LMS launches confirmly to safeguard conveyancing process

LMS launches confirmly to safeguard conveyancing process

LMS, the UK’s leading panel management specialist, has announced the launch of confirmly: a fast, trusted and secure law firm identity checking technology, designed to reduce risk and prevent scams when transferring conveyancing funds and client monies.

Confirmly provides real time monitoring for law firms by harnessing LMS Panel Link and specialist data to verify bank account details. In addition to the utilisation of LMS Panel Link, confirmly also has access to eCOT expertise, as well as gathering information from trusted third party sources to help reduce the risks associated with money transfers. Law firms can, therefore, be confident that transactions are being sent to genuine bank accounts and firms, providing them with greater peace of mind, so much so that LMS will provide law firms with an indemnity against the results.

The new service is launching exclusively with InfoTrack via API, and will soon be available via other integrators and direct via www.confirmly.co.uk.

Scott Bozinis, CEO at InfoTrack, said:

“We are excited to be the first integrated partner to offer LMS’ confirmly through our platform.

Both InfoTrack and LMS are committed to collaborative innovation and confirmly is an exciting addition to our award-winning solutions.

The benefits of confirmly being indemnified, as well as being simple and easy to access, make this a great tool in the fight against fraud and reducing transactional risk.”

Travis Scholes, Commercial Director at LMS, said:

“At LMS we are dedicated to making the mortgage market a more secure and reliable place to do business. We have identified from our systems that there is nearly there is nearly a 5% mismatch rate when law firms are checking their data before transferring funds*. The fact that we are providing an indemnity demonstrates our confidence in our product and serves as an extra level of security for our law firm users.

We are really excited about confirmly’s integration with InfoTrack. Collaboration is at the heart of our strategy and we want to ensure that all of our services are as accessible as possible to the sector.”

 

LMS

https://corporate.lms.com

LMS November remortgage snapshot LMS is the UK’s leading provider of conveyancing services. We have been providing mortgage lenders, legal firms, brokers and home buyers with a range of services for over 25 years and have the expertise and experience to help make the mortgage market a safer more reliable place to do business. LMS provides everything from fees assisted remortgages to wider transactional panel management. Our service is designed to meet the needs of everyone involved in the conveyancing process, helping make everything quicker, easier, more efficient and more secure. We have taken a leadership position in the development of digital technology for conveyancing, and our robust digital roadmap and delivery programme has enabled us to innovate industry processes. We have invested in transformative technology, collaborating with regulators, system providers, land registry, trade bodies, lender community, intermediaries, law firms and customers to ensure the results make a real difference. Our technology remains fundamental to our success, and we continue to invest in improving and streamlining the customer journey. We have focused heavily in both our service and technology infrastructure for all core stakeholder groups. LMS is proud to work with an extensive lender portfolio, and also delighted to continue to welcome new clients to our customer base. With a busy mortgage industry and the addition of new clients, our market share has significantly grown. We are a technology business with people who listen and support progress. We are trusted by over 30 lenders, and work collaboratively with virtually every law firm in the UK. Key Services

Address: LMS Bickerton House Lloyd Drive Cheshire Oaks Business Park Cheshire CH65 9HQ Key Contact: Email: lenderpanels@lms.com Tel: 0343 221 0700

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