FundingShield Announces Integration with OptiFunder to Deliver Integrated Fraud Prevention Services

FundingShield Announces Integration with OptiFunder to Deliver Integrated Fraud Prevention Services

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FundingShield, a market-leading 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 innovative solutions power automation from mortgage loan funding, through the warehouse and investor delivery process. The integration will further drive ROIs to independent mortgage bank and warehouse lending clients that OptiFunder and FundingShield serve delivering on their common goals of funding process optimization, fraud prevention and cost savings. Together, the firms hope to protect financial institutions from the rapid increase in wire and title fraud in recent years with an integrated offering.

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FundingShield & OptiFunder enter into an integration agreement providing integrated wire and title fraud prevention solutions to clients (Graphic: Business Wire)

Data security, payment risk and cybersecurity risks are top of mind in the mortgage and banking space. Lenders need tools to provide verification and validation of information in real time ensuring inconsistencies are resolved and potential frauds are prevented. FundingShield has the largest repository of live, real time, source data verified licensed closing agents with over 95% market coverage. 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. This will drive further data integrity, bank account verification, counterparty compliance along with the process optimization that OptiFunder deliver connecting primary and secondary markets.

“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,” said Mike McFadden, OptiFunder’s CEO.

“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.”

About OptiFunder

OptiFunder, founded in 2018, is a leading innovator in the mortgage industry, offering real-time, data-driven solutions to optimize loan funding and connect stakeholders in the warehouse funding process. Their automated Warehouse Management System (WMS) streamlines data submission between originators, warehouse lenders, and capital markets. Building on the success of its WMS, OptiFunder launched Greyhound, a modern management system for warehouse lenders that enhances efficiency, security, and scalability. OptiFunder is committed to delivering advanced solutions that address the evolving challenges of the mortgage industry and bridge the gap between the primary and secondary markets.

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 2019-2023; 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).