Qualia Launches Live Reconciliation Service
March 7, 2019
Qualia now offers dedicated specialists to help guide and advise title companies on their reconciliations so they remain audit-ready and best practice-compliant at all times
The service, which is available in select states for a limited time period and will be expanding over the coming months, is offered within Qualia’s reconciliation and accounting platform. Qualia said the service ensures that agents don’t spend unnecessary time on bookkeeping and banking operations. Instead, they can focus on their core competencies to support business growth.
“Workloads have exploded in recent years leaving agents more susceptible to mistakes as well as escrow scams and fraud, underscoring the need for more efficient and secure reconciliation and accounting practices in the title industry,” said Qualia CEO Nate Baker. “Qualia’s Reconciliation Specialists will help minimize potential risks while offering peace of mind that reconciliations are executed properly, timely, consistently and with the highest accuracy.”
Qualia’s reconciliation specialists serve as ongoing accounting consultants to those companies seeking additional support to manage and clear a title company’s daily exceptions, help clean up and catch-up their accounts, send out digests with accounting updates, assist with creating and analyzing monthly reports required by underwriters, and be on the alert for any audit red flags.
All reconciliations performed by the Qualia reconciliation specialists are conducted on the Qualia SOC 2 and ISO 27001-certified secure platform, ensuring the security of reconciliations performed through Qualia. This minimizes the risk of escrow loss from fraud or theft.
Contact ALTA at 202-296-3671 or communications@alta.org.