Products

CashFac is a software and related services business that applies CashFac Virtual Bank Technology® to provide Straight Through Cash Processing® solutions for complex money management. These solutions release substantial benefits for corporate customers in terms of cost savings, compliance with complex regulations, and enhanced client service. At the same time, these solutions release substantial deposit balances balances for our partner banks.

To meet a broad range of customer need and budget, CashFac solutions are available on client-server platforms and hosted service platforms. CashFac solutions are fully multi currency and multi territory.

CashFac delivers its solutions both directly and via partner banks under own-label arrangements. AIB, Barclays, BNP Paribas Securities Services, Lloyds and RBS offer own-labelled CashFac technology to their corporate customers, providing high value, customer-centric virtual banking solutions.

CashFac uses the term virtual bank accounts to help define what CashFac Virtual Bank Technology does. A virtual bank account is not a ledger account. Unlike a ledger account a virtual bank account can make payments and receive money. You can attach CashFac’s virtual bank accounts to the ledger accounts of ERP and accounting systems in which case the virtual bank accounts help to reduce the cost of payments and with allocation and reconciliation at the ledger level because the virtual bank account operates between the ledger and the bank. This is particularly helpful with high volumes of receipts and payments and with centralized/shared operations.

The virtual bank account operates in real time and it is bank connected. Like a bank account the virtual bank account can make payments and receive money. Unlike a bank account the virtual bank account can be opened automatically by the user and in real time and in high volume.

The virtual bank account can be subliminal and operate fully automatically or it can be externalized to empower the end client and supplier. This empowerment includes the ability for a client to pay money directly into his virtual bank account to pay for a service or to pre-fund an investment. It enables a supplier to pull money out that has been allocated in an invoice settlement process or to discount future payments into current payments.

Virtual bank accounts proactively control the bank accounts.

CashFac Virtual Bank Technology® also provides:

• industry-specific, work-flow oriented cash management solutions for pensions & employee benefits, wealth management including stock-broking & investment & financial products, insurance broking & underwriting, law & trust, outsourced business process (BPO), agency banking & correspondent banking, and financial management of supply chains
• an added value bridge across the gap between back office treasury processes and banking networks so that the power of full scope banking technology is fully leveraged in the corporate back office
• a Cash Factory® approach to handling the full cycle of transaction and balance processing including receipt management, Predictive Reconciliation®, automatic client money allocation within an integrated set of bank accounts and virtual bank accounts, and payments
• transparency in the cash process for all counterparties including the payers, payees, clients, trustees, beneficiaries, counterparties, brokers, banks and audit.

CashFac's Marketing Centre is in London, England; the Development Centre is in Livingston, Scotland. CashFac Virtual Bank Technology is distributed in Asia Pacific by CashFac Simbient which is based in Sydney, Australia.

CashFac®, CashFac Virtual Bank Technology®, A2Pay®, Straight Through Cash Processing®, Cash Factory®, tapX® and Predictive Reconciliation® are registered trade-marks of CashFac.