Growth in all business areas, including new banking and EB-5 Regional Center clients, and technology enhancements result in successful year capped by industry recognition award
San Jose, CA, February 14, 2012- NES Financial, a leading provider of cloud-based technology and services for banks and corporations, ended 2011 with strong year-end results by increasing corporate and banking clientele for all products and releasing expanded technology capabilities.
The company experienced growth in all lines of business in 2011, especially their EB-5 Escrow Administration Solutions which grew over 500 percent.
NES Financial’s key achievements in 2011 include:
- Rising industry recognition. NES Financial ranked in Inc. magazine’s 2011 Inc. 500|5000 list of fastest-growing private companies in America for the first time.
- Increasing adoption of banking technology and solutions. The company implemented its Banking Solutions with several highly rated banks, including East West Bank and MB Financial. NES Financial’s multiparty, multilevel sub-accounting platform is helping banks increase fee revenue, lower costs and reduce compliance risks.
- Emerging as the market leader in EB-5 Escrow Administration Solutions. With a growing demand for funds security and enhanced transparency, more Regional Centers are deploying NES Financial’s EB-5 Escrow Administration Solution in this high growth sector.
- Releasing innovative technology enhancements. The company continued to release enhancements to its technology platform, providing added security, enhanced data portability, greater self-service capabilities, increased scalability, and a more intuitive user interface for its leading platform.
- Maintaining growth in 1031 Exchange volume. Despite the overall down-turn in the real estate sector, NES Financial was able to increase its 1031 volume and capture additional market share.
- Passing our 6th consecutive SAS 70 Type II audit. The company successfully completed its sixth consecutive SAS 70 Type II audit. While there is no legal requirement for financial administration companies to adhere to SAS 70 Type II standards, NES Financial voluntarily submits to the most stringent operational and security standards in the industry.
“I am very pleased with NES Financial’s 2011 performance and the end-of-year momentum,” explained NES Financial’s CEO and President Michael Halloran. “As NES Financial transitions into 2012, deploying administrative solutions that lower costs, increase fee revenue, and reduce risk across multiple industries remains a top priority. Our solutions meet the needs of banks and corporations, and we are looking forward to another year of strong performance in 2012.”
NES Financial continues to be a leading provider of technology, expertise and administrative services for banks and corporations, as well as the nation’s leading provider of 1031 exchanges and EB-5 Escrow Administration Solutions. By combining secure, cloud-based technology with advanced automated processes, NES Financial delivers increased revenue opportunities, improved operational efficiencies and reduced risk for banks, financial institutions and major corporations.
For more information on NES Financial’s cloud-based solutions, visit www.nesfinancial.com.
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 recognized in Inc. magazine’s 500|5000 list of fastest-growing businesses in America.
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Media Contact: Laura Kelly, (408) 367-0826, firstname.lastname@example.org