20 July 2018
Visit www.avoka.com

Deposify signs first US bank

03 February 2017  |  6102 views  |  0 Source: Deposify

Leading security deposit management service, Deposify, today announced its banking partnership with People’s United Bank - one of the Northeast’s largest, community-based, regional banks, offering commercial and retail banking, as well as wealth management services, through a network of nearly 400 retail locations.

People’s United Bank is the first U.S. bank to support Deposify's technology in Massachusetts. Deposify provides mobile first trust accounts to landlords and tenants that lets them manage and control how and when security deposits are paid, using its secure online platform. Security deposits deposited using the Deposify service will be held by People's United Bank for the duration of a tenancy.

Deposify’s technology also assists landlords and leasing agents / brokers with security deposit-related compliance obligations and can help resolve possible disputes in days, avoiding unnecessary litigation. The banking partnership with People's United Bank serves landlords who are required by law to create trust accounts and helps tenants pay security deposits on residential lease agreements quickly through the use of a mobile application.

“Deposify’s deposit management service helps solves potential problems with security deposits for all stakeholders by using technology that automates the processes,” said Pat Sullivan, Massachusetts President, People's United Bank. “We are excited to partner with such an innovative fintech company and to provide the banking support for its technology in Massachusetts.”

“We're delighted to be working the team at People’s United Bank, “said Jon Bayle, Founder and CEO of Deposify. “When selecting our first U.S. banking partner, it was important for us that the bank had extensive real estate expertise and innovative in the adoption of technology. We found all that and more in People’s United. We're very much looking forward to launching in Massachusetts in the coming weeks, and planning to grow our banking partnerships throughout the northeast and beyond.”

“I am excited to welcome Deposify to Boston, a company with Irish roots that has chosen to expand in our city," said Mayor Martin J. Walsh. "Boston is open for business and we welcome the opportunity to further strengthen our talented workforce and expand our range of innovative companies with the addition of Deposify, which offers an innovative approach to finance management for rental transactions. I look forward to their continued success as they as they grow and expand in Boston."

Deposify, founded in Dublin, recently established their U.S. headquarters in Boston, acknowledging that the City’s strong history in technology innovation and access to technology expertise through its universities were driving factors. Deposify has partnered with the largest bank in Ireland, Bank of Ireland, and will be announcing other banking partnerships in Massachusetts and New York in the coming months.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit https://secure.vasco.comVisit http://go.jumio.com/finextraAdVisit info.nice.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12157 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
10082 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9765 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9324 views 19 comments | 14 tweets | 30 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
9296 views comments | 9 tweets | 17 linkedin

Featured job

to GBP £120K base, double ote, benefits
Frankfurt, Germany

Find your next job