Eisen and Checkbook Launch Disbursement Hub: Simplifying Nationwide Payouts
Account closures and fund disbursements are essential components of the financial lifecycle. To address the evolving needs of banks and fintechs, Eisen is excited to announce Disbursement Hub, a new solution designed to streamline payment disbursements and ensure compliance with consumer protection regulations.
Regulatory Changes and the Need for Efficient Disbursements
The Consumer Financial Protection Bureau (CFPB) has increased its enforcement efforts, emphasizing the prompt handling of refunds during account closures. This has put financial institutions under pressure to align their processes with regulatory requirements. Disbursement Hub provides a comprehensive solution to help institutions efficiently manage the complexities of account closures and fund disbursements.
Eisen's Solution for Account Offboarding
Eisen focuses on three critical phases of closing customer accounts: Outreach, Disbursement, and Escheatment. Our meticulous attention to detail ensures compliance with regulatory timelines and streamlines the account offboarding process.
Partnership with Checkbook
Eisen collaborated with Checkbook to develop Disbursement Hub to replace manual workflows, reduce errors, save time, and ensure timely compliance with regulatory guidelines. This partnership sets a new standard for account offboarding, supporting large-scale operations with ease.
Benefits of Disbursement Hub
Disbursement Hub enables quick and scalable mass payment disbursements. Once payments are sent, Eisen reconciles each one and monitors unclaimed payments for escheatment to comply with state laws, providing a seamless end-to-end solution.
Reach out to us at contact@witheisen.com to discuss your disbursement needs.
About Eisen
Eisen specializes in account offboarding solutions for financial institutions, helping streamline compliance with account closure requirements.
About Checkbook
Checkbook is an innovative payment technology company offering a versatile platform for businesses to simplify disbursements and scale their payouts with digital payment solutions.
Eisen is the first Account Offboarding company.
Financial institutions use Eisen's escheatment, disbursement, and outreach tools to streamline account offboarding while automating manual work and reducing risk of non-compliance.
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