Leading Business Bank Supports Property Management Clients with Direct Integration to Applications That Run Their Business
The property management/HOA market represents a significant opportunity for this leading business bank. Property management is a unique industry governed by specific business rules for managing accounting procedures. Financial institutions are often eager to work with these companies because they are typically “high asset” clients.
In order to best meet the needs of property managers and HOAs, the bank sought a secure, reliable way to make timely, actionable data accessible through the apps and solutions they rely on to run their businesses, such as Vantaca, FrontSteps (formerly Caliber), and Appfolio.
By enhancing its digital services to include seamless integration with these tools, the bank could more easily acquire new property management customers and build greater retention among existing ones.
File downloads aren’t ideal for sharing data with these solutions. Property managers must maintain separate accounts for various aspects of their business. Additionally, there are other issues to contend with – complex transaction flows, unique processes for collecting and logging payments from residents, and guidelines for how end-of-month statements must be reconciled. This poses challenges when it comes to data sharing.
The Ninth Wave Platform overcomes these obstacles, providing the turnkey native integrations the bank needs to efficiently and safely share banking data with these solutions.
Property managers and HOAs can incorporate their financial information directly into their operational workflows, obtaining a holistic view of their accounts, payments, monthly statements, and other transactions from directly within the apps they use to streamline business operations.
By offering a superior digital experience, the bank can differentiate itself from its competitors, optimizing acquisition and retention of these high-value customers.