“Manasquan Bank has earned a reputation for providing high-touch, high-tech service to its customers,” said James S. Vaccaro, chairman, president and CEO of Manasquan Bank. “We are committed to their success and are dedicated to evolving our differentiated offering to ensure our customers have the tools they need. ZEscrow automates an extremely complex and manual process from start to finish, allowing business owners to manage their activities when and how they want. This is truly an innovative new feature for our bank and, more importantly, for our business customers.
Headquartered in New Jersey, Manasquan Bank operates 15 branches with total consolidated assets of $2.8 billion. The bank has partnered with ZSuite Tech to provide business customers with more robust digital cash management tools and automate complex sub-account transactions.
The new solution, named mSuite in reference to the bank’s core image, has been quickly adopted by current business customers, including tenants and property managers, attorneys and other business owners. In addition, the bank believes the new features have helped it attract new business customers in other specialty areas, such as municipalities and housing associations.
“Providing Manasquan’s branded digital escrow platform to its business customers is a solid testament to the bank’s confidence in ZSuite,” said Nathan Baumeister, CEO of ZSuite Tech. “Using tools that streamline the escrow process means banks can easily reach current and potential business customers to attract deposits. Manasquan Bank is a great example of an institution using technology to serve niches and attract more deposits.”
ZSuite Tech is a bank-born champion of technology and financial growth for banks, offering SaaS solutions as unique value-added services. By using ZRent and ZEscrow, financial institutions can increase core deposits, improve the customer experience, and reach customers outside of their branches through online channels. These products can also reduce the labor-intensive hours of back-end work at a financial institution to support commercial escrow accounts.