The expanded letter of credit offering helps eligible property operators streamline security arrangements and gives renters more move-in flexibility.
NEW YORK, Sept. 28, 2026 /PRNewswire/ — Obligo, the fintech company focused on modernizing residential security solutions, today announced an expansion of its Letter of Credit program for participating property operators. The program uses bank-issued letters of credit as a form of financial protection for property managers, while enabling renters to move in with more flexibility and without tying up significant funds upfront. HSBC Bank USA, N.A. has now been engaged as a Letter of Credit provider under the program supporting Obligo’s platform.
For property operators, Obligo is designed to streamline processes associated with residential security by replacing manual deposit workflows with a structured, digital experience. Property teams can manage renter communications and charge submissions through a single embedded workflow, reducing manual tracking and operational burden. For renters, Obligo offers a streamlined experience from move-in through move-out, with a trusted third party facilitating communications, charges and electronic refunds in line with the selected plan terms, creating a clearer and more transparent process. Obligo supports property operators through integrations with property management platforms, including Yardi, RealPage, AppFolio and Buildium.
“Security deposits have long created unnecessary friction for renters and operational complexity for property managers,” said Roey Dor, CEO and co-founder of Obligo. “Our collaboration with HSBC is an important step in Obligo’s evolution from a deposit alternative into a full operating system for residential security. By combining proven financial instruments with embedded rental technology, we’re helping property managers outsource deposit handling from move-in to move-out while giving renters more flexibility, transparency, and trust.”
“We’re glad to support our clients with banking tools that fit how their business operates,” said Melissa Stepanis, Head of Technology Banking, HSBC Innovation Banking. “This collaboration reflects HSBC’s commitment to working with technology-driven companies that are using established financial products to address current real-world business and consumer needs.”
To learn more about Obligo’s residential security solutions, visit: obligo.com.
About Obligo
Obligo is the modern standard for security deposits, replacing upfront cash deposits with a guaranteed payment method on file. Embedded directly into leading property management software such as Yardi, RealPage, AppFolio and Buildium, Obligo streamlines move-in and move-out, lowers administrative burden, and gives renters more flexibility while keeping properties protected. Founded in 2018 by brothers Roey Dor and Omri Dor, Obligo has evolved from a security deposit alternative into an end-to-end deposit operating system. Built on years of execution and transaction data across renters, properties, and property management platforms, Obligo combines fully integrated workflows, proprietary rental transaction data, and purpose-built AI that supports fair, transparent, and scalable deposit resolution. The company is already trusted in over 1 million homes across the U.S.
Obligo Media Contact
Gabby Hayes
gabby.hayes@myobligo.com
8284584332
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SOURCE Obligo
