Use virtual accounts to automate simple or complex sweeping requirements
For years, businesses and banks have faced the challenge of moving money between accounts to optimize liquidity, ensure availability, and maximize returns. This often involved manually managing imprest (top-up) accounts to position funds logically or transferring balances to third parties when targets were met. Historically, automating these processes required either manual intervention or powerful mainframe systems to handle even basic sweeping tasks.
Our virtual accounts platform delivers these capabilities as standard functionality. It enables businesses to automate the allocation of receipts and trigger actions based on those receipts. The platform splits incoming credits, forwarding them to third parties or internal accounts based on payment narratives or credit value. It also monitors balances, achieving target levels and executing actions aligned with the customer’s risk profile. When a credit meets its target balance, the platform can automatically defund or “sweep” a virtual account, ensuring seamless liquidity management.
For more information, contact the team to discuss your requirements or request a demonstration.
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