NEWPORT BEACH, Calif.--(BUSINESS WIRE)--FundingShield announced that its Chairman Ike Suri would be taking the role of CEO, partnering with the firm’s President, Adam Chaudhary to execute the firm’s growth strategy.
Adam commented, “Ike brings 25 years of experience and relationships as a principal and operator in private equity, technology, human capital management and strategic situations. He has led various efforts in financial services, banking, technology solutions and investments. The valuable risk management and technology aptitude he brings is already reflected in the strategy, operations and product offering at FundingShield.”
FundingShield’s technology-enabled services verify & validate the documents and the parties at the transaction level of loan settlements allowing the firm to facilitate cost efficient and highly accurate services. The firm‘s tools reduce settlement risk, fraud and losses in the mortgage settlement process. The firm responded to client needs for more cost efficient services by optimizing its regulatory technology (reg-tech) tools and providing solutions starting at $5 per transaction.
“Our unique third-party oversight approach directly addresses the issues mentioned in an article dated October 4, 2016 from the Mortgage Bankers Association (MBA) entitled Fraud as a Compliance Issue. Our platform can maintain a live 3rd party approval list, create incident or escalation logs and place controls on the use on unapproved parties within the recent examination guidance from the OCC,” added Ike.
FundingShield believes that regulated entities require effective oversight of third party relationships especially when large sums of client funds or assets are being handled. “Our technology platform is ready for a plug & play adoption for upcoming solutions utilizing blockchain technology,” shared Ike Suri. The firm is busy working with various warehouse, retail, wholesale, construction lenders, private lenders and insurance companies. Please contact Sales@fundingshield.com or call (800) 295 0135 ext 2 for further information.