Industry’s first EB-5 specific file hosting solution, EB-5 Virtual File Share, delivers security and efficiency benefits to the New York-based Regional Center
San Jose, CA, June 19, 2012– NES Financial, the nation’s leading provider of escrow administration technology and services to the EB-5 industry, announced that EB-5 New York State, LLC has deployed the company’s cloud-based EB-5 Virtual File Share Solution to streamline document management during the investment-offering process.
NES Financial’s EB-5 Virtual File Share Solution is the latest addition to the company’s suite of solutions for Regional Centers. The cloud-based file hosting solution enables EB-5 Regional Centers, investors, attorneys, and brokers to manage and exchange EB-5 documents in a secure and controlled environment. The solution supports online and mobile device access to documents from around the world. In addition, it helps Regional Centers comply with regulatory compliance by efficiently managing version control, logging all document activity between parties, and generating reports for audit and compliance purposes.
“EB-5 New York State, LLC required a secure solution that made EB-5 documents accessible from key markets around the world and by a wide range of mobile devices — conditions that were not met with our previous virtual data room implementation,” said Bill Gresser, CEO of EB-5 New York State Regional Center. “After a trial phase, we selected NES Financial’s EB-5 Virtual File Share Solution because it met the unique requirements necessary for managing all the Regional Center and client documents, from recruiting through the I-526 process.”
The EB-5 Program provides foreign nationals with the opportunity to become permanent U.S. residents by investing in government-approved projects that create U.S.-based jobs. During the investor’s I-526 application process, EB-5 Regional Centers work with NES Financial to place investors’ deposits into escrow pending the approval by the U.S. Citizenship and Immigration Services. With the addition of the EB-5 Virtual File Share Solution, NES Financial can help Regional Centers better manage the document flow prior to the I-526 application being filed.
“As the industry leader in providing EB-5 escrow administration services, NES Financial has the opportunity to work with technically advanced organizations, such as EB-5 New York State, LLC, that are committed to leveraging technology to provide the utmost transparency and security for their investors, brokers, developers, and attorneys,” said Michael Halloran, President and CEO of NES Financial. “As a result of expanding our suite of EB-5 Solutions, we identified an opportunity to improve operational efficiency for our Regional Center customers by including advanced document management capabilities.”
The company’s EB-5 Escrow Administration Solution, widely adopted by EB-5 Regional Centers, combines secure, cloud-based technology with industry-leading expertise and advanced services. NES Financial’s team of experts averages over 15 years of experience in providing innovative financial solutions for sophisticated financial transactions.
For more information on NES Financial’s EB-5 Escrow Administration Solution, click here.
About NES Financial
NES Financial (NESF) is a leading provider of trust and escrow administration technology and services for banks, other financial institutions and Fortune 500 companies. The company’s state-of-the-art virtual private cloud-based solutions provide banks and financial institutions with increased fee revenue opportunities, reduced compliance costs and improved operating efficiency. NES Financial focuses on business sectors with complex processes, significant compliance requirements, and large sub-accounting needs, including landlord/tenant security deposit escrows, client trust accounts, capital raises, pre-need trusts and many more. NES Financial was recently ranked in Inc. magazine’s Inc. 500|5000 list of fastest-growing businesses in America.
About EB-5 New York State, LLC
EB-5 New York State, LLC was approved as an EB-5 Regional Center in 2009 and covers all of New York State. EB-5 New York State is approved to invest EB-5 capital into job creating projects in multiple economic sectors, and has successful EB-5 projects in healthcare, education and other economic sectors. For further information, contact Bill Gresser at firstname.lastname@example.org, (480) 206-5723 or www.eb5nys.com.
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