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BankUnited Brings the Bank to You

Photography by Jill Lotenberg

Streaming entertainment services and online ordering of everything from food to transportation have changed how we live. Now, real estate owners and property managers are integrating technology to revolutionize how they do business.

“For property management clients, everything is ‘on demand,’” says Meghan Hallinan, senior vice president and leader of BankUnited’s property management team. “Automation in the accounts receivable and accounts payable space has dominated this industry over the past five years, and yet the old-fashioned value of being able to quickly speak with your banker has never been more important to keeping your business nimble.”

Ranked by Crain’s New York Business as one of the New York Area’s top 25 commercial banks, BankUnited is also among the top 10 in American Banker’s nationwide 2018 Reputable Banking Survey.

With total assets of $32.2 billion as of December 31, 2018, BankUnited, Inc., the bank holding company of BankUnited, N.A., is preparing for its 10th anniversary this year. Recognized for its strong service-oriented relationships, BankUnited has continued to improve its systems and technology to better serve the real estate industry, which is what attracted Hallinan to BankUnited four years ago.

“Being able to provide the best service and technology to my clients is how I’ve become successful over the last 10 years in this industry,” adds Hallinan.

Services that Deliver for Tenants and Owners

The younger generation grew up in a world of computers and handheld devices, and, as they begin buying and renting, they want the ability to access their accounts digitally.

“Being able to integrate receivables with a client’s current software, branding and acceptance rules is a must-have product feature,” Hallinan explains. “When we looked at what was driving the market and what could be delivered, BankUnited decided to partner with Clickpay, the leading real estate receivables company. Together we have created a great lockbox, electronic payment processing and e-billing experience for both the property manager and the tenants or residents.”

BankUnited offers a secure online treasury management portal that includes eSolutions, its sophisticated sub accounting platform that gives property managers the ability to open sub accounts for tenant security deposits or escrow funds in real-time. This user-friendly platform provides access to multiple services from a single sign-on. It also allows owners and board members access to their specific accounts, while providing full access across all accounts to the management firm.

Bringing the Bank to You

BankUnited puts a bank branch in the customer’s office through two sought-after services. With onsite remote deposit, customers can deposit checks with same-day credit and availability, while the eSolutions platform offers them the ability to open or close sub accounts and move funds immediately.

“This is our niche,” Hallinan continues. “As you grow, we can help you maximize deposits as well as deploy the best technology to get you on board and up and running very quickly. We can streamline the process and set up an account in a single day.”

Safeguarding Data

From its own security protocols and systems to having its security team review a client’s IT security, BankUnited is committed to protecting and safeguarding data.

BankUnited’s Fraud Prevention Services include ACH alerts that give the pay or no pay control to its customers who receive notice of incoming ACH debts online. Taking place in real-time before a debit posts, customers can spot fraud and create a pre-approved list for future transactions.

BankUnited positive pay protects against check fraud, as all checks are verified against a daily file provided to the bank, including payee information. Pay or return decisions via the secure web-banking portal can be made for any check presented for payment that was not included or does not match the details provided.

A Collaborative Partner

While technology continues to evolve, the ability to call someone who is dedicated to your relationship and not an 800 number is paramount in today’s fast-changing business environment.

“Amid the increasing rate environment and continued consolidations, property managers want to maximize deposits and offset bank fees and we get that,” says Hallinan. “We offer competitive interest rates on money market and reserve accounts, but we can also arrange to help offset bank fees so associations and management firms don’t have to pay for banking services unless absolutely necessary.”

“My team and I are constantly in touch with our clients to learn how their needs may be changing,” Hallinan continues. “Successful relationships cannot be ‘set it and forget it.’ BankUnited has dedicated relationship managers and senior leadership that supports keeping the client front and center.”

 

Meghan Hallinan, Senior Vice President

commercial private banking

212-705-8673

 

Jaclyn Coffin, senior vice president

Treasury Management Sales Manager

631-777-4956

 

Joe Roberto
Senior Executive vice president and
president of banking operations
212-356-7626