Innovative sub-accounting solutions meet financial market needs, placing the company in strong standing after its first quarter
San Jose, CA, June 5, 2012– NES Financial, a leading provider of cloud-based technology and services for banks and corporations, continued its strong momentum in the first quarter of the year. In addition to adding new solutions to its portfolio, the company continued to add new client wins that resulted in a new milestone of $85 billion annually in funds flow under administration.
Specifically in its first quarter, NES Financial:
- Increased funds flow to over $85 billion annually. The growth has been brought about by adding new cloud-based solutions to its eSTACTM technology platform and building market share in its banking and EB-5 sectors.
- Introduced its innovative Homebuilder Escrow Solution. The escrow solution offers advanced sub-accounting services and enhanced reporting capabilities to improve operational processes and comply with state regulations. The Homebuilder Escrow Solution provides homebuilders with a streamlined approach to managing their homebuyers’ deposits efficiently and cost effectively.
- Deployed its EB-5 Solutions with a record number of EB-5 Regional Centers. To meet the growing demand for funds security and enhanced transparency, EB-5 Regional Centers are deploying NES Financial’s EB-5 Escrow Administration Solution in this high growth sector.
- Strengthened its sales organization with new banking and escrow specialists. NES Financial expanded its sales force to reinforce leadership in its escrow and banking businesses.
“Our solutions deliver a higher level of value in the market based on our expertise and technology,” said Michael Halloran, President and CEO of NES Financial. “Although we’ve seen substantial progress in our first quarter, the priority is to continue to deploy sub-accounting solutions that lower costs, increase fee revenue, and reduce risk for banks and 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 technology, services, and expertise to banks, organizations, and leading corporations. Combining industry expertise with the most advanced cloud-based sub-accounting technology, NES Financial helps its customers improve operational efficiency, lower costs, reduce fiduciary risks, and improve profitability. Recently recognized in the Inc. 500|5000 list of fastest-growing, private companies in America, NESF has built its business and reputation on delivering increased security, transparency, and compliance to complex financial transactions.
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