Riverstone Residential Selects Speranza Command Center™

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Property Management Firm Will Deploy Property Management Specific Version of Bank Management System to Navigate Account and Signer Activity

The property manager is often tasked with opening, closing and maintaining accounts and signatory rights for accounts they do not own. We provide these companies with the ability to take control of their banking needs by automating processes that have traditionally caused headaches and delays.

Speranza Systems, the leading provider of global bank account, bank mandate and bank relationship management systems, today announced that Riverstone Residential has licensed the Real Estate and Property Management version of the Speranza Command Center™. The system helps real estate firms manage the complexities and high volume of account and signatory requirements, and is available as a service or as an application. Speranza Command Center provides unique workflow components and generates the appropriate forms and documentation necessary to effectively administer bank accounts associated with real estate acquisitions.

Real estate and property management companies require specialized approvals, processes and forms of documentation for their corporate banking relationship. In addition, there is typically a high volume of activity as new properties are built, bought and sold. There are also unique legal requirements that require a customizable workflow for companies to stay on top of their paperwork.

"Speranza Command Center™ is expected to assist us in achieving even greater efficiencies with our banking processes," said Julie McDonald, treasury manager, from Riverstone Residential. "We look forward to implementing a more controlled, auditable environment."

Speranza Command Center™ is a Web-based platform that streamlines how companies interact with their financial institutions. Corporate finance teams and their banks use Speranza Command Center™ to automate the identification and authentication process, improve control and regulatory compliance, and improve the visibility on audit trails. The product streamlines several functions related to bank relations, including: exchanging banking mandates, opening a bank account, administrative changes related to the account (i.e., addresses, changing account name), adding/removing account services, adding/changing signers, and closing accounts.

"Companies in real estate and property management are faced with significant challenges in terms of bank relationship management because property under management may take different legal forms and forms of ownership," said Glen Solimine, chief executive officer of Speranza Systems. "The property manager is often tasked with opening, closing and maintaining accounts and signatory rights for accounts they do not own. We provide these companies with the ability to take control of their banking needs by automating processes that have traditionally caused headaches and delays."

About Speranza Command Center:
Delivered either as a subscription service or an installed application, the system helps you access, process, disburse, and audit all of the information related to your banking structure. More than that, the system serves as a centralized repository -- a "record of truth" -- for the myriad information about your bank relationships. Now, you can have a single source for all your global accounts, internal signatories, authorization thresholds, and supporting documentation -- all at your fingertips.

The System will help you:

  •     Automate traditional paper-based processes for account and signer management
  •     Mitigate risks and exposure associated with unauthorized access to corporate accounts
  •     Accelerate cycle times associated with account openings/modification and signer and mandate changes
  •     Facilitate audit-support information at the touch of a button
  •     Help ensure corporate governance is enacted within every transaction

About Speranza Systems:
Speranza Systems recognizes the complexities faced by mid-to-large size businesses and has built an enterprise-class framework to simplify and track complex financial relationships. Speranza Systems is defining bank relationship management to include control of the delegation of authority, execution of the appropriate mandates, business intelligence, automatic document generation, digital rights, and digital signatures. Speranza Systems knows that the right tools can leverage regulatory requirements, cut through chaos, and utilize electronic efficiencies to turn compliance into competitive advantage. For more information, please visit http://www.speranzasystems.com.

About Riverstone Residential:
Riverstone Residential, a subsidiary of CAS Partners, is the largest privately owned residential management company in the United States. Focused exclusively on the delivery of world-class property and asset management services, the company manages a portfolio of assets valued at more than $25 billion for leading institutions, pension funds, developers and other major owners. Located in metropolitan markets across the nation, properties include high-rise, mid-rise and garden-style communities. The company is headquartered in Dallas, Texas. Additional information is available at http://www.RiverstoneRes.com.

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Glen Solimine
Speranza Systems
207.699.2720 ext. 20
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