Company Announcements

NEWPORT BEACH, Calif. & SAN DIEGO--(BUSINESS WIRE)--Feb. 21, 2024-- FundingShield, a market-leading fintech providing plug-and-play solutions to manage risk, compliance, and fraud prevention, has entered into a relationship with CoreLogic^®, a leader in global property information, analytics and data-enabled solutions, to provide comprehensive title fraud solutions via a seamless API integration to the CoreLogic Digital Mortgage Platform™. Together, the companies are working to protect borrowers and financial institutions from the rapid increase in wire and title fraud in recent years, delivering superior standards in data integrity, bank account verification, and counterparty compliance.

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FundingShield Announces Integrated Title Fraud Prevention Services on CoreLogic’s Digital Mortgage Platform (Graphic: Business Wire)

Wire and title fraud risk reached an all-time high in Q4 2023 with 51.8% of transactions having issues that led to a risk of wire and title fraud (citation). As data security, payment risks, and cybersecurity threats have become more pervasive in the banking space, companies need access to solutions to help them minimize this risk.

With this new integration, CoreLogic Digital Mortgage Platform™ clients can now access FundingShield’s cost-saving and risk-reducing ecosystem of applications to protect against wire fraud and efficiently manage their risk and compliance as part of their existing mortgage closing workflows. FundingShield’s live ecosystem of service provider source bank data is one of the largest in the industry with over 95% coverage.

“Wire fraud prevention is a growing challenge and rising priority for CoreLogic clients,” said Bob Jennings, Executive, Collateral & Risk Solutions at CoreLogic. “As cyber-based threats hit the mortgage, title and real estate segments and payment-related fraud increases, our integration with FundingShield will allow our clients easy access to risk management solutions to address these concerns.”

“CoreLogic is the intersection of the data used to drive the mortgage and real estate markets,” said Ike Suri, CEO of FundingShield. “As clients seek automated solutions to drive ROI, we are excited to deliver FundingShield’s cutting-edge financial technology CoreLogic clients to help combat wire fraud. Our expertise is in providing automated, real-time, source-data verifications for compliance and risk management. We look forward to bringing our automations to more of the top US banks, residential and commercial real estate lenders where CoreLogic has deep domain knowledge and experience.”

About CoreLogic

CoreLogic is a leading provider of property insights and innovative solutions, working to transform the property industry by putting people first. Using its network, scale, connectivity and technology, CoreLogic delivers faster, smarter, more human-centered experiences that build better relationships, strengthen businesses, and ultimately create a more resilient society. For more information, please visit www.corelogic.com.

About FundingShield

FundingShield is a FinTech offering B2B & B2B2C solutions delivering transaction level coverage against wire & title fraud, settlement risk, closing agent compliance & cyber threats while reducing operating costs and improving asset quality for US real estate investors and U.S. mortgage finance companies. FundingShield’s user-centric, plug-and-play tools are scalable, pay-per-transaction, secure, cloud-based and are integrated via APIs or intelligent UIs driving a client ROI of over 400% on operational cost savings alone.

FundingShield is a 6-time HousingWire TECH100 Winner for 2019-2024; CFO Tech Outlook Top 10 Financial Security Solution Provider for 2021, 2022; Inc. 5000 award recipient for 3 years in a row 2021-2023, California Mortgage Bankers Association Tech Innovator, an ICE Mortgage Technology (InterContinental Exchange – parent of NYSE) Encompass partner, a Tata Consulting Services "TCS" partner (NSE: TCS), and a MasterCard partner (NYSE: MA).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240221046714/en/

For more information or media inquiries contact:
info@fundingshield.com

Source: FundingShield