{"id":820,"date":"2022-09-08T12:31:00","date_gmt":"2022-09-08T12:31:00","guid":{"rendered":"https:\/\/www.ascentbusiness.com\/blog\/?p=820"},"modified":"2023-05-23T11:34:45","modified_gmt":"2023-05-23T11:34:45","slug":"streamlining-escrow-management-for-a-leading-indian-bank","status":"publish","type":"post","link":"https:\/\/www.ascentbusiness.com\/blog\/streamlining-escrow-management-for-a-leading-indian-bank\/","title":{"rendered":"Streamlining Escrow Management for a Leading Indian Bank"},"content":{"rendered":"\n<p>Ascent is proud to have assisted one of the leading private-sector banks in India.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"718\" height=\"136\" src=\"https:\/\/www.ascentbusiness.com\/blog\/wp-content\/uploads\/Screenshot_21-1.png\" alt=\"\" class=\"wp-image-1040\" \/><\/figure>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-large-font-size\"><strong>Challenges&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Current system\u2019s stability and usability.<\/li>\n\n\n\n<li>Escrow deals managed manually via Excel and file-based documentation.<\/li>\n\n\n\n<li>No automated escrow management system in place.<\/li>\n\n\n\n<li>Critical business processes lacked data flow\/interface with bank core systems.<\/li>\n\n\n\n<li>Unitary instructions and Standing Instruction for NEFT, RTGS, and IFT were subjective and dependent on CBS.<\/li>\n\n\n\n<li>Bank fees incurred manual errors for Escrow deals and payments.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-large-font-size\"><strong>Solution<\/strong><\/p>\n\n\n\n<div class=\"wp-block-columns are-vertically-aligned-bottom is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-bottom is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\"><div class=\"wp-block-image\">\n<figure class=\"alignleft size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"100\" src=\"https:\/\/www.ascentbusiness.com\/blog\/wp-content\/uploads\/escrow-page-logo-updated-2-1.png\" alt=\"\" class=\"wp-image-1042\" \/><\/figure>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<h3 class=\"wp-block-heading\">Automated Escrow &amp; Trust Account Management Software Suite<\/h3>\n<\/div>\n<\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>End-to-End \u201cBank &#8211; Customer &#8211; Counterparty\u201d Escrow Lifecycle Implementation.&nbsp;<\/li>\n\n\n\n<li>Automated messaging and E-mail notifications for reviewal and approval.<\/li>\n\n\n\n<li>Enabled real-time Auto-Debits, Unitary Payments, and Bulk Payment Uploads, integrated with core banking.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-large-font-size\"><strong>Result<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Exec\/top management view added to escrow management function.<\/li>\n\n\n\n<li>Automation achieved regulatory compliance.<\/li>\n\n\n\n<li>Escrow processes (real-time payments, beneficiary registration, retention amount processing) are successfully automated.<\/li>\n\n\n\n<li>Automated messaging and email notifications for activity review and approval.<\/li>\n\n\n\n<li>Beneficiary management for Customers as well Escrow Deals.<\/li>\n\n\n\n<li>Bulk Payment Upload up to 10,000 payments in a one-go.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><img decoding=\"async\" width=\"48px;\" height=\"48px;\" src=\"https:\/\/lh6.googleusercontent.com\/_mzoBAtTRQnTFGYLr8k_S61ATVYWJSTpds0KJG4HRTNexvkXo14ePOEeeyzMfPEcjkY30MfHNopjOkaDeSxeRa_mxq32vJOC8gqWTTTkvcbLbdPUXygoE4Dirb1IThDFM5mwFez0z7JiZFYq8pe3ofQwYg=s2048\">  60% Faster Decision Making<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><img decoding=\"async\" width=\"48px;\" height=\"48px;\" src=\"https:\/\/lh4.googleusercontent.com\/q7VU97DibyNDR5z_s5iSAvDG02GCJasRmDr7zsODKR4QxKR8lFT41HIsgL6icMv2RIEnRtqYZOez8fD-Fs2f6aORW23LF2WdtBMthdC5ALyeQMe5VibbbBXB_5fNqt_OZxvFomZPPxFR-zhzpLe_67hLug=s2048\"> 45% Increase in Efficiency&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><img decoding=\"async\" width=\"48px;\" height=\"48px;\" src=\"https:\/\/lh4.googleusercontent.com\/nYqtJAsBMXNM6qN6nv60sbX-vjJDDlHN385_ORb8OFd7BYJC7-00JrSEPq1HiHDQGE5kj3s-nlb2y4vk5kU-zdaBWPNby-Ir-iObbUOuh732WNUlj80Ej5wIlnlFJ_vcIPcMVk7GvyjqaWbDGlIUh0OpoQ=s2048\"> 50% Reduction in Manual Resources<\/p>\n\n\n\n<p>Discover a world of automated escrow management and bid farewell to manual processes with Ascent Autoescrow!<\/p>\n\n\n\n<p>&nbsp;Contact us and learn more about AutoEscrow.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.ascentbusiness.com\/request-a-demo\" style=\"background-color:#1c4185\">Request a Demo<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ascent is proud to have assisted one of the leading private-sector banks in India. Challenges&nbsp;<\/p>\n","protected":false},"author":4,"featured_media":987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Streamlining Escrow Management for a Leading Indian Bank<\/title>\n<meta name=\"description\" content=\"Discover how Ascent AutoEscrow automated escrow management for a leading Indian bank, , achieving regulatory compliance, and more....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ascentbusiness.com\/blog\/streamlining-escrow-management-for-a-leading-indian-bank\/\" \/>\n<meta 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