Avenu Launches Cloud-Based Unclaimed Property Management Solution – Avenu | Connect

Avenu Insights & Analytics (Avenu) is pleased to announce the nationwide launch of its latest Unclaimed Property solution, Avenu | Connect, designed specifically for State governments. This state-of-the-art SaaS solution integrates over 15 important applications used by State Unclaimed Property offices into a single, secure, and comprehensive platform.

Avenu | Connect is a cloud-based solution that offers real-time holder report validation, secure online payments, strong anti-fraud features, and 24/7 mobile access for constituents. It also anticipates the NAUPA III changes later this year. The new system facilitates instant and automated holder report corrections, eliminates bad data entries, and significantly reduces the need for state staff to scrub thousands of annual holder reports. The platform also supports low-cost Automated Clearing House (ACH) payments to rightful owners.

One of the key advantages of Avenu | Connect is its ease of implementation and intuitive design. Built on a clean, stable, and low-maintenance ASP.net technology, the platform offers a wide range of configuration options that can meet specific state program requirements. It also provides high-level security features, including LexisNexis ThreatMetrix enhancements.

With over 40 years of experience in the unclaimed property industry, Avenu has a keen understanding of what state officials are seeking when developing new software. The company is one of the most trusted and innovative resources in the industry managing over 64,000 security positions and $5.2 billion in state-held unclaimed securities. To date, they are the only company offering a crypto-custody solution to state unclaimed property programs.

“We’re proud to offer Avenu | Connect as a cutting-edge SaaS solution that simplifies processes, saves time and money, and enhances compliance,” said Paul Colangelo, Avenu CEO.” This new innovative software showcases our commitment to providing best-in-class solutions for State Unclaimed Property offices, ultimately streamlining processes, and reducing costs while maximizing compliance and minimizing risks.”

About Avenu Insights & Analytics:

Over 3,500 state and local governments have partnered with Avenu to drive positive results for their communities through software administration and revenue recovery solutions. Avenu’s comprehensive software solutions digitally transform government by modernizing processes, providing online access to records, and reducing costs. Avenu also provides a robust ecosystem of revenue management services that identify and recover untapped revenue. State and local governments work closely with Avenu to increase revenue without raising taxes, streamline internal operations, and improve services by enhancing connectivity for constituents. Avenu is a portfolio company of Mill Point Capital.

To learn more, visit https://www.avenuinsights.com/

About Mill Point Capital:

Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the business services, technology and industrials sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY.

For more information, please visit https://www.millpoint.com/

Originally published on Send2Press


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Finance

Monday, January 29, 2024 - 11:03

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