With the total value of Escrow deposits in the US estimated to be in excess of a trillion dollars, it is increasingly important for these deposits to be segregated and managed efficiently in an environment that improves the customer experience.

An Escrow service should reduce the administrative overheads, reduce risk, save time. It is no longer acceptable to leave your customers with the burden of manual tasks. Within this broad definition, there can be significant variation in the escrow requirements for different industries and applications.

Cashfac offers a single solution that meets the diverse requirements of an Escrow service for Trust, Legal, Property, Care and Exchange businesses. The solution is white-labelled so that organisations and financial institutions can offer it as a full self-service solution to their clients who themselves need to offer an escrow account. The self-service environment enables customers to:

• Increase efficiencies: Customer’s transactions are automatically allocated
• Reduce effort: Payments are initiated directly from the escrow account (no duplication)
• Maintain Compliance: The escrow accounts are maintained to conform to all regulations and are automatically reconciled to the bank’s master account.
• Improve integration: The customer’s self-service environment can be fully integrated to the customers back office / ERP system for complete straight-through processing

Download our brochure to learn how you can reduce your overheads whilst delivering an improved escrow solution, completely tailored to your customer’s sector, size and complexity of escrow requirements.