New mortgage fraud alert software to be developed

New mortgage fraud alert software to be developed

fraud

Technology solutions provider Milestone is to develop a mortgage fraud alert software system with Conveycentric Ltd.

Conveycentric has launched risk management products, including LENDERmonitor and COMPLETIONmonitor and, with the Council of Mortgage Lenders (CML) and fins in the Professional Indemnity insurance market to provide software services to the legal industry. These solutions assist with compliance within the conveyancing process and provide law firms with an audit trail as a result of their use.

Milestone has agreed to establish a mortgage fraud alert system under which a number of its strategic partners and relationships with a proven track record in the security and risk, law enforcement, legal and financial services sector will be engaged to develop this product for the purposes of problem solving and crime prevention.

COMPLETIONmonitor assists property lawyers to purposefully address the areas of greatest concern within the conveyancing process including failure to register title and non compliance with lender requirements.

Simon Seaton, co-founder of Conveycentric, is to join the Milestone management team.

David Ryb, CEO of Conveycentric, said: “We are delighted to partner with Milestone who have put together a team of experts in the field of security and who have a proven pedigree in building enabling technology making use of skill sets in evaluating data and integrating with the relevant intelligence or regulatory industry.”

Deborah White, Milestone’s CEO, said: “We are looking forward to working with the team at Conveycentric and introducing them to our partners. The possibilities for this product, once linked with these partners, to assist with data sharing and crime prevention are extensive.”