Buildout of commercial escrow solution chosen for Best Fintech Partnership category
The ZEscrow Development Group has been named as a finalist for Finovate Awards 2022 in the Best Fintech Partnership category. Built with Leader Bank, Bank of New Hampshire, Haven Savings Bank, Kearny Bank, Patriot Bank and ZSuite Technologies (ZSuite Tech), a financial technology company that powers financial institutions with unbound digital accounts encompassing escrow, subaccounting, sub-ledgering, FBO and trust accounts for commercial customers, the collaboration yielded ZEscrow, the only completely digital commercial escrow and subaccounting system.
Joining together to streamline commercial escrow and subaccounting methods for commercial banking clients, the ZEscrow Development Group worked in partnership to build a solution that allowed for simple subaccount creation, precise interest splitting control, detailed approval workflows and built-in configurations for the facilitation of regional and local compliance. The resulting product helps a variety of entities that use subaccounting and commercial escrow accounts, including law firms, property managers, title companies, municipalities and government organizations. Beginning in August 2020, the development group met recurrently and during one-on-one sessions to confirm direction and examine distinctive use cases, leading to the launch of ZEscrow in July 2021. To date, ZEscrow supports more than 41,000 escrow accounts and manages $300 million in deposits on the platform.
The winners will be announced on September 13, 2022. To view a list of all finalists, click here.
About ZSuite Tech
ZSuite Technologies (ZSuite Tech) is a financial technology company that equips financial institutions with digital escrow and subaccounting products to attract clients in specific commercial verticals. Banks partner with ZSuite Tech to gain low-cost, core deposits, operate more efficiently and expand their commercial portfolios.
To learn more about ZSuite Tech and how it can help your financial institution, please visit: https://www.zsuitetech.com.