East West Bank (NASDAQ: EWBC) selects NES Financial’s Trust and Escrow Administration Solution to power their suite of escrow solutions
SAN JOSE, CA, June 21, 2011 – NES Financial (NESF), a leading provider of trust and escrow administration technology and services for the banking industry, announced that it has entered into an agreement with East West Bank for the deployment of NESF’s eSTAC-based Trust and Escrow Administration Solution.
This announcement marks another strategic banking partner win for NES Financial. The comprehensive Trust and Escrow Administration Solution represents the next generation in solutions for financial institutions. Built on NESF’s eSTAC platform, it is architected to be compatible with existing bank infrastructure, thereby leveraging the massive investments banks have already made in their core systems. At the same time, it offers the flexibility and scalability to allow banks to deliver services at the pace demanded by their customers.
“At East West Bank our focus is on helping our customers succeed and we are always looking for new ways to stay ahead of our competition,” said Miguel Serricchio, EVP – Director of Treasury Management Services, at East West Bank. “We were looking for a leading-edge solution that would allow us to continue our rapid growth while continuing to meet our customers’ needs in this rapidly changing banking environment. We selected the NESF solution because of the advanced flexibility and scalability that it provides.”
“We are excited to be entering into this relationship with East West bank. Their commitment to innovation to meet the needs of their customers is resulting in rapid growth and market success,” said Michael Halloran, NES Financial’s CEO. “East West Bank’s selection of our solution is a proof point that our solution is a perfect fit for leading banks in this new financial services climate.”
The NES Financial eSTAC Trust and Escrow Administration is currently being used by leading financial institutions, banks and Fortune 500 companies for administration of a wide range of complex financial transactions. The solution is an ideal fit for innovative banks of all sizes that are focused on delivering additional revenue-generating solutions to their customers in a rapid and cost effective way.
Click here for more information on NES Financial’s leading Trust and Escrow Administration Solution.
About NES Financial
NES Financial (NESF) is a leading provider of trust and escrow administration technology and services for financial institutions and major corporations. The company is also the nation’s leading provider of 1031 exchange intermediary services. NESF delivers proprietary state–of-the-art technology, outstanding client services, and industry leading subject matter expertise in trusts and escrows. NESF solutions safely process over 70 billion dollars of transactions each year. For more information please visit www.nesfinancial.com.
About East West Bank
East West Bancorp is a publicly owned company with $21.1 billion in assets and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly owned subsidiary, East West Bank, is one of the largest independent commercial banks headquartered in California with over 130 locations worldwide, including the U.S. markets of California, New York, Georgia, Massachusetts, Texas and Washington. In Greater China, East West’s presence includes a full service branch in Hong Kong and representative offices in Beijing, Shanghai, Shenzhen and Taipei. Through a wholly-owned subsidiary bank, East West’s presence in Greater China also includes full service branches in Shanghai and Shantou and a representative office in Guangzhou. For more information on East West Bancorp, visit the Company’s website at www.eastwestbank.com.
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