Norwood Financial institution is partnering with ZSuite Applied sciences to broaden digital choices and enhance deposits

BURLINGTON, Mass .– (BUSINESS WIRE) –ZSuite Applied sciences, a monetary know-how firm that gives digital instruments that allow companies and people to automate the gathering of recurring funds and handle collateral, has partnered with Mass.-based Norwood Financial institution. By partnering with ZSuite, Norwood will enhance its digital providing as client expectations evolve within the wake of the pandemic.

By providing ZRent and ZDeposit, Norwood can construct low-cost core deposits and enhance lending in its present industrial mortgage and actual property portfolios. ZSuite’s mobile-friendly, easy-to-use instruments are designed to assist people, property managers, landlords, owners associations, and different companies develop their companies whereas constructing nearer relationships with their financial institution.

ZRent robotically processes rental funds, storage and repair charges, membership charges and different funds on a dependable month-to-month schedule and presents distinctive options resembling roommate sharing, descriptive ACH transactions, complete reporting and future cost forecasting. ZDeposit presents first-class transparency between tenants and landlords and simplifies the opening, financing, administration and approval of tenant accounts whereas on the similar time making it simpler to adjust to state legal guidelines.

“We’re very excited to associate with ZSuite to supply digital instruments that not solely make property administration straightforward for our shoppers free of charge, but in addition broaden their banking relationship with us,” stated Tracey Robbins, senior vice chairman at Norwood Financial institution. “Group banks are sometimes restricted to their location. Nevertheless, with ZSuite Norwood is ready to serve shoppers exterior of our facility. After we took step one in 2021, I am excited to see how our buyer base will broaden. ”

With built-in tier 1 assist throughout a number of channels together with cellphone, on-line chat and e-mail, ZSuite offers devoted assist to make sure the success of its companions and clients in implementation all through the connection. As well as, ZSuite performs all again workplace companies resembling onboarding new customers and offers coaching and advertising and marketing steering to its associate banks and credit score unions.

“With the implementation of ZRent and ZDeposit, Norwood Financial institution is providing its property administration and landlord clients the power to securely course of recurring funds on-line and automate the advanced deposit of collateral,” stated Nathan Baumeister, CEO of ZSuite. “Because the demand for digital options continues to develop within the New 12 months, we’re excited to assist Norwood differentiate itself from different monetary establishments locally, construct new buyer relationships and develop deposits.”

ZSuite was based by bringing collectively each bankers and seasoned know-how managers for one function: to assist monetary establishments compete in an ever-changing panorama. ZSuite merchandise have been supplied by monetary establishments since 2015 and have confirmed themselves. Tons of of landlords and property managers are actively utilizing ZRent and ZDeposit with greater than $ 100 million in funds processed, deposits managed, and secured online loans.

About Norwood Financial institution

Norwood Financial institution is an unbiased group financial institution with $ 675 million in belongings. The financial institution has operated in Norwood, MA since 1889 to satisfy the monetary wants of the native inhabitants. They’ve steadily and certainly grown to turn out to be a revered and valued native establishment. They concentrate on industrial financial institution, commerce and residential loans, in addition to personal financial institution and residential loans. For extra details about the financial institution, name 781-762-1800 or name www.norwoodbank.com.

About ZSuite Applied sciences

ZSuite Applied sciences is a monetary know-how firm devoted to offering monetary establishments locally with digital escrow merchandise for particular industrial industries that may be supplied to their clients. The merchandise from ZSuite, ZRent, ZDeposit and ZEscrow optimize the recording of recurring funds and automate the administration and compliance of multi-purpose escrow subaccounting processes.

To be taught extra about ZSuite Applied sciences and the way it may also help your monetary establishment, please go to: https://www.zsuitetech.com.

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