Called confirmly, it aims to reduce risks and help prevent scams in the transfer of conveyancing and client funds.

It uses LMS Panel Link, eCOT, and additional data from third party sources to give law firms peace of mind in where they are sending funds.

LMS is confident enough in its product that it will provide law firms with an indemnity against the results.

Confirmly is being launched initially with InfoTrack through an application programming interface and will, “soon be available via other integrators and direct.”

LMS commercial director Travis Scholes comments: “We have identified from our systems that there is nearly there is nearly a 5% mismatch rate when law firms are checking their data before transferring funds.

“The fact that we are providing an indemnity demonstrates our confidence in our product and serves as an extra level of security for our law firm users.”

And InfoTrack chief executive Scott Bozinis says: “Both InfoTrack and LMS are committed to collaborative innovation and confirmly is an exciting addition to our award-winning solutions.

“The benefits of confirmly being indemnified as well as being simple and easy to access make this a great tool in the fight against fraud and reducing transactional risk.”