setting without interruption to closing processes and maintained risk standards. "In this project, the client wanted a proven, seamless, plug-and-play solution that could integrate quickly and be used effectively by the staff. We were able to deliver this in the middle of a global pandemic as risk increased systematically while preventing several fraud attempts and improving title procurement and documentation relative to pre-pandemic challenges the client faced," states Suri. With FundingShield's portfolio, the customer was able to manage its transitioning workforce while ensuring that all their operations were performed safely and seamlessly regardless of their employees' location.Moving into the future, FundingShield aims to expand its workforce's technical and professional competency adding to its experts from the Fintech, cybersecurity, mortgage, analytics, and software development arenas. Concurrently, the company is collaborating with several financial institutions and strategic partners to pave the way to continue its significant growth in the coming years. To conclude, Suri reiterates FundingShield's mission, "We want to deliver world-class, cutting-edge solutions in the mortgage FinTech arena and be true to our partners while helping them resolve wire and title fraud and compliance issues." We provid eplug-and-play, cloud-based, risk-free, and highly scalable solutions to aid our clients protect their housing and title transactions with ease
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