Mass Bankers Association Partners with ZRent to Offer Rent Payment Technology to Financial Institutions

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The Massachusetts Bankers Association announces its newest Preferred Vendor relationship with ZRent.

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The Massachusetts Bankers Association is pleased to announce its newest Preferred Vendor relationship – ZRent – a rent payment technology offered to financial institutions to attract deposits in the landlord and condo association segments.

ZRent (http://www.zrent.net) is an online rent payment platform that allows landlords and condo associations to collect electronic payments from their tenants and unit owners. ZRent automates and streamlines the collection process, eliminating the need for paper checks. ZRent boasts many unique features such as: roommate rent sharing, a management dashboard, consolidation of tenants’ payments, transaction descriptions by property address, and monthly management reports.

ZRent, a division of Leader Bank, is an innovative solution to help community financial institutions offer an added-value service to their property owner clients, while attracting business deposits.

“We are really excited to be the newest preferred vendor of the Massachusetts Bankers Association,” says Jay Tuli, SVP of Retail Banking at Leader Bank and Founder of ZRent. “We look forward to working with the association and having an opportunity to show its members how a partnership with ZRent can really benefit them.”

Financial institutions that partner with ZRent will realize the following benefits:

Increase deposits: Landlords can use ZRent for free if their rent payments are being deposited into an account at a “participating institution.” Landlords who do not currently have an account at a participating institution are therefore highly incentivized to make the switch!

Attract property owners: Offering ZRent as a free solution to commercial and investment property owners will help attract them to partner institutions. This unique time-saving service allows financial institutions to gain the attention of landlords and their deposit accounts.

Provide better service to existing commercial clients: ZRent is a great addition to the cash management suite to assist commercial lenders in gaining their borrowers’ deposit accounts.

You can learn more about ZRent and how it works by going to: http://www.zrent.net.

To inquire about becoming a partner institution, contact ZRent directly via telephone at 781-641-8691 or by sending an email to zrent(at)zrent.net.

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