FirstService Financial provides FirstService Residential clients with banking solutions to streamline, maximize, and monitor.
Our dedicated, highly-trained in-house team of financial professionals provides a full range of cash management, treasury and investment solutions that help our clients navigate the complex association banking landscape.
Account Onboarding and Maintenance
We assist in opening and administering our clients’ bank accounts to ensure accuracy and eliminate confusion. In compliance with industry regulations, all client funds are maintained in separate accounts using their distinct tax identification numbers. Additionally, we review and monitor all client accounts to ensure operational efficiency with minimal expense.
Resident Payment Solution
We provide our clients with an integrated and enhanced receivables solution that is tailored for the community association industry. Our platform enables residents to pay their regular, special or miscellaneous fees to their community through multiple payment channels when and how they want.
Vendor Payables Solution
Our streamlined payables platform is a fully-integrated accounting system solution that captures vendor invoices, allows for board and property manager invoice approval, and can issue vendor payments.
With billions of dollars in administered funds across North America, FirstService Financial leverages our scale to eliminate unnecessary bank fees while providing increased interest rates. With an integrated approach to long-term reserve fund management, we provide multiple financial products through various banking institutions to ensure that our clients’ liquidity needs are met while maximizing interest yield and principal protection.
We recognize that our clients have a fiduciary responsibility to ensure that their community’s funds are secure. With that in mind, we have partnered with highly-rated banking institutions to provide the peace-of-mind they desire. Through FDIC/CDIC deposit insurance, excess deposit and diversification programs, and quarterly financial reviews of our banking partners, we ensure the safety of our clients’ principal.
In addition to our internal fraud monitoring technology and protocols, our banking partners are at the leading-edge of fraud prevention and detection.