Assurant and Deposify Partner in Security Deposit Platform for Property Managers

Assurant (NYSE:AIZ), a home and product insurance company announced that it is partnering with European-based fintech company, Deposify. The companies are developing a security deposit platform for property managers that can help mitigate and manage security deposits for multifamily properties within each given state.

As quoted in the press release:

“Managing traditional cash security deposits is an incredibly inefficient process that places considerable burdens on landlords, property managers, brokers and tenants,” said Steve Hein, senior vice president of Multifamily Housing at Assurant. “Our partnership with Deposify will help drive time and cost savings for property managers by using Deposify’s innovative technology solution.”

Hein added that the partnership with Deposify positions Assurant as the only provider to offer a total deposit solution for property managers. “We now can provide property management companies with a comprehensive solution to help reduce the administrative hassle of managing traditional deposits, along with deposit alternatives that give prospective tenants options at move in. This offering enables us to meet the different needs of multifamily property managers and owners,” he said.

Click here to read the full press release.