Closinglock SecurePay Recognized at Money20/20 for Redefining How Money Moves in Real Estate
Money 20/20 honors Closinglock for innovation in payments as SecurePay delivers faster, insured, and fraud-proof ways to move real estate funds.
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AUSTIN, Texas â Closinglock, the leader in secure digital payments and wire fraud prevention for real estate transactions, has been recognized with a Money 20/20 Global Money Award for innovation in the payments industry. The honor highlights Closinglockâs mission to secure every dollar in real estateâa $2 trillion market still largely dependent on wires, checks, and manual communication from the 1980s.
âIn many industries, money moves fully digitally,â said Andy White, Founder and CEO of Closinglock. âBut in U.S. real estate, it still runs on outdated systems that create delay, inefficiency, and risk. Especially now, as new technologies and AI introduce threats that these legacy tools were never designed to handle, the industry needs a safer, smarter way to move money.â
Closinglock SecurePay has already protected more than $2 billion in transactions with zero losses and earned a 4.7-star buyer satisfaction rating. It gives title companies and homebuyers a single, trusted way to move all closing funds, from cash to close and earnest money deposits, quickly and securely.
The platform combines modern convenience with bank-level protection, allowing buyers to send verified, good fundsâcompliant payments directly from their computer, tablet, or phoneâno bank visits or wire transfer risk. Every transaction is automatically insured up to $2.5 million at no additional cost, and funds are instantly matched to the correct file to eliminate manual reconciliation.
As local bank access continues to decline, the need for digital payment options has only grown. Fewer than half of Americans now have a nearby branch, and many buyers relocate from out of town or purchase homes in new states. Even if they wanted to visit a branch to initiate a wire or deliver a check, itâs often no longer possible. At the same time, buyers are working under tighter timelines, with earnest money and cash-to-close amounts often finalized just a dayâor even hoursâbefore closing. Traditional wire transfers canât always keep up, as delays from bank cutoff times, fraud checks, and limited branch hours frequently push funds past deadlines.
Recently, Closinglock announced new enhancements to SecurePay that make payments even more flexible, including faster transfer speeds and a daily cutoff time as late as 6:00 p.m. ET to help title and settlement companies avoid last-minute delays.
âItâs so easy to reconcile payments when they come in through SecurePay,â said Melissa Neesen, VP Operations at Reliable Title. âI love the convenience it gives our clients for sending closing costs. And if our Realtors donât want to act as escrow agents, they donât have to. SecurePay has become a great marketing point for us.â
Closinglock is also extending the same protection to outbound disbursementsâincluding seller proceeds, lender payoffs, and agent commissions. Using AI-driven verification and automated workflows, the platform will soon allow title companies to send funds directly to any party, reducing manual processing time from hours to minutes while maintaining full insurance coverage.
This announcement furthers Closinglockâs commitment to protecting the flow of funds and modernizing how money moves in real estate in one secure system. In September, Closinglock launched automated payoff retrieval, allowing title teams to order payoff statements in seconds. Once retrieved, they are automatically routed through Closinglockâs verification tool, and every verified payoff is insured for $2.5 million. Together, these innovations save title companies hours per closing, reduce risk, and keep transactions moving. Closinglock is also investing in expanded communications toolsâincluding two-way SMS, customizable TPS-triggered notifications, and a closing progress trackerâto make it even easier for title teams to keep clients informed and closings on track.
About Closinglock
Closinglock is redefining how real estate closings happen by securing the flow of information and funds, streamlining workflows, and preventing fraud. With Closinglock, title professionals can exchange wire instructions, receive same-day earnest money and cash-to-close payments, validate payoff accounts, verify identities, share documents, communicate with their clients via two-way text, and collect eSignatures. Trusted by thousands of title professionals and supported by leading financial service providers such as J.P. Morgan, Closinglock has protected over 1 million transactions totaling more than $500 billion. Learn more at Closinglock.com.
Wicked Title Forum is a reader & sponsor-supported publication. This post has been free for you to read thanks to the generous support of Closinglock. If you enjoyed this article and want to ensure we continue to create valuable content for the title insurance industry, please consider supporting usâŚ
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