Can You Trust the Funder? Are They a “Secure Funder”?

When Aquamark debuted earlier this year, their target demographic was brokers that were tired of being backdoored. The product was a unique watermarking tool that could permanently identify a broker’s claim to having originated a document. Brokers liked that sort of thing and the response that Aquamark received from the industry was overwhelming. But what stood out the most to them was the number of funders that also wanted to get involved.

“Since launching, we’ve had funders that genuinely want to do things the right way, reaching out to us, asking things like, ‘how can we do better? How can we be part of the solution?'” said Christina Duncan, Aquamark’s founder.

On the advice of a solid advisor, Duncan was encouraged to exhibit at the B2B Finance Expo in Las Vegas this past October. And the trip paid off. A lot of people had heard of her and Aquamark but had not been formally introduced. Now they were finally talking. There were also people there she knew but had never technically met.

“I was able to meet people that for the last 15 years I’ve either communicated with via phone or in like a FaceTime setting, but not in person,” Duncan said. “So I was able to meet people that I’ve known for so long in person for the first time too.”

The experience increased their momentum and now Aquamark is even announcing a second product, Secure Funder.

“There aren’t any clear guidelines around how files should be handled or what actually makes a funding source secure and trusted,” Duncan said. “And so over the last few weeks, we’ve been collaborating with some pretty major funders on defining what those minimum standards should look like.”

The objective is to perform a unique third party certification to determine if a funder is secure and trustworthy. “Secure Funders” that meet guidelines will get a digital badge and be placed in a premium directory of funders.

In an industry where everyone tells brokers to trust them, funders find themselves competing against others that are making the same promises. Now, this new product aims to serve as an independent source of validation.

“The program was developed as a neutral, third-party initiative,” said Duncan in the official release. “We’re not affiliated with any broker, funder, or lead provider. We simply want to see business owners get the capital they need—without having to worry about where their sensitive information ends up.”

Along with the announcement is a batch of name-brand funders that have already signaled their support to be part of it. The hope is that brokers will see the list of who they’ve certified and have actionable information about who they can trust with their files. Aquamark is encouraging other funders to participate as well.

“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,” Duncan said.

Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.