Escrow Management SoftwareRegulatory

ComplianceEnd-to-End Automation

Process Oriented

Ascent Global Presence

About RERA

Why Promart Escrow

Promart Escrow Life Cycle

Promart Escrow Features

Technical Highlights

Case Study

Our Customers

Index

UAE began to enact laws to help protect property buyers from unscrupulous or unreliable developers. RERA mandates that all off-plan projects have a separate escrow account and Escrow funds are to be released dependent on project completion milestones, which must be verified by registered 3rd party inspectors.

RERA mandates that all the Inflows/outflows are reported on a regular basis (Monthly/Yearly).

New regulations that will be enforced in the upcoming months by Real Estate Regulatory Authorities will enforce Banks to integrate with RERA directly. Regulatory Authorities will start pushing Deposits/Payments Requests to the Banks directly through technical interfaces.

About RERAAbout RERA

Why Promart Escrow?

1

Financial Control –Shifting cashflow control from borrowers to Escrow/TRA Agent

2

Compliance with multiple Regulatory Authorities (RERA, RAK, AD, ARRA and WAFI)

3

Better Customer Service –Quicker TATs

4

Complete Automation of business Operations

5

The ONLY Solution in the Market that is integrated with RERA Regulated Naqodi (TAS) interface

6

Configurable Approval Workflow management

7

Dynamic real time KRIs through Dashboard/ Reports

8

Seamless Solution integration with Bank Core Systems like T24, Flexcube, and Finacle

Why Promart Escrow?

PROMART ESCROW©

INTEGRATIONPROMART ESCROW©

BENEFITS

LDAP

HRMS

MQ

NOTIFICATION EMAILS/SMS

Regulation Authority Compliance

RERA / RAK / AD / SAMA

Project Onboard/ Off Plan Unit

Fees config/Beneficiary Setup

Link Projects to Developers

Owner Onboarding/ Sell

Unit/ Link Units to Owner

Owner Payment Plan

Setup

Deposits Classification

Developer/ Customer

Portal

Real Time Payments

Dashboard

6

39

1

2

4

57

8

10

12

Developer Onboard

100% Regulatory Authority compliant Reports

BANK CORE T24 iFLEX

etc

Highly Scalable

Quick uptimeNo Maintenance

Live Custom Report

Bank Core Integration T24,

iFlex, etc

Automated Payments

Automated Retention Filtering

PROMART ESCROW© RERA LIFE CYCLE

Reports11

PROMART ESCROW©

BUSINESS SECTOR

BANKS

ESCROW AGENCIES

LAW AGENCIES

Pre-defined Reports as per RERA, Abu Dhabi, RAK, ARRA, and SRERD

Developer, Project, Owner, and Off-Plan Unit Structure creation

Configurable Maker, Checker and Reviewer workflow

Automated Deposit Classification and Retention Maintenance

Instant Payment Transfers through Bank Core integration

Max cap validations for different payment categories

Authorization matrix - Configurable multiple levels of verification and approvals

Different Reports/Dashboard for different

Business Intelligence through KRI Dashboard for better Management decision

Trusts, Builders, and Projects expenditures, and revenues can be viewed as per regulatory guidelines

Guarantee Registration Module

Promart Escrow FeaturesPromart Escrow Features

Completely configurable Solution

Integration with Core banking solutions like IBM Flex, T24, etc.

Integration with MQ, LDAP, SOAP Webservices, etc.

Provision to prioritize different automated payments

User Management – Role Based Access Control

Integration with Email/SMS

Configurable Reports and Dashboard

Workflow monitoring and Alerts

Document Management Systems

Single Sign on/ LDAP

Technical Highlights

Challengesn Stability, Usability and acceptability of the current

systemn Business Continuity was done through excel

spreadsheets and manually on files based documentation.

n Delay in notification. The system lacked the functionality of one stop shop for managing all emergency , Crisis and schedule notification

n Lack of data flow/ interfacing between critical business processes and crisis handling. Critical process identification missing due to manual work.

n Incident Management, Emergency Management, Crisis Management was done in Silos without any single interface giving a lack of view to decision makers in case of Crisis Handling.

n No Customized reporting facility for operations, middle and high level management

n Not compliant to NCEMA & ISO 22301 standards

DIB Profileü DIB is a leading Banking organization in the

Escrow domain with biggest clients like EMAAR, Hyati, etc. It is managing its business in a way that creates value for customers, shareholders, employees and the communities in which it operates.

ü Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and the third largest Islamic bank in the world. The Bank currently operates 90 branches across the UAE, is present in seven markets worldwide.

ü Regulation Authorities for reporting, Business Processes and protocols • RERA• RAK• Abu Dhabi

Promart Escrow What did we do?

Challengesn Stability, Usability and acceptability of the current system

n Business Operations was done through excel spreadsheets and manually on files based documentation.

n Lack of automated system to handle Escrow management

n Lack of data flow/ interfacing between critical business processes and bank core systems.

n Hectic data collation for Yearly RERA report generation which regulatory agency.

n Fines imposed by RERA due to manual errors in RERA reports.

n Not compliant to RERA and SAMA standards

Promart Escrow What We did?

Benefitsn Regulatory Compliance achieved through this automation

n Enabled an Executive / Top Management view of the Escrow Management

n Usability and accuracy much better than the legacy/ manual approach. Top Management is confident regarding organizational efficiency.

n Enabled quick and accurate data and information – at an enterprise level

n Automated Escrow processes like Payment, Deposit classification, Beneficiary registration, Retention amount processing,

n Provided visibility of decision-making process

n Enabled real time Payments/Deposits integrated with the Bank core

n Scales well from the smallest to the largest organizations

n Automated Messaging and Email notification for reviewal and approval of different activities.

Automation Platform – Promart Escrow

• End to End Project/Owner/Developer Lifecycle Implementation

• Customer/Counterparty/Developer/Owner information can be set

• Different Fee payments along with Cap locks with direct integration with the bank

• Improved the operational effectiveness and efficiency in addition to increasing the visibility of information to the Bank’s top management to facilitate ongoing event monitoring and decision making.

• Automated the Escrow Operations cycle (Project Onboard, Developer Onboard, Owner onboard, Unit Sales, Unit allocation, Deposit allocation, Automated Fees for different Developer Beneficiaries, Report generation etc.)

• User-friendly interface with all necessary Dashboards and reports

• Effective tracking and resolution

Promart Escrow What did we do?Promart Escrow What We did?

Our CustomersOur Clients

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Promart Escrow ScreenshotsPromart Escrow Screenshots

Thank you