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Legal Services

The Cashfac solution for Lawyers and Attorneys provides a fully automated self-service platform for lawyers and their clients. The solution allows lawyers and their clients to open and close sub-accounts themselves, make payments directly from their virtual account, and receive funds into their virtual and real DDA bank accounts on Cashfac. Lawyers are able to “self-service” for interest, apportioning the interest that they receive from their bank across their client base as they wish. The solution supports 1031 and ILOA/IOLTA accounts, including the segregation and settlement of interest and withholding tax required under state regulations and required regulatory reporting.

Benefits 

  • Self-service, fully digital user experience for lawyers and their clients. 
  • Fully scalable solution for banks based on automation foundations. 
  • Tailored account hierarchy for each law firm.
  • Automated receipts allocation from the master account. 
  • Online statements and dashboards are fully branded for the bank.
  • Automated reconciliations and controls reduce manual effort for the client and bank.
  • Platform access permissions tailored for bank users, the bank’s client, and the client’s client. 

Download full case study.

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