Dime Launches ZSuite to Expand Digital Banking Capabilities for Commercial Escrow Customers

June 12, 2023

HAUPPAUGE, N.Y., June 12, 2023 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ: DCOM), the parent company of Dime Community Bank (the “Bank”), announced today the launch of ZSuite for Commercial Escrow Management.

ZSuite is an entirely digital commercial escrow and subaccounting platform. This platform adds a significant piece to Dime’s technology stack and is designed to improve the customer experience for property managers, law firms, municipalities, title companies and other industries that heavily utilize escrow and subaccounts.

Commenting on the launch of ZSuite, Michael Fegan, Chief Technology and Operations Officer of Dime, said, “We are excited to launch ZSuite today in support of our commercial escrow customers. This reinforces Dime’s continued commitment to provide a top-tier digital experience. Conventional escrow and subaccounting processes are manual and extremely resource-intensive for everyone involved. As such, we partnered with ZSuite to provide our customers a best-in-class digital solution.”

“We are proud to partner with Dime for their new escrow banking solution,” says Nathan Baumeister, CEO and Co-Founder of ZSuite Tech. “We share Dime’s focus on customer service and look forward to working with them closely.”

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.8 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).

Dime Community Bancshares, Inc.
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com

(1) Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets

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Source: Dime Community Bancshares, Inc.