Ascent AutoEscrow© is a fully automated Escrow & Trust Account Management Software Suite for banks and NBFC’s. The suite has predefined modules to cater to regulations of RERA, CBUAE Insurance Escrow bearing no. CBUAE/BSD/N/2022/4775, Mollak, and also configurable to meet any organization specific requirements. AutoEscrow has four important modules:
Ascent’s AutoESCROW offers complete automation of business operations like account onboarding, automated receivable categorization, real time payements [one time, auto-debit, and bulk upload], budget management, which reduces errors, and accelerates processing times by enhancing security and transparency.Request a Demo
Our escrow trust account management software operates within the legal framework and meets the necessary regulatory requirements.Request a Demo
AutoEscrow allows banks to shift cash flow control from borrowers to Escrow /TRA Agents, providing complete financial control, ensuring that funds are properly managed, monitored, and disbursed in accordance with agreed-upon terms.Request a Demo
AutoEscrow enables businesses to optimize their cash flow by providing a centralized platform for managing and disbursing funds, improving financial forecasting, and enhancing cash position management.Request a Demo
By displaying key risk indicators and other relevant metrics, helping businesses to make informed decisions and improve their risk management strategies.Request a Demo
AutoEscrow offers simplified advanced features which enables financial institutions to manage cross currency transactions across the globe for deposits and payments in manual and automated processes.
Manual processes were not only inefficient, but were leading to huge fines imposed by RERA due to manual errors in reporting.
An Escrow Account is a method of protecting borrowers from payment risks posed by their customers for goods or services sold. It involves transferring control of cash flows from customers to an independent agent who ensures the appropriate appropriation of funds as per the mandate. The arrangement involves directing a predetermined payment stream from customers to a special account held by a designated agent, with deposits into the account considered a valid discharge of the buyer's liability to the supplier.
AutoEscrow hits CBS for real-time payments from Escrow Account.
Yes, the Escrow account can be managed with a sub-account with percentage allocation. The system will automatically allocate funds based on percentage.
Yes, AutoEscrow Supports 5 budgets for consecutive years. The budget for the current year remains active and others are inactive.
The TRA mechanism is used to protect project lenders by transferring control of cash flows from the borrower to an independent TRA agent. AutoEscrow offers a platform for project lenders to register and manage trust and retention accounts, as well as bank operations.
AutoEscrow's platform enables the allocation of RERA or Mollak numbers to infrastructure and construction projects, as well as their respective developers and units. The system can also generate financial reports in compliance with these regulations
AutoEscrow caters to various products tailored to meet the needs of commercial escrow, real estate, and homeowners. These products can be unified under the AutoEscrow umbrella, providing a comprehensive solution for all escrow management needs.