Needham Bank adds ZDeposit to make opening and managing tenant security deposits easier and completely digital

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Needham Bank is now offering ZDeposit, a completely digital tool for property managers and landlords to manage all aspects of their tenant security deposit accounts.

Needham Bank is now offering ZDeposit, a completely digital tool for property managers and landlords to manage all aspects of their tenant security deposit accounts. From any device of their choice Needham Bank customers can open, fund, manage, and release funds at will. ZDeposit also automatically facilitates compliance with the various state-level laws regarding tenant security deposits such as generating disclosures, delivering them, and sending annual interest payments directly to tenants.

“Delivering new digital channels for our customers is more important now than ever before, but especially so when they solve big pain points customers feel. ZDeposit does just that for property managers and landlords in regard to their tenant security deposits,” shares Joseph P. Campanelli, President and CEO of Needham Bank.

“Opening and managing tenant security deposits has long been a manual, arduous task for landlords,” said Nathan Baumeister, CEO of ZSuite Technologies who is Needham Bank’s development partner on ZDeposit. “We are proud to be partnering with Needham Bank to both digitize and automate the whole process.”

ZDeposit is the second product that Needham Bank has brought to market through their partnership with ZSuite Technologies. Needham Bank already offers ZRent, a digital platform that automates the collection of rent and condo fee payments. By offering both ZRent and ZDeposit Needham Bank has some of the most powerful digital tools to help property managers and landlords manage their businesses.

About Needham Bank

Needham Bank offers an array of tech forward financial products and services including commercial loans and cash management services, consumer deposit and loan accounts, mobile and online banking and residential mortgage loans. We have the financial expertise typically found at much larger institutions, and the local knowledge and commitment you can only find at a community bank. Known as the “Builder’s Bank”, Needham Bank has been helping individuals, businesses and non-profits build for their futures since 1892. For more information please visit https://NeedhamBank.com. Needham Bank is a member of FDIC and DIF.

About ZSuite Technologies

ZSuite Technologies is a financial technology company that aims to power banks and credit unions with differentiated banking solutions for profitable client segments. ZSuite's products ZRent (zrent.net) and ZDeposit (zdeposit.net) streamline rent and condo due payments, digitize security deposit account opening, and enable state-specific security deposit compliance. To learn more about ZSuite Technologies and how it can help your financial institution, please visit https://www.zsuitetech.com.

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Nathan Baumeister