Client Money Management

Contextual
Client Money Management

Help your customers manage segregation of monies held on behalf their clients, distinct from their own funds, for many different needs involving trust/escrow accounts.

Contextualized to each escrow use case

Contextualized to each client money/escrow use case

  • Define and manage industry-aligned client money use cases, for example, property management, rentals, litigation, public / government services, personal services, etc.
  • Set additional hierarchical levels and configure fields as appropriate for each use case
  • Provide clients with an unique experience that is differentiated based on the escrow use case that they access, as opposed to a generic sub-account structure
Out-of-the-box-regulatory-compliance-1

Out of the box regulatory compliance

  • Tax handling, monitoring and renewal for W8 and W9’s
  • Handling for 1099 / 1042-S reporting
  • KYC, OFAC, sanctions and other screening data requirements met
  • Federal withholding tax handing
  • Reg. D
  • Escheatment handling
  • State regulatory support
  • FDIC compliance
  • Archival and purging policy handling
Empower clients with self-service

Empower clients with self-service

  • Open, edit, close escrow/trust accounts
  • Control escrow/trust entities ( rental properties, lawsuits, etc.) without depending on the bank
  • Transact, manage and view details on:
    • Deposits to escrow/trust accounts
    • Release / refund of funds from escrow/trust account
  • Segregate reporting of escrow/trust funds independent from regular funds /own money
  • Set rules for transaction workflows
  • Customise hierarchical views for different use cases
  • Manage account statements
Out-of-the-box-regulatory-compliance-1

Extensive functional capabilities

  • Manage escrow/trust account transactions – deposits and release / refunds
  • Record and manage disputes
  • Manage interest on escrow/trust accounts including accruals, back-value adjustments
  • Handle post processing on interest such as admin fee, interest sharing, withholding taxes
  • Automate reconciliations with manual exception handling where required
  • Generate comprehensive reports
  • Extract data for accounts and transactions
  • Online audit history of all activities, additions, modifications and transaction life cycles

See for yourself. Fill out the form below to schedule a free demo.