Transparency, Security And Compliance. Three Pillars Of Financial Protection.
Today, a growing number of third-party administrators offer technology solutions and services that can automate or offload many routine business processes, from creating claim forms to providing timely email notifications. But when it comes to administering complex financial transactions, cost-saving and efficiency-producing technologies and service solutions must also address the fundamental imperatives of transactional transparency, financial security and regulatory compliance.
This is why NES Financial has built a highly scalable technology platform, featuring a set of innovative services that provides complete process transparency and protection of funds, delivers comprehensive document archival, allows for 24/7 account visibility and has unlimited sub-accounting capabilities.
NES Financial requires its operating divisions to annually subject their business processes, financial controls and technology solutions to independent audit under SAS 70 Type II audit provisions. As such, their service offerings are in compliance with Section 404 of Sarbanes-Oxley Act and other critically important financial regulatory statutes, including the Bank Secrecy Act and the Gramm-Leach-Bliley Act (privacy provisions). These measures serve to reduce fraud and theft and ensure transparency on behalf of all the participants involved in the administration of a complex multiparty escrow or trust.
Transparency
- Fully documented audit trails
- 24/7 online account visibility
Security
- Qualified Escrow Accounts
- Qualified Trust Accounts
- 100% FDIC insurance
- Outstanding custodial banking partners
Compliance
- SAS 70 Type II (certification)
- Sox 404
- Bank Secrecy Act
- Gramm-Leach-Bliley Act (privacy provisions)
- Office of the Comptroller of the Currency (financial operational guidelines)