Local Company Launches Software With Implications for Reducing Real Estate Fraud

Pasadena-based Glacier Flow announced this week the launch of Wire Instructions Verification, a web app that allows businesses to securely send financial wires transactions, reducing the risk of fraud.

According to Glacier Flow, which is focused on developing software that modernizes real estate payments and brings greater security to the industry, the app is designed for settlement companies that have long been plagued with the challenge of verifying wire instructions without delaying transfers or risking fraudulent activity.

According to the Federal Bureau of Investigation, real estate scam losses reached $350 million in 2021.

Wire Instructions Verification reportedly provides a secure online portal where settlement agents can cross-reference requested wire instructions against banking information pulled from Glacier Flow, such as the account holder’s name and bank account number, allowing them to check for anything suspicious or incorrect. 

“Wire Instruction Verification will be a game-changer when sending wires in the real estate industry, especially for payoffs like seller proceeds and agent commissions.” said Jonas Tressel, co-founder, and CEO of Glacier Flow. “There’s a lot of settlement holders under an increasing amount of stress when sending these high-dollar-value payments due to the rise of fraudulent activity, and we’re happy to help relieve some of that for them”. 

For more information on WIV, visit Glacier Flow or contact info@glacierflow.app.