Entrata Announces New Enhanced Account Verification

November 17 2020


New Service to Reduce Fraudulent Payments, NSFs and Returns

LEHI, UTAH - November 17, 2020 - Entrata, the multifamily industry’s most comprehensive technology provider, today announced the introduction of a new bank account verification service. With the new enhancements, Entrata will be able to offer real-time account verification and balance confirmation that will significantly reduce the number of fraudulent payments, NSFs and other returns.

The new service, available to Entrata partners beginning in December, is a comprehensive solution that will be integrated with ProspectPortal®, ResidentPortal, and the ResidentPortal mobile app.

“We’re excited to provide this new offering because we’re dedicated to making sure our industry has access to seamless, efficient and safe online payments,” said Chase Harrington, president and chief operating officer at Entrata. “This will save our partners and their residents a significant amount of time and labor by eliminating nearly all payment returns.”

Entrata’s decision to introduce enhanced account verification keeps the company ahead of regulatory policies and strengthens its reputation as a leader in payment technology. Beginning in March 2021, account verification will be required in accordance with the upcoming NACHA regulation ACH Operations Bulletin #4-2019.

Entrata is offering incentives and discounts to partners who choose to opt-in before March 2021 in order to encourage early adoption.

To learn more about this service, please register for a webinar hosted by Entrata on Thursday, December 10 at 12:00 p.m. MST.

For more information, please contact us at residentpay@entrata.com.

ABOUT ENTRATA

Founded in 2003, Entrata® is the only comprehensive property management software provider with a single-login, open-access Platform as a Service (PaaS) system. Offering a wide variety of online tools including websites, mobile apps, payments, lease signing, accounting, and resident management, Entrata® PaaS currently serves more than 20,000 apartment communities nationwide. Entrata’s open API and superior selection of third-party integrations offer management companies the freedom to choose the technology and software that best fit their needs. For more information, go to www.entrata.com.

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