Covercy to Unveil Online Bank Accounts for CRE Investment Assets at NMHC Annual Meeting
January 14, 2022
NEW YORK, US, January 14, 2022 /EINPresswire.com/ -- Covercy, the platform for commercial real estate (CRE) investment firms to combine CRE banking and investor administration, is slated to release a suite of CRE banking features on January 18th at the NMHC Annual Meeting in Orlando, FL. CRE investment GPs will now be able to open online FDIC-insured bank accounts for assets or funds with no need to physically go to a bank.
“Typically CRE investment firms manually manage dozens of bank accounts and hundreds of investment positions,” explained Doron Cohen, CEO of Covercy. “Each one is disconnected from the other. Manual distribution payments, manual capital calls, manual reconciliations. Manual everything. Our customers can now open bank accounts specifically crafted for the unique needs of CRE investment firms. Effectively eliminating manual efforts, our accounts feature automated distributions and in-platform payments, which are fully linked to their investor portal. And this is only the beginning of our roadmap!”
CRE banking services include smart auto-calculated online distributions into investors’ (LPs) accounts. GPs will be able to auto-calculate the distribution amount per LP and then execute the distribution directly into the respective bank accounts.
“Streamlining CRE banking functions in one platform not only improves efficiency by eliminating the clunky process of instructing bank transfers, exporting NACHA files or writing and mailing paper checks, but it also reduces fraud, greatly reduces risk of bank transfer errors, and creates a new standard of security in dealing with financial investment transactions”, noted Idan Hahn, CTO of Covercy.
In addition to the new integrated CRE banking services, Covercy will be showcasing its new investor portal. LPs can log into their accounts to see all relevant information on their assets as well as reports, tax forms and transaction history.
GPs interested in meeting Covercy at the NMHC Annual Meeting in Orlando can schedule a time to chat by emailing email@example.com.
To learn more about our CRE banking services, please schedule a demo at https://covercy.com/demo
Covercy is the CRE Investor Banking & Investor Administration Platform. We help more than 100 commercial real estate investment firms to streamline distributions, strengthen investor relations and boost fundraising. In addition, our clients’ 6,000 investors use the Covercy platform to evaluate investment opportunities and manage their portfolios.
Our products are built on top of our one-of-a-kind CRE Banking Core. This architecture uniquely enables one-click-distributions, online capital call processing, escrow accounts and more. Covercy follows strict anti-money-laundering and data protection laws. Thanks to its strict compliance, Covercy is insured by a syndicate led by Markel, one of the largest insurers in the world, further protecting clients from the unlikely events of thefts, cyber crimes, errors and omissions.
Covercy is backed by Silvertech Ventures, Group 11 and Altair VC. The company has offices in New York, London and Tel Aviv.
Covercy is a financial technology company and is not a bank. Banking services provided by Choice Financial Group; Member FDIC.