FundingShield has entered into a relationship with CoreLogic 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. Wire and title fraud risk reached an all-time high in Fourth Quarter 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.