ZSuite Technologies' Remarkable 2023 Journey Defined by Substantial Growth

Press Release from ZSuite Tech

WESTWOOD, Mass., Jan. 11, 2024 /PRNewswire/ -- ZSuite Technologies, Inc. (ZSuite Tech) a prominent player in Digital Escrow within the commercial banking industry, reports a stellar performance in 2023, marked by steady growth and significant achievements.

In terms of market reach, ZSuite Tech successfully closed deals with 39 banks, nearly doubling the size of their partner network, and ended the year with 84 banks in their partner network. The year-over-year sales growth of 220% underscores the industry's recognition of ZSuite Tech's value proposition and reliability.

In response to market demands, ZSuite Tech efficiently launched ZEscrow at 38 financial institutions in 2023, with an average time from kickoff to launch of 120 days. The company's ability to bring solutions to market swiftly positions it as a responsive and agile partner for financial institutions. These 38 institutions have a combined asset value of $324B.  

Additionally, the company generated 122% growth in recurring revenue in 2023, demonstrating a commitment to financial sustainability and resilience in a competitive market.

Customer satisfaction remains a focal point for ZSuite Tech, as evidenced by the perfect Net Promoter Score (NPS) of 100 for ZEscrow. This exceptional rating reflects the satisfaction and trust clients place in the company's products.

ZSuite Tech also experienced substantial user base growth, expanding service within their client base from under 1,000 to over 4,000 commercial organizations. This development underscores the company's ability to cater to a diverse range of financial institutions and adapt to evolving industry needs.

In a financial milestone, ZSuite Tech more than doubled the amount of money tracked on the platform, concluding the year with $950 million in deposits. This achievement reflects the growing reliance on ZSuite's solutions for managing and tracking deposits.

As ZSuite Tech reflects on the achievements of 2023, the company remains committed to client success and providing innovative commercial banking solutions.

About ZSuite Tech:

ZSuite Tech is a financial technology company that equips banks with digital escrow and subaccounts to attract clients in specific commercial verticals. Banks partner with ZSuite to gain low-cost core deposits, operate more efficiently, and expand their commercial portfolios.

To learn more about ZSuite Tech and how it can help your financial institution, please visit: https://www.zsuitetech.com.

Cision View original content:https://www.prnewswire.com/news-releases/zsuite-technologies-remarkable-2023-journey-defined-by-substantial-growth-302032114.html

SOURCE ZSuite Technologies

Companies Mentioned in this Press Release:
Business Categories Mentioned in this Press Release: