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/
Avenu Insights & Analytics (Avenu), the leading provider of revenue recovery and administration solutions for state and local governments, is proud to announce its partnership with the League of Oregon Cities (LOC). As part of this collaboration, Avenu will offer its expertise in various subjects to cities across Oregon, helping them maximize revenue, maintain compliance, and improve their operations.
With Avenu’s vast experience in serving cities of all sizes across the country, they are well-positioned to provide some dedicated webinars as well as subject matter expertise on a range of critical issues. Among the topics that Avenu will cover as part of its partnership with the League of Oregon Cities are short-term rental compliance and administration, compliance auditing, tax administration, transient occupancy tax, digitizing documents, and cybersecurity.
“Through this exciting partnership, the LOC’s 241 member cities will have access to Avenu’s extensive experience and proven success in finding cost-effective solutions for local governments,” said LOC Executive Director Patty Mulvihill. “Avenu clearly has the capabilities to provide high-impact resources to cities of diverse size throughout Oregon.”
In addition to dedicated webinars, Avenu will also invite cities to participate in national events, with the first being a National Economic Forecast in partnership with the UCLA Anderson Forecast. By providing cities with access to these events, Avenu hopes to help them stay up-to-date on the latest trends and best practices in their field, ultimately helping them provide better services to their communities.
“We are excited to partner with the League of Oregon Cities and offer our expertise to cities across the state,” said Paul Colangelo, Avenu’s CEO. “Our team is dedicated to helping local governments succeed, and we look forward to working with city officials and staff to tackle the challenges they face.”
The partnership between Avenu and the League of Oregon Cities is a testament to the importance of collaboration and knowledge sharing among local government organizations. By working together, Avenu and the LOC hope to help cities across Oregon thrive and provide their residents with the best possible services.
League of Oregon Cities
Founded in 1925, the League of Oregon Cities (LOC) is a voluntary association representing all 241 of Oregon’s incorporated cities. The LOC helps city governments serve their citizens by providing legislative advocacy services, policy consultation, intergovernmental relations assistance, networking and training, technical assistance, and publications.
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/
CENTREVILLE, VA. (PRWEB) – Avenu Insights & Analytics (Avenu), the nation’s leader in unclaimed property solutions, proudly announces the addition of cryptocurrency custody to its Unclaimed Property Solutions Portfolio. The new secure platform will receive in, deliver out, liquidate, purchase, and hold the most widely-used and popular types of cryptocurrency.
This is a result of a recently established relationship between Avenu and Gemini, one of the most trusted firms in the industry. Gemini is a licensed digital asset exchange and custodian that is owned and operated by Gemini Trust Company LLC, a New York trust company. Gemini is subject to comprehensive regulations under several federal and state laws, including those pertaining to unclaimed property and escheatment.
Trusted by more states than any other unclaimed securities custody provider, Avenu provides state administrators with a suite of comprehensive and cost-effective tools to manage all facets of their unclaimed property management. With a reputation built on over 35 years of experience, Avenu manages over $2 billion in unclaimed securities.
“Partnering with Gemini was a natural step for us to take,” shared Paul Colangelo, Avenu CEO. “As a leader in the industry, our clients expect us to stay at the forefront of trends so that we can deliver relevant solutions that they need from us today. Now our state clients can add cryptocurrency to their unclaimed property portfolio in a simple and secure way.” Avenu, in fact, is the first company in the United States to offer cryptocurrency as part of its portfolio to state clients.
About Gemini Trust Company, LLC
Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store more than 20 cryptocurrencies like Bitcoin, Bitcoin Cash, Ether, Litecoin, and Zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services and the New York Banking Law. Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss to empower the individual through cryptocurrency. To learn more, visit gemini.com.
About Avenu Insights & Analytics
As a leading provider in state and local government solutions, Avenu has partnered with over 3,000 state and local governments to boost revenue, optimize operations, and reduce costs. Avenu provides revenue enhancement and administrative solutions that uncover new sources of untapped revenue and deliver software that streamlines day-to-day operations. State and local governments partner 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.
Trusted by more states than any other system, Avenu’s Unclaimed Property Solutions provides administrators with a suite of comprehensive tools to unite owners to unclaimed property they didn’t know they were missing. We were happy to learn about the success that Arizona’s program is having and their recent campaign to unite military personnel to their unclaimed property.
Every year, the Arizona Department of Revenue’s (ADOR’s) Unclaimed Property program returns millions of dollars to claimants, including $42.5 million in 2019-2020. This year, right in time for Veteran’s Day, ADOR started a campaign to search for 14,000 military personnel and unite them to properties that total $7 million.
Much of this property belongs to military who were not permanent residents of Arizona but temporarily stationed at a military base. The agency has identified more than 14,000 military personnel with last known Arizona addresses from several military locations including; Camp Navajo Army Base, Fort Huachuca Army Base, Luke Air Force Base, Tucson’s Davis-Monthan Air Force Base, Yuma Proving Ground Army Base, and Marine Corps Air Station (MCAS) Yuma.
Some dating back over 30 years, these properties total $7 million, with the largest property due to a single owner totaling $136,217
Currently, military members with large properties will receive a notice with the goal being that the property owner or family member will contact ADOR’s Unclaimed Property Unit.
Unclaimed property generally consists of money due to an individual from sources like old bank accounts, uncashed payroll checks, tax refunds, credit balances, rebates, returned deposits, and dormant safe deposit boxes. Often, the company holding the funds has an outdated or the wrong forwarding address for the customer, and in some cases, a person passes away with no family members aware of the assets. Most accounts are turned over to the state after several years of inactivity.
ADOR returns the property to owners who provide documentation showing their right to claim the assets. Claimants must include a valid photo ID and documentation linking them to the owner’s last known address with their ADOR Claim Form. Claimants must also provide documentation demonstrating a legal right to claim any property listed in another name.
In the past three fiscal years, ADOR returned roughly $155 million to individuals and businesses.
Learn more about how Avenu’s Unclaimed Property Solutions can help state’s administer programs, and how U.S. citizens can find out if they are Missing Money.
We are pleased to announce that former West Virginia Deputy State Treasurer, Carolyn C. Atkinson, Esquire, is joining Avenu Insights & Analytics as the new Director of Unclaimed Property Systems and Support. In this role, Carolyn will lead the team as it leverages strong Avenu backing for the unclaimed property business and the support it provides to many state unclaimed property program administrators.
Carolyn is a widely respected expert in state unclaimed property program administration and brings a wealth of experience in this arena. Formerly, she was the President of the National Association of Unclaimed Property Administrators (NAUPA), and a recipient of the distinguished NAUPA Lifetime Achievement Award. She also chaired NAUPA’s Committee for Revision of the Uniform Unclaimed Property Act and served as NAUPA’s co-adviser to the Uniform Law Commission. Professionally, she served in a number of roles including: West Virginia Deputy Treasurer for Unclaimed Property, Assistant General Counsel for WV State Treasurer Office, and a lawyer in private practice.
Please feel free to reach out to Carolyn directly via email and she will be happy to answer any questions you might have.
Learn more about our unclaimed property management solutions, the proven method for managing state unclaimed property programs.