Tamilnad Mercantile Bank (TMB) has partnered with TBX, formerly known as TransBnk, to develop a digital escrow platform aimed at simplifying and automating escrow account management for corporates and institutions.
The platform combines TMB’s banking capabilities with TBX’s transaction banking infrastructure, bringing account opening, transaction processing, fund monitoring, reconciliation, reporting and stakeholder visibility together through a single digital platform.
The partnership is focused on supporting multiple escrow use cases, including Real Estate Regulatory Authority (RERA) accounts, Trust and Retention Accounts (TRA) and other regulated escrow structures. These arrangements can involve multiple stakeholders, transaction rules, approval processes and compliance requirements.
The companies said the platform is designed to provide real-time visibility, automated processing and streamlined reconciliation while reducing manual intervention in escrow management.
“Digital escrow requires more than transaction processing; it requires transparency, governance, automation and the ability to manage diverse use cases at scale,” said Ashok Kumar P R, executive vice president and country head – branch banking, Tamilnad Mercantile Bank. “By combining TMB’s banking capabilities with TBX’s technology infrastructure, we are taking another step towards delivering a more connected and future-ready transaction banking experience.”
TBX’s escrow platform provides centralised management of the escrow lifecycle, including automated fund allocation, transaction monitoring and management information system (MIS) reporting. The platform is designed to support workflows from account setup through settlement.
Vaibhav Tambe, CEO, TBX, said escrow arrangements increasingly require different workflows and compliance mechanisms depending on the use case.
“RERA, TRA and other regulated structures each come with their own stakeholders, workflows and compliance requirements,” Tambe said. “Our partnership with Tamilnad Mercantile Bank brings these complexities onto a unified digital infrastructure, enabling the bank to deliver greater transparency, control and efficiency while creating a more seamless experience for corporate customers.”
The partnership also reflects the broader evolution of corporate transaction banking, with businesses increasingly seeking banking infrastructure that can integrate with their operational systems.
TBX has expanded its focus from transaction banking infrastructure into connected financial workflows for enterprises, banks, NBFCs and fintechs. The company’s platform covers transaction banking, escrow and regulated accounts, cash and treasury management, payments, reconciliation, supply-chain finance and connected banking workflows.
TMB, established in 1921 and headquartered in Thoothukudi, Tamil Nadu, operates more than 600 branches and provides banking services across India.