Leader Bank Announces New Escrow Funding Solution: Leader Bank Digital Escrow
Leader Bank is the first bank in their market to offer this fully digital service.
ARLINGTON, MA (August 3, 2021) – Leader Bank is excited to introduce Leader Bank Digital Escrow, a completely digital solution for funding commercial escrow accounts. The responsive tool, which helps businesses streamline banking processes across the board, will be available for a wide variety of clients including attorneys, municipalities, property managers, title companies, real estate offices, unions, and 1031 exchange companies. Leader Bank is the first bank in its market to offer this solution.
Leader Bank Digital Escrow will eliminate all manual paperwork and automate the escrow account funding process while adhering to applicable compliance requirements. The platform features self-service account opening, a tri-party workflow, and complete transparency to the beneficiaries. The tool will save time for many different types of businesses; from law firms looking to create sub-accounts for settlements to non-profit companies separating out designated funds.
“At Leader Bank, we are dedicated to providing as many solutions as possible for our business banking clients and recognized the need for an improved escrow and sub-account funding process,” said Marc Romvos, Senior Vice President of Business & Government Banking. “With Leader Bank Digital Escrow, we continue to expand our innovative business banking offerings, while providing a unique, time-saving solution for our clients.”
Client support, including transaction processing, ID verification, and training, will be available for all users. Leader Bank Digital Escrow is a valuable addition to Leader Bank’s many business banking offerings, designed to help businesses and municipalities streamline their banking needs as they continue to grow.
About Leader Bank
Founded in 2002, Leader Bank is a Massachusetts-based entrepreneurial financial institution that approaches banking differently. The core tenets of Leader Bank include world-class client service, exemplary products, and innovation to meet the needs of its clients. At its founding, Leader Bank had $6.5 million in assets – in the two decades since, the Bank has grown into one of the most successful financial institutions in the Commonwealth with $4 billion in assets. Leader Bank’s team members have been at the forefront of supporting the Bank’s rapid growth and client-oriented solutions over the last two decades as the Bank has expanded its commercial and retail products and solutions. Leader Bank is a committed corporate citizen and prides itself on partnering with and supporting philanthropic organizations. More information on Leader Bank can be found at www.leaderbank.com.
