Northern Bank launches ZEscrow and ZRent in partnership with ZSuite Technologies

Woburn, Massachusetts, May 15, 2023 - Northern Bank, a full-service community and business bank, today announced the addition of ZEscrow and ZRent to its growing portfolio of digital financial solutions.

ZEscrow automates the processes and procedures necessary to open, close, maintain and service escrow, trust and custodial accounts. It is an ideal solution for Northern Bank customers who require escrow solutions with self-serve capabilities.

ZRent is a digital ACH rent collection tool that simplifies the monthly rent collection process for landlords and property managers. With ZRent, customers no longer need to collect and process paper checks.

The new technologies launched to the bank's customers on May 15, 2023.

ZSuite Technologies Inc., launched by a local community bank's internal product development team back in 2015, is popular among property managers, landlords, municipalities, government entities, unions, law firms, real estate offices, builders, nonprofits, nursing homes, and title companies.

The addition of ZEscrow and ZRent bolsters Northern Bank's cash management service offerings to property management professionals. The new capabilities are also available to all Northern 1031 Exchange clients.

The bank's deposit suite specifically provides property management companies with escrow master, tenant escrow savings and HOA reserve savings accounts. Through Northern 1031 Exchange, the bank helps individuals defer taxes when selling an investment or business property. And, through the bank's commercial lending division, it provides access to funding for building upgrades or other capital improvement needs for condo associations.