Escrow Services

The Montran Escrow platform allows any bank to provide a fully featured Escrow service to their clients. All funds are automatically allocated to the correct client accounts upon receipt of funds with full alerting, IOLA/IOLTA interest calculation and regulatory reporting. Available as Software-as-a-Service (SaaS) or on premise.

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At A Glance

The Montran Escrow Platform uses our proven Virtual Bank Account capability to enable your organization to provide an unlimited number of escrow accounts to your customers from one Omnibus or Pooled bank account. It uniquely also allows you to provide this functionality on a multi-bank, multi-currency basis to meet the complex business and geographical needs of your larger customers. The platform simplifies IOLA/IOLTA interest capitalisation and payment as well as providing regulatory reporting and on-demand customer and cross-party project statements.

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Solution Highlights

White labelled Escrow Platform for banks, FIs/NBFIs, Property, Legal and, Trust

The Montran platform allows any regulated institution to offer an Escrow service to their clients.

Immediate Customer On-Boarding

Real-Time Account opening (multi-currency) with immediate ability to accept and remit funds.

Multiple Account Structures for different markets

  • Property Management (Transaction/Sale, Construction Projects— Retention, Project)
  • Trust Accounts
  • Full IOLA/IOLTA Management and Reporting
  • Litigation Accounts
  • Syndicated Finance Control
  • Care and Funeral Services
  • 1031 Exchange
  • Paying Agents
  • Bid Contract Management
  • Interest Apportionment

Real-Time Reconciliation and Alerting

Real-time reconciliation and automatic funds allocation to the correct Client Account with strict segregation of funds in pooled or omnibus accounts. Alerting also identifies non-receipt and partial/excess funds receipt.

Payment Processing

All payment transactions ensure funds are available in the client account before payment instruction can be enacted. Future dated payments that have been committed can form part of this (configurable).

Automated Fees Processing

All Fees can be automatically deducted and accounted for and presented in customer statements/billing.

Virtual IBAN Management (VIBAN)

Full VIBAN support including 1 and 2-way VIBANs.

Bank Account Rationalization

One Bank Account per currency. No need to open real bank accounts for each Escrow.

Dashboards

Dashboards are provided and configurable by job function and KPIs. Automatic alerts of incoming funds or requests that exceed available balances.

Benefits

AUTOMATED REAL-TIME RECONCILIATION AND ALLOCATION TO CORRECT CLIENT ACCOUNT AND DYNAMIC ALERTING
CENTRALIZED ESCROW PLATFORM FOR THE BANK'S CLIENTS
AUTOMATED FEES CALCULATION, IOLA/IOLTA INTEREST CALCULATION, PAYMENT, AND REGULATORY REPORTING
VIRTUAL IBAN AND OPEN BANKING CAPABILITY
AVAILABLE AS SAAS OR ON PREMISE

At A Glance

The Montran Escrow Platform uses our proven Virtual Bank Account capability to enable your organization to provide an unlimited number of escrow accounts to your customers from one Omnibus or Pooled bank account. It uniquely also allows you to provide this functionality on a multi-bank, multi-currency basis to meet the complex business and geographical needs of your larger customers. The platform simplifies IOLA/IOLTA interest capitalisation and payment as well as providing regulatory reporting and on-demand customer and cross-party project statements.

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