With New York having a large inventory of rental apartments, Signature Bank identified a source of new deposits from landlords who are required to keep tenant security deposits in an interest bearing escrow account. Signature required a system that would enable it to effectively and efficiently manage tenant accounts. What Escrow Manager provided Signature was a customized Security Tracker Landlord/Tenant security deposit processing software
application. With Security Tracker, the bank has the capability to meet its needs, as well as the needs of its clients, and to do so in a cost-effective manner.
As a commercial bank, Amboy National Bank manages escrow accounts for a number of law firms, building contractors, real estate brokers, and others. These types of businesses require multiple accounts and sub-accounts to serve their clients' needs. Amboy National Bank turned to Escrow Manager's Master/Sub Tracker software. Master/Sub Tracker allows
the bank to create one master account for each of its clients. Those master accounts then contain sub-accounts, based on the needs of the client.