Press Room

NES Financial’s Trust and Escrow Technology Solutions Gained Momentum During Second Quarter

NES Financial’s innovative solutions continued to attract major banking and EB-5 Regional Center clients during its second quarter

San Jose, CA, August 9, 2011— NES Financial continued to see strong growth during the second quarter of the year due to its suite of escrow administration solutions for new banking partners, Regional Centers, and Fortune 500 clients. The company gained additional momentum from the 1031 exchange sector with energy, aircraft and leasing clientele.

“The results of our second quarter demonstrate a growing need for technology-based solutions,” said Michael Halloran, President and CEO of NES Financial. “At this point, NES Financial is continuing to see increased deployments of our technology and services at banks and leading corporations that improve the efficiency of administering complex financial transactions such as 1031 Like-Kind Exchanges, EB-5 Visa Escrows, Landlord/Tenant Security Deposit Escrows, and Pre-Need Escrows.”

During its second quarter of 2011, NES Financial:

  • Announced their recent agreement with East West Bank to deploy NES Financial’s trust and escrow technology to complement their existing IT infrastructure. Using NES Financial’s cloud-based portal, eSTAC™, East West Bank can leverage existing investments in their core systems while accommodating new market needs at a rapid pace.
  • Took the leadership role in the growing EB-5 sector by gaining new EB-5 Regional Center clients. NES Financial’s most recent announcement concerned their agreement with Mirzam Investor Green Card (MIGC) Regional Center to deploy their EB-5 Escrow Administration Solution in support of MIGC’s aquaculture farm projects.
  • Successfully completed their sixth consecutive annual Statement on Auditing Standards No. 70 (SAS 70) audit. This audit examined the company’s technology, processes and controls for escrow administration and 1031 exchange facilitation, which ensures the highest level of funds security, transparency and compliance.  NES Financial is the only independent qualified intermediary to have successfully completed six successful annual audits.

NES Financial maintains its leadership in administering complex escrow accounts for EB-5 Regional Centers, and remains the leading provider of 1031 exchange solutions among financial institutions and Fortune 500 companies nationwide. Their industry-leading technology offers enhanced reporting capabilities and account visibility to support and safeguard complex escrow, trust, and sub-accounting needs in multiple industries.

For more information on NES Financial’s Trust and Escrow Administration Solutions, visit here.

About NES Financial
NES Financial 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. NES Financial 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 of transactions each year.

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Media Contact: Laura Kelly, 408-738-9141, lkelly@nesfinancial.com

2017-05-22T01:19:58+00:00 August 9th, 2011|Categories: Press Release|