Technology

With large banks establishing strong security infrastructure, cybercriminals are eyeing smaller and mid sized companies as their next victims.

Although no attacks have been tied to the country so far, professionals say the industry already beset by heightened fraud risk is a ripe target.

With Digital Asset Registration Technologies, lenders can avoid duplication errors and riskier arrangements with multiple parties on the platform, its creators say.

An incident at American Financial Resources compromised the information of 216,645 borrowers, the company acknowledged.

The tech firm cited an expected 60 to 70% drop in refinance volume as reason for the layoffs, which affect employees in the company’s title business and general administrative duties.

The Office of the Comptroller of the Currency recently decided to put an official in charge of the rising number of small and midsize national banks that partner with fintechs or have nontraditional business plans. The agency’s goal is to establish a team that understands cutting-edge technologies and establishes consistent oversight policies in response.

The Texas-based company aims to increase customer retention, offering borrowers amenities like flexible payment options through a self-serve vendor system.

The repository is a "single source of truth" lenders can use to learn about aspects of digital mortgage acceptance including by jurisdiction and wholesale lender.

The company partially backed by Wells Fargo will integrate the technology in its point of sales software, which they say is used by more than 350 institutions.

Zigg Capital led the Series B raise for the West Coast-based digital platform, which was founded by former employees of Freddie Mac and Palantir.