Title agencies accepting digital funds can seamlessly reconcile bank transactions
Charlotte, N.C., February 22, 2022 – Rynoh, a national financial security software provider serving the title and settlement services industry, and paymints.io, a digital funds transfer provider focused on the same industry, have developed their integration to enable title agencies to accept funds and easily reconcile bank transactions.
Paymints.io subscribers can now access Rynoh’s daily automated transaction retrieval and reconciliation functions directly. The increased efficiency offers comprehensive oversight for faster error discovery, correction, and safeguard against costly fraud. The seamless experience allows title agencies to automatically reconcile and clear the transaction without logging into multiple systems or cross-referencing multiple screens.
Rynoh is a financial security and management software company optimized for the real estate settlement services industry. Its platform offers account auditing, daily reconciliation, transaction monitoring, anti-fraud algorithms, and built-in automated reporting.
Paymints.io’s multi-purpose application is designed to eliminate the need for paper checks and defend against wire fraud. The system not only collects earnest money deposits or cash for closing, but also offers an expansive vendor marketplace featuring real estate agents, mortgage brokers, real estate attorneys, and other service providers who may be due funds or payment at closing. A disbursement to all clients and vendors can be initiated within 60 seconds, eliminating the cumbersome process of printing and mailing paper checks or multiple phone calls to confirm routing and wiring instructions.
“Rynoh has long been a pioneer in the title technology field, and their platform has become the gold standard for the industry,” said Amit Doshi, COO of paymints.io. “We’re honored to collaborate with them to help title agents digitize their operations and start to eliminate the archaic practice of check-writing in the real estate transaction.”
“Our clients rest easier knowing that Rynoh is on the job protecting them and we’re always looking for innovative new ways to do so,” said Rynoh’s EVP of Strategic Partner Relationships, Matt Reass. “We couldn’t be happier about this partnership with paymints.io and the opportunity to provide digital funds transfer users with the same protection as our existing clients through automated transaction reconciliation of funds accessible directly on their paymints.io dashboard.”
On a mission to eliminate paper checks and reduce wire fraud in the real estate industry, paymints.io is the provider of a secure, digital, white-label SaaS platform that allows buyers to transfer funds for many types of real estate transactions. Escrow holders and settlement agents can also disburse funds to clients or vendors using its proprietary platform. In 2021, paymints.io was awarded HousingWire’s Tech100 Real Estate Award. For more information on paymints.io, please visit www.paymints.io.
Rynoh is a best-in-class, patented, bridge application that has monitored more than $5 TRILLION. Originally developed by a settlement agent tired of losing money due to avoidable mistakes, Rynoh connects to banking data and accounting software in a cyber-secure, cloud-based environment. It tells you what you need to know, when you need to know it, and automatically generates reports that allow you to manage and reconcile your accounts daily, providing rigorous and comprehensive oversight for faster error discovery and correction. For more information about Rynoh, please visit www.rynoh.com.