BancBox Releases Industry’s First Escrow Service for Crowdfunding: BancBox Crowd

Eric Carter, April 29th, 2013

BancBoxBancBox, payment services provider, has announced a new service and correlating API: BancBox Crowd. BancBox Crowd consists of the first independent escrow service for debt, equity, and revenue share crowdfunding portals. The service provides an online portal that eliminates the legacy escrow process (e.g. paperwork, waiting, etc.). BancBox CEO, Sanj Goyle, commented:

“We are excited by the potential crowdfunding holds for investors, entrepreneurs and the startup community, and we are proud to be playing a critical role in enabling this industry to blossom….With our deep payments expertise and experience we can help ensure this happens securely and in full compliance with all regulations.”

BancBox has built almost a decade of experience in the complicated, and highly regulated, payment solutions space. It continues to release innovative, online services and platforms that remain in compliance with securities and banking regulations. BancBox is pleased to announce strategic crowdfunding partners for its BancBox Crowd release (i.e. 99Funding, SoMoLend, and Localstake). One pleased customer that utilizes the 99Funding/BancBox partnership commented:

“The services provided by BancBox crowd have been instrumental in developing a seamless investment platform for our clients….“The BancBox team has provided extensive support and their industry experience gives us and our clients security and confidence as we develop this new investment market.”

The BancBox Crowd API uses REST protocol. Users can create escrows dynamically with a single request. Status and monitoring can be tracked via the online portal or via API calls. Investor and user information is updated in real-time. For more information, visit the API site or request more information.

Traditional paper trails and cumbersome back and forth between banks and account holders are a dying breed. Even in one of the most regulated industries on the planet, users expect seamless application, approval, and funding from financial institutions. BancBox continues to fuel this disruption and BancBox Crown constitutes the latest arrow in BancBox’s quiver.

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