Cashfac Drives High Volume, High Value Deposits from Escrow Clients

Cashfac enables banks to secure new escrow clients, enhance client retention, and deliver a competitive banking service.

Key Priorities for Banks

  • Fully automated cash operating model enabled by integration with the internal attorney admin systems
  • Tailored interest calculations that meet client and regulatory needs
  • Operational bespoke client hierarchies that align to the attorney, matter, and account needs, with unlimited hierarchy levels
  • Full client cash segregation and automated interest sweep to state bodies

Digital Cash & Banking Platform

Cashfac Helps Banks Win New Business and Retain Existing Customers

Digital cash and banking platform that transforms corporate and commercial bank service offerings, driving multi-million dollar increases in client deposits and strengthening client relationships.

Cashfac’s digital cash and banking platform transforms the operational cash management of banks and their clients. It reduces operational demand as clients can open an escrow account within seconds and manage the cash movement of those accounts. Our platform supports the needs of escrow agents, attorney trust accounts and qualified intermediaries.

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Cashfac Helps Banks Win New Business and Retain Existing Customers

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For general inquiries or to learn more about our platform and services, fill out the form, and a member of the Cashfac team will be in touch.

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Key Escrow requirements

IOLTAS

Attorney Self-Service

Automated 1031 account

IOLTAS

IOLTAS boosts a bank’s reputation and can make it more attractive to prospective clients. Cashfac delivers an automated IOLTA capability to calculate and segregate interest and automatically pay to the IOLTA state association. Attorneys can separate the pooled client funds in their IOLTA account with self-service digital cash accounts. Automation of compliance Control of client money movements Reduce administration time and costs Visibility of all balances and transactions.

  • Automation of compliance
  • Control of client money movements
  • Reduce administration time and costs
  • Visibility of all balances and transactions

Attorney Self-Service

Attorney self-service escrow accounts maintain transparency and secure financial transactions between attorney and their clients. Cashfac’s platform configurations support attorney self-service accounts, which helps banks offer a more tailored service to their attorney clients and their end clients.

  • Attorneys can apply their interest rate to earn an interest margin
  • Segregate interest earned and disbursement
  • Automated tax deductions are separately segregated
  • Automate record keeping and compliance-double-entry ledger and audit trail.
  • Avoid co-mingling of funds, but easily draw down retainer

Automated 1031 account

Automated 1031 accounts simplify and expedite the 1031 exchanges process in real estate transactions. Cashfac’s escrow module provides automated 1031 accounts for qualified intermediary clients, reducing administrative burden and ensuring compliance.

  • Self-service interest splits
  • Quick release of funds to the client to ensure exchange happens tin a 180 day period
  • Automate document and record-keeping
  • Separate tax account and transaction types to automatically deduct tax

 

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Get In Touch

For general inquiries or to learn more about our platform and services, fill out the form, and a member of the Cashfac team will be in touch.