iGTB Intellect

374X315 Main Banner Mobile Escrow

Escrow Deposits

Deposit mobilization efforts channelized via Escrow/Trust agents

Stable source of funding

Low capital requirements as per Basel III norms

Low marketing and distribution costs

[save_as_pdf_pdfcrowd]
8 boxes bg

Banks across the Globe are Increasingly Focused on Expanding their Deposit Base

Feature rich risk management solution that handles complex corporate cash management & liquidity structures

Payment Services

Contextualized and Rich Banking Experience

• Fully contextualized banking experience for escrow agent based on industry segment and use case

• Account nomenclature and transaction flows aligned to industry segment & use case

• Statement for combined master account and individual sub-account

Account Service 1

Compose Industry Specific Escrow Products

• Compose products with industry specific nomenclature and workflows

• Layered configuration of product & regulatory rules by jurisdiction & master account

Administration

Transaction Capability

• Transactions supported via directly addressable sub-accounts or via allocation from master account

• Distinct handling of fulfillment and exception flows

Account Service 1

High Degree of Parameterization

• Configure Interest rates at the relationship level or at a more granular level

• Compensate Escrow agent in numerous ways – Compensate independently or based on interest sharing

• Earning and tax reporting by ownership

• Set up jurisdictions and add another layer for configuring regulatory rules

Payment Services

Regulatory Compliance

• Support for KYC checks, withholding tax, dormancy/escheatment etc.

• Jurisdiction for regulations can be configured as per use case at country/state/custom levels

• Out-of-the box configuration for US

Administration

Interest & Earnings

• Ability to administer bank interest on escrow deposits

• Settlement of interest into account or 3rd party

• Admin fee support for Escrow Agent compliant with regulation

What’s in it for...

  • Quickly configure business rules and regulatory (federal/local)
  • Address the needs for different industry-specific escrow use cases
  • Manage whole lifecycle of an escrow account
  • Compose products with fields, labels, and other text customized for different industry segments and use cases. E.g. property management, rentals, litigation, public/government services, personal services, etc
  • Define hierarchical levels that are appropriate for specific use cases (i.e. buildings for property management or case numbers for litigation)
  • Manage escrow/trust accounts and transactions (interest, admin fee, tax handling, disputes)
  • Automate reconciliations with manual exception handling where required
  • Generate comprehensive reports of accounts and transactions
  • Online audit history of all activities, additions, modifications and transaction life cycles
  • Federal and State tax handling
  • Escheatment handling
  • Federal and local regulatory support by state (KYC, Reg D, FDIC, etc.)
  • Document upload and retention capabilities, including archival and purging policy handling
Frame 1000006916
01 1
  • Manage escrow/trust entities (rental properties, lawsuits, etc.) without depending on the bank
  • Open, edit, close escrow/trust accounts
  • Transact, manage and view details (interest, document uploads, payments, etc.) on deposits to escrow/trust accounts and Release/refund of funds from escrow/trust account
  • Customize hierarchical views for different use cases
  • Extract date for accounts and transactions
  • Manage account statements and generate comprehensive reports
  • View enhanced deposit breakdowns for certain use cases (i.e. security and pet deposits for apartments)
  • Toggle between different use cases within the same portal
  • Use one log-in to access all of your Escrow needs
Client Desktop 2
Client Mobile

See how Global Banks #winwithiGTB Trusted by the World’s Best

Client Testimonials

Explore testimonials showcasing how iGTB empowers 60% of the world’s top banks to #winwithiGTB

View All Customer Success Stories Arrow

A market-leading global transaction banking platform, iGTB provides global coverage for its Virtual Account Management (VAM) solution across five continents and 18 countries. iGTB’s Virtual Account Management offers corporate banking clients a seamless customer journey and user experience across multiple business segments.

Joseph Giarraputo
President & Editorial Director,

A market-leading global transaction banking platform, iGTB provides global coverage for its Virtual Account Management (VAM) solution across five continents and 18 countries. iGTB’s Virtual Account Management offers corporate banking clients a seamless customer journey and user experience across multiple business segments.

Joseph Giarraputo
President & Editorial Director,

Composable, Contextual & Hyperscale Architecture

For High Resilience and Processing Large Volumes in Partnership with Microsoft Azure and AWS

Microservice 1

Microservices Architecture

Loosely coupled, self contained services

API 1 1

API First

Build internal ecosystems with open APIs

Cloud Native 1 1

100 % Cloud Native

Flexibility to deploy on any public cloud platforms

3 1 1
Cloud
2 1 3
Pluggable 1 1

Pluggable Backends

Integrate any backend or application gracefully with pluggable integrations

Security 1

Security

With layers of security, ready for public or private cloud deployment

Lock In 1

No Vendor Lock In

Usage of open source components based on CNCF

Composable, Contextual & Hyperscale Architecture

For High Resilience and Processing Large Volumes in Partnership with Microsoft Azure and AWS

Microservice 1

Microservices Architecture

Loosely coupled, self contained services

API 1 1

API First

Build internal ecosystems with open APIs

Cloud Native 1 1

100 % Cloud Native

Flexibility to deploy on any public cloud platforms

Frame 1000005863
cloud.png
Frame 10000058631
Pluggable 1 1

Pluggable Backends

Integrate any backend or application gracefully with pluggable integrations

Security 1

Security

With layers of security, ready for public or private cloud deployment

Lock In 1

No Vendor Lock In

Usage of open source components based on CNCF

Composable, Contextual & Hyperscale Architecture

For High Resilience and Processing Large Volumes in Partnership with Microsoft Azure and AWS

Arrow 11
Microservice 1

Microservices Architecture

Loosely coupled, self contained services

API 1 1

API First

Build internal ecosystems with open APIs

Cloud Native 1 1

100 % Cloud Native

Flexibility to deploy on any public cloud platforms

Cloud
Pluggable 1 1

Pluggable Backends

Integrate any backend or application gracefully with pluggable integrations

Security 1

Security

With layers of security, ready for public or private cloud deployment

Lock In 1

No Vendor Lock In

Usage of open source components based on CNCF

Arrow 32

Perspectives

Perspective Award
News

iGTB named World’s Best Virtual Accounts Solution Provider 2023 by Global Finance

Perspective Whats New
Webinar

Virtual Accounts Management: What's new for 2023

Perspective Def Guide
Whitepaper

Definitive guide: The time for VAM is now. Learn how to Capitalize on it

Escrow

Talk to our team of experts to learn how we can accelerate your banking transformation journey

Download Brochure

iGTB's Virtual Accounts Management Ranked #1 And "Best-in-class" by Datos

Must Read: How Datos Identified iGTB's Best in Class Products