- 1Aquamark announced Secure Funder, a neutral third-party certification program for funders.
- 2Certified funders get a digital badge and a listing in a premium directory.
- 3Major funders helped define the minimum standards and several have signaled support.
Aquamark, the company behind a watermarking tool for brokers, is launching a second product, Secure Funder, a third-party certification aimed at showing brokers which funders handle files securely.
From watermarks to certification
When Aquamark debuted earlier this year, it targeted brokers tired of being backdoored. The tool permanently marks a broker's claim to having originated a document. The industry response was strong, and founder Christina Duncan said funders also began reaching out, asking how they could do better and be part of the solution.
Duncan exhibited at the B2B Finance Expo in Las Vegas in October on an advisor's recommendation. She said it let her meet in person many people she had known for 15 years only by phone or video.
How Secure Funder works
Duncan said there are no clear guidelines on how files should be handled or what makes a funding source secure and trusted. Over recent weeks, Aquamark has been working with some major funders to define minimum standards. Funders that meet the guidelines receive a digital badge and a place in a premium directory of funders. Aquamark has said the certification would be an independent source of validation in an industry where every funder tells brokers to trust them, and it is encouraging more funders to participate. Details are in the official release.
Duncan described the program as a neutral initiative. "We're not affiliated with any broker, funder, or lead provider," she said in the release.
I think by the end of next year, my hunch is that if you're not on the list, you're probably going to start seeing less business.
Launch participants
The announcement came with a group of name-brand funders that have signaled support. Aquamark hopes brokers will use the list of certified funders to decide who to trust with their files.
Source reporting: deBanked.
