Covercy to Unveil Online Bank Accounts for CRE Investment Assets at NMHC Annual Meeting

NEW YORK, USA, January 14, 2022 /EINPresswire.com/ — Covercy, the platform for commercial real estate (CRE) investment companies that combines CRE banking and investor administration, is set to release a suite of CRE banking features on January 18 during the NMHC Annual Meeting in Orlando, Florida. CRE investment GPs will now be able to open FDIC-insured online bank accounts for assets or funds without the need to physically visit a bank.

“Typically, CRE investment firms manually manage dozens of bank accounts and hundreds of investment positions,” explained Doron Cohen, CEO of Covercy. “Each is disconnected from the other. Manual distribution payments, manual capital calls, manual reconciliations. All manual. Our clients can now open bank accounts specifically designed for the unique needs of CRE investment companies. Effectively eliminating manual efforts, our accounts offer automated distributions and in-platform payouts, which are fully linked to their investor portal. And this is only the beginning of our roadmap!

CRE banking services include intelligent online distributions automatically calculated on investor accounts (LP). GPs will be able to automatically calculate the distribution amount per LP and then execute the distribution directly to the respective bank accounts.

“Streamlining CRE banking functions onto a single platform not only improves efficiency by eliminating the tedious process of instructing bank transfers, exporting NACHA files, or writing and sending paper checks, but it also reduces fraud, significantly reduces the risk of bank transfer errors and creates a new security standard in the processing of financial investment transactions,” noted Idan Hahn, CTO of Covercy.

In addition to the new CRE integrated banking services, Covercy will present its new investor portal. LPs can log into their accounts to view all relevant information about 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 sales@covercy.com.

To learn more about our CRE banking services, please schedule a demo at https://covercy.com/demo

About Covercy
Covercy is the CRE Investor Banking & Investor Administration platform. We help more than 100 commercial real estate investment firms streamline distributions, strengthen investor relations and boost fundraising. In addition, our clients’ 6,000 investors use the Covercy platform to assess investment opportunities and manage their portfolios.

Our products are built on our unique CRE Banking Core. This architecture uniquely enables one-click distributions, online processing of cash calls, escrow accounts and more. Covercy adheres to 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 customers against the unlikely occurrences of theft, cybercrime, 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 fintech company, not a bank. Banking services provided by Choice Financial Group; FDIC member.

Doron Cohen
Blanket
doron.cohen@covercy.com


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David A. Albanese