Rynoh Releases Escheatment Software
May 17, 2022
Escrow and financial security software solution Rynoh launched its tracking and reporting software for unclaimed funds.
Called RynohEscheat, the cloud-based software integrates with a user’s bank account (read-only access) to make it easier to stay informed about outstanding checks and notify the appropriate parties.
“Developing time-saving, technology solutions to tackle laborious, manual processes is what drives us, especially when individual state regulation compliance and potential fines or penalties are involved,” said Mary Gomez, president of Rynoh.
According to Rynoh, the solution provides:
- Due Diligence Requirements and Letters: This feature generates a prepared letter that meets state requirements for notifying owners of their unclaimed funds.
- State Submission Compliance: The RynohEscheat provides each state’s escheatment reporting regulations.
- Avoid Penalties: Faster error discovery and correction makes staying compliant effortless.
“There are tens of billions of dollars in unclaimed funds in the U.S.,” Gomez said. “We want to help our clients ensure they aren’t unknowingly holding on to any of those funds.”
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