Dytrix supports the critical risk management requirement of Knowing Your Counterparty (KYC). Our totally outsourced solution seamlessly integrates with lender Loan Origination Systems to mitigate cybersecurity risks and improve productivity.
SIMPLE – SECURE – VALIDATED – AUTHENTICATED
Dytrix is Simple to integrate into your processes and systems
Dytrix provides a Secure SOC compliant platform
Dytrix Validates all wire instructions
Dytrix Authenticates each counterparty
Lowering Costs for lenders and improving Cybersecurity Risk Management
Counterparty risk and transaction security are critical elements of doing business in the financial services industry. With the rise of cybersecurity threats, phishing scams, social engineering tactics, and compromised emails create a worldwide risk in financial transactions. In fact, 2019 saw over $1 Billion in losses, and the number grows exponentially each year. At Dytrix, we strive to stay ahead of all cybersecurity threats. We mitigate counterparty risk management in order to ensure secure transactions for lenders and support the regulatory requirement of knowing your counterparty (“KYC”). No more failed closings, no disappointed customers, no risk of misdirected funds –just happy customers, much lower counterparty risk, and improved productivity.
Knowing your Counterparty is powerful. Keeping your information secure with seamless intergration into your LOS and helps improve vendor management productivity with closing agents and appraisers.
In the event a closing agent under Dytrix management experiences a privacy or data breach, Dytrix fully supports the lender’s ability to notify and require the agent to take certain actions, including deleting the impacted consumer’s data files. Dytrix also provides the impacted consumer with 1 year of credit monitoring on behalf of the lender.