Innovative solutions are essential for financial institutions to enhance deposit acquisition and efficiency. One such success story involves a $4B bank headquartered in the Southeast, known for its rapid growth and commercial focus. By utilizing ZSuite Tech's ZEscrow platform, this bank achieved significant growth in its target market of 1031 exchanges.
This private bank combines highly experienced bankers with cutting-edge technology and is one of the fastest-growing banks in the country. They identified 1031 exchanges as a key area for deposit growth and sought a solution that could streamline the management of three-party accounts. The bank chose ZEscrow for its innovative technology and user-friendly interface, benefiting both back-office staff and commercial customers.
The bank's early adoption of ZEscrow allowed them to influence the product roadmap and ensure it met their specific needs. ZEscrow's robust features include interest rate calculation by subaccount, online account opening and closing, account number generation, document depository, wire instruction facilitation, and more. These features made ZEscrow an ideal solution for managing 1031 exchanges efficiently and securely.
The bank's Treasury Management Sales Officer shared a compelling success story: “With ZSuite's help, we onboarded 27 accounts with over $10 million in deposits in less than two months—a significant and rapid victory. Our client has been delighted with ZEscrow, particularly appreciating the intuitive interface and the ability to enact closing wire transfers directly within the platform. This feature saves time and provides a convenient experience for managing large sums of money and multiple properties."
ZEscrow has proven to be a powerful tool for this $4B Southeast bank, enabling them to streamline their 1031 exchange processes and significantly boost their commercial deposits. With features tailored to meet the needs of financial institutions and their commercial customers, ZEscrow stands out as a robust solution for managing complex deposit arrangements.
For more information on how ZEscrow can benefit your institution, schedule a demo today!
