Fast, trusted and secure identity checking technology
LMS, the UK’s leading panel management specialist has launched confirmly, a secure law firm checking technology designed to reduce risk and prevent fraud when transferring conveyancing funds.
confirmly reviews the bank details provided against their specialist Panel Link database in addition to gathering information from trusted 3rd party sources to help reduce the risks associated with money transfers. We are delighted that confirmly searches can be performed via Redbrick in version 25, allowing you to check the details provided by the law firm and make your conveyancing matters more secure.
Importantly, and uniquely, LMS are offering an indemnity of up to £250,000 which means you are covered in the event that the information provided or confirmed by LMS through a ‘match’ result leads to funds being sent to an incorrect recipient. The indemnity is only valid for funds transferred on the day the search is ordered.
Redbrick will automate confirmly searches for you and verify the details which will surface in RPM with a ‘match’ type status similar to that of the AML checks allowing your colleagues in the finance team to transfer any money with complete confidence. LMS’ service is robust and the indemnity offered provides a significant advantage over similar services in the sector.
If your client is buying then there may be a requirement to conduct two searches (one at exchange stage and one at completion stage), especially if you want the benefit of the indemnity.
For further information on confirmly please visit: confirmly.co.uk
If you would like to take advantage of our integration with confirmly, then get in touch with the Redbrick team today.