Plano, Texas, November 14, 2023 – RamQuest, a leading provider of technology-based solutions for the title insurance and settlement industry, released a new version of its Account Verification Services, a program that allows title agents to confirm critical information before sending a wire.
The update contains a redesign of the Account Verification Services user interface, providing customers with a faster, smoother experience while maintaining its wire fraud risk prevention functionality. This includes its wiring instruction validation to confirm the accuracy of bank and routing information, the ability to confirm authorized signatories on an account and user-friendly "traffic light" results to enhance and automate business decision processes.
“Using Verification Services was an automatic ‘yes’ for us,” said RamQuest customer Richard Norris, President of Network Closing Services, Inc., “The minimal fee per transaction to verify payoff account information is well worth the significant layer of protection gained by quickly verifying online instead of manually calling for each payoff. The results return almost immediately, and our teams has also experienced a gain in efficiency as the verification automatically uploads to the file.”
According to a report from the Federal Bureau of Investigation, Business Email Compromise is one the fastest-growing and costly internet crimes. It has the largest dollar loss by victim crime amount with an estimated $2.4 billion in adjusted losses in 2021.
RamQuest’s Account Verification Services is available through Closing Market, which enables real-time, two-way communication and collaboration through a single digital connection. Customers seamlessly access these integrations through their RamQuest title and settlement solution. Learn more on the Closing Market website.
RamQuest is a Texas-based corporation that has been serving the title industry since 1991. As the provider of the title insurance and settlement industry’s most comprehensive production solutions, RamQuest products are currently in use for closings in all 50 states. For more information about RamQuest, visit RamQuest.com.