John Marshall Bank, a subsidiary of John Marshall Bancorp, Inc., launched its Escrow Optimizer platform, which tracks transactions in addition to offering reporting and tax form capabilities aimed at simplifying daily operations of managing escrow and subaccounts.
Additionally, customers can open, close and fund subaccounts at any time while retaining the ability to segregate funds for more efficient business management or to fulfill compliance requirements.
Brittany Wismer, vice president, commercial relationship manager – fiduciary banking, has been tapped to facilitate integration of the Escrow Optimizer platform with current customers, and to assist with onboarding new ones.
“Gone are the manual and resource intensive involvement typical of conventional escrow and subaccounting processes. With this innovative technology, the bank opens greater opportunities to its escrow customers,” Chief Banking Officer Andrew Peden stated in a release. “The advanced and unique features of the Escrow Optimizer demonstrate the bank’s commitment to bringing quality and prominent upgrades to our fintech suite.”
Title companies , as well as real estate offices, property management companies, , law firms, funeral homes, nursing homes and nonprofits will be able to optimally manage third party funds with Escrow Optimizer, powered by ZSuite Technologies, Inc., according to John Marshall Bank.
With customizable and flexible organization, built-in regulatory compliance, easily accessible reports and statements, and a variety of other features, company leaders said the Escrow Optimizer provides an avenue for growth and efficiency for the customers of John Marshall Bank and is beneficial to anyone with a fiduciary responsibility.