Maxwell, the mortgage fintech backed by Wells Fargo and Fin Capital, has launched Maxwell Single-Sign On, an SSO (single sign-on) tool for lenders to enhance security and reduce the risk of data breaches, the company announced on Monday.
The tool is designed to address the issue of sensitive data being handled by lenders and loan officers on a daily basis, including social security numbers, paystubs, and tax returns. With cyber threats increasing in the financial sector, the company believes that lenders need to take proactive steps to safeguard their systems and data.
Maxwell Single-Sign On allows lending teams to sign in safely and securely using their existing authentication partner. The tool reduces the risk of unauthorized access to sensitive data and applications, simplifies access management, ensures only authorized users have access to consumer data, and improves usability by allowing teams to log in easily with one click.
The SSO tool is part of meeting the industry demands of ensuring an optimized process from the intake of the application to clear to…