06/30/2017: Seneca Savings Partners with ZRent to Offer Automated Rent Payments
Posted Date: June 16, 2017
Arlington, MA – ZRent, a division of Leader Bank, is proud to welcome Seneca Savings to its expanding network. ZRent partners with financial institutions, allowing them to provide online rent collection services to their landlord and small business customers. This added value gives Seneca Savings and ZRent’s other partner institutions a substantial competitive advantage and increased customer loyalty. The new relationship with ZRent will allow Seneca Savings’ landlord and tenant customers to fully automate the rental payment process at no cost to the end user.
“We are thrilled to welcome Seneca Savings into the growing ZRent network. We look forward to introducing their customers to the many benefits of ZRent,” said Jay Tuli, the Senior Vice President of Retail Banking at Leader Bank. “We know that both Seneca Savings and especially their landlord customers will find a great value in ZRent. Automating the rent collection process will save landlords time, the hassle of chasing down late payments, and making the monthly trip to the bank!”
“ZRent is another great example of the technology we provide to keep up with our customers’ ever-changing needs,” said Joseph G. Vitale, President/CEO and Director of Seneca Savings. “It provides a simple, convenient solution for our customers who are looking to efficiently manage and streamline their ongoing rent collection.”
ZRent works by automatically deducting rent payments from the tenant’s bank account and depositing them directly into the landlord’s account. Tenants can set and forget their monthly payments, and landlords will no longer have the hassle of collecting checks and making the trip to the bank. ZRent also provides peace of mind for the landlords, who will now receive one complete payment for each unit on the same day every month. ZRent is free of charge for any landlord that banks with one of the participating institutions, which currently include Seneca Savings, StonehamBank, and Leader Bank.
About Seneca Savings
Seneca Savings has a rich history since it was first chartered in 1928 in upstate New York. The current president/CEO, Joseph Vitale, came to the bank in 2013 with a continued focus of offering exceptional, personal community-based product and services that sets it apart from the ‘big’ banks. Seneca Savings has assets of $168,581,000 with three offices located in Baldwinsville, North Syracuse and Liverpool with forty-three employees. Visit Seneca Savings’ website at www.SenecaSavings.com or any one of the Bank’s convenient branch locations for more information. This Member FDIC bank is regulated by the Office of the Comptroller of the Currency.
ZRent was launched in 2015 as a cash management tool that allows for the electronic collection and processing of rent payments. ZRent’s goal is to provide a convenient solution that will make the rent collection process a seamless and “set and forget” experience for both landlords and tenants. As an independent division of Leader Bank, ZRent is available to other financial institutions as a cash management tool for property owners and condo associations. Banks that partner with ZRent will be able to offer the product to their customers completely free of charge.