We are delighted to announce our new partnership with LMS to deliver Confirmly, a fast, trusted and secure law firm identity checking technology.
Part our ongoing commitment to combatting fraud within the conveyancing industry, all X-Press clients can now enjoy access to confirmly through our Intelligent Conveyancing Online System, ICOS.
Confirmly allows the provision of real time monitoring to law firms by harnessing LMS Panel Link and specialist data to verify bank account details. It reduces the risks associated with money transfers and allows the quick and easy gathering of information from trusted third-party sources.
Lynne Lister, Managing Director at X-Press Legal Services, comments: “Customer experience is a huge priority for us and increasing the ease and efficiency with which conveyancing firms can perform identity checks is a huge part of that. We want the journey to be as seamless as possible while also increasing the security and reliability of bank account checks to stop end borrowers falling foul of fraudsters. LMS confirmly is pivotal for us in this regard and provides our clients with yet another fantastic tool to ensure their transactions are safe and protected from cybercrime.”
The integration of Confirmly into ICOS directly addresses growing concerns amongst the conveyancing community regarding rising cybercrime. X-Press selected Confirmly because of its ability to identify fraudulent transactions before any transfer of funds. In October 2022, Confirmly successfully identified a 5% ‘No match’ rate and a further 5.5% ‘Match with cautions’ rate, prompting transaction details to be checked before monies were released. These stops not only protected legal clients but also their end customers from fraudulent financial transactions.
“Unfortunately, the way in which cyber criminals work is becoming increasingly sophisticated,” added Lynne. “Trust no-one has to be our mantra when it comes to protecting conveyancing transactions. With Confirmly now part of our product suite, our clients are assured that any suspect transactions will be identified. The safety and security of client data is at the heart of what we do and by providing pioneering products such as Confirmly, we are ensuring our e-conveyancing services remain the safest on the market.”