Unclaimed Property Compliance System® (UPCS) from Trintech will allow you to automate the escheatment process from start to finish, saving time and eliminating errors, noncompliance, and opportunities for fraud.
Keeping track of current unclaimed property laws and regulations across all applicable jurisdictions is a challenge because these laws change constantly. UPCS can help you stay compliant with each one, automate the process of generating search letters, produce reports, maintain security controls – all while saving you tons of time and effort.
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The escheatment process involves four key functions:
1. Due diligence
Trintech’s UPCS is a full-function unclaimed property compliance system that automates and addresses each of these four areas in a single solution. UPCS is easy to use, offers menus that are simple to navigate and provides wizards that guide users through the entire escheatment process.
By automatically applying the applicable rules for each state and territory, the amount of work required to initiate, track, and complete all requirements for unclaimed property due diligence is greatly minimized.
Our in-house compliance specialists continuously monitor for regulatory changes and update UPCS to ensure it is up-to-date on every requirement for all 54 jurisdictions.
UPCS automatically creates all the required reports for the 50 states, District of Columbia and U.S. territories using the property records in the UPCS system. The comprehensive reports for each jurisdiction are fully compliant with pertinent laws and regulations.
The financial value of unclaimed property, both in the actual property itself and the potential for issues in the event of an audit, can amount to thousands, even millions, of dollars. We can help you secure your data and prevent financial loss via user-level security options, Windows authentication, database-level encryption, encrypted configuration files, and TLS/SSL encrypted network communications.