In an industry where timing is everything, instant payments help private lenders gain a competitive edge on project timelines and fraud prevention. But what do lenders need to know to make the most of this technology?
Mollie Markham, industry relations team lead for Federal Reserve Financial Services, joins Sekady president Thayne Boren and California Mortgage Association president Brad Laddusaw to talk nuances and best practices for construction lending payment rails, including:
– Differences between instant payments and traditional methods, and what works best for different scenarios.
– Top pain points that instant payments can help resolve, including errors related to payment cutoff times.
– Operational strategies to shield against wire fraud.
– Industry-specific implementation strategies and best practices.
About your subject matter experts:
Markham leads various industry feedback and collaboration opportunities to inform strategic initiatives across FRFS, which serves more than 9,000 financial institutions nationwide.
Boren is a veteran in the software and technology space with nearly 20 years of experience in fintech, contech, and logitech. Today he leads Sekady, a pioneer in payment solutions for the construction finance sector.
Laddusaw serves as CMA’s president, sitting on its Board of Directors, Education Committee, and Membership Committee. In July 2017, Brad founded S&L Capital Group, a Southern California-based private lending firm with his business partner, Corey Siegel.