Automated Escrow Ecosystem for Real Estate, Home Owner and Commercial Escrow and Trust Account Management
AutoEscrow provides state of the art solution for Escrow and Trust account management for Property Management, Home Owners and Commercial Escrow regulated under RERA, RAK, WAFI and MOLLAK under single umbrella.
AutoEscrow Catalogue
Complete Automation of Business Operations
Better Customer Service – Quicker TATs
Compliance to Central Regulated Policies
Centralized System – Integrated with multiple bank entities
Complete FinancialControl – Shiftingcashflow control fromborrowers toEscrow/TRA Agent
Instant, scheduled & bulk payment transfers through integration with core banking systems
Better Liquidity Management
KRI Dashboard offers Business Intelligence for better management decisions
Escrow and TRA Management
AutoEscrow provides simplified solution for financial control for all types of Escrow and TRA account transactions such as Sale-Purchase, Real Estate, Revenue/Profit sharing, Project financing and lending, TRA transactions.
Fund Deposit
AutoEscrow bring forth customizable categories for all types of Deposit and Expenses. More to it, AutoEscrow provides a platform to classify funds by splitting and allocating manually, automatically as well as through bulk upload.
Expense Budget and Payments
AutoEscrow supports state-of-the-art payment methods like Voucher Payments, Auto-Debits and Bulk Payment Upload integrated with the core banking system.
Product Features
Real-time transaction status for deposit and payment integrations with any core banking system.
Safe authentication process integrated with core banking system for all kind of deposits and payments.
AutoEscrow allows different types of entities to be recorded and linked for Escrow arrangement. Escrow Arrangement can be completed using deal setup for different parties and counter-parties as well as set up Developer-Project-Unit-Owner relationship.
AutoEscrow provides configurable tree structure for all kind for unit structure example: Flats, Villas, Buildings, Floors, Towers etc.
Escrow account management with different sub account for fund division. AutoEscrow provides all kinds of a fund management for sub-account with Automatic, manual and bulk upload setup.
Configurable authorization for all financial and non-financial transaction at all levels.
AutoEscrow is 100% compliant to regulatory bodies such as RERA, RAK, ARRA, WAFI and Mollak.
AutoEscrow can track expense tagged for each budget line item for every kind of expense line item. Available vs expensed budget can be tracked and published.
AutoEscrow provides real-time payment transactions integrated with core banking system. Payment can be one-time, scheduled payments in form of Auto-Debit as well as bulk payments with excel upload.
AutoEscrow supports Payment Plan for Unit purchase for all owners. Payment plan can be structured manually as well automatically.
AutoEscrow is a configurable platform for workflow management with up to 5 levels.
AutoEscrow provides functional and integration dynamic dashboard that ensures financial control. The user-customizable dashboard reveals project and deal statuses with deposit categories as well as expenses.
Frequently Asked Questions
An Escrow Account is an arrangement for safeguarding the borrower against its customers from the payment risk for the goods or services sold by the former to the latter. This is achieved by removing the control over the cash flows from the hands of the customer to an independent agent, who in turn could ensure appropriation of cash flows as per the mandate. The Escrow arrangement provides for directing a pre-determined payment stream from the customers of the borrower to a special account maintained with a designated agent. Payment/deposit by the user/buyer into such an account is assumed to be a valid discharge of his liability to the supplier of the goods/services.
AutoEscrow hits CBS for real-time payments from Escrow Account.
Yes, Escrow account can be managed with sub-account with percentage allocation. System will automatically allocate funds based on percentage.
Yes, AutoEscrow Supports 5 budgets for consecutive years. Budget for current year remains active and others inactive.
The TRA mechanism has been a common feature in financing of infrastructure projects. It seeks to protect the project lenders against the credit risk (the risk of debt service default) by insulating the cash flows of the project company. This is done through shifting the control over future cash flows from the hands of the borrowers (project company) to an independent agent, called TRA agent, duly mandated by the lenders.
AutoEscrow provides a platform to register Project Lenders to insulate the cash flow. Lenders can easily management Trust and Retention Account along with Bank operation.
AutoEscrow has a platform where each infrastructure or construction project along with its units and developers can be assigned with RERA or Mollak number.
AutoEscrow can provide financial reporting based on all of mentioned compliances.
AutoEscrow provides a number of different products which cater to specific requirement for commercial Escrow, real estate and home owners.
These can be combined under the one umbrella of “AutoEscrow.” AutoEscrow is a single solution for all the different types of escrow management.
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