- Technology Approach Aligned with “Banking of the Future” Model
- Gains Leadership Position in EB-5 Administration
- Secures Additional Banking Relationships, Streamlines Branding
San Jose, CA, November 30, 2010 – NES Financial (NESF), the nation’s leading provider of secure, transparent and compliant financial administration solutions for the banking industry and Fortune 500 companies, has announced that funds flow under administration for financial institutions has surpassed $70 billion annually.
The growth has been brought about in part by leveraging the eSTAC technology platform to enter new markets and quickly build market share. NES Financial’s proprietary eSTAC technology platform provides the foundation for highly scalable and compliant administration solutions that deliver consumer protections to all parties involved in complex, multi-party escrows. Using eSTAC, NES Financial can bring investors unmatched levels of transparency, security and compliance.
Over the last 90 days, NESF has reached several key milestones in their continued growth.
Market Leader in EB-5 Funds Administration. Since entering the EB-5 visa market in early 2010, the NES Financial EB-5 Administration Solution has been implemented in multiple Regional Centers across the country.
Additional Banking Relationships. NESF now has relationships with 11 of the top 20 banks in the United States, providing their customers with 1031 exchange, trust, and complex escrow administration solutions. Not only do financial institutions using NESF see great time-to-market advantages, but they also experience substantial cost savings compared with other alternatives.
Streamlined Branding. NESF’s Nationwide Exchange Services, the leading provider of 1031 exchanges in the United States, is now known as NES Financial 1031 Solutions, setting the stage for continued expansion into new markets in need of increased security, transparency, and compliance.
Expanded Web Presence. In conjunction with a recent website re-launch, NESF introduced a blog providing expertise relating to 1031 exchange, multi-party escrow, and trust administration issues. The posts will focus on best practices, consumer protection, and analysis for multiple market segments including leasing, real estate/REITs, EB-5 related immigration. The company also expanded its social media presence by launching sites on LinkedIn, Facebook and Twitter.
Increased Funds Flow. Despite the overall economic downturn, NES Financial continues to grow. Funds and funds flow under administration recently surpassed $70 Billion.
“Our goal is simple: To use our eSTAC platform and subject matter expertise to create fully compliant solutions that provide security and transparency to businesses, and deliver substantial consumer protections” said Michael Halloran, president and CEO of NES Financial.
“NESF can deploy its eSTAC-based solution for new markets much more rapidly than traditional alternatives. This provides huge benefits to financial organizations looking to move into underserved or niche segments,” continued Halloran.
The NESF approach is not only driving growth but also falls in line with analyst views for the continued evolution of the banking industry. Forrester Research’ Inc. vice president and principal analyst Jost Hoppermann predicts in the December 8, 2009 report, The Banking Platform of the Future, that “
For more information on NES Financial solutions for 1031 exchanges and multi-party trust and escrow administration, contact NES Financial at (800) 339-1031 or by visiting www.nesfinancial.com
About NES Financial
NES Financial (NESF) is the nation’s leading provider of secure, transparent and compliant financial administration and 1031 exchange solutions for Fortune 500 companies, financial institutions and law firms. Combining proprietary state-of-the-art technology and outstanding client services with subject matter expertise in trusts, escrows and 1031 exchanges, NESF delivers flexible and scalable solutions that safely process over 70 billion dollars each year.