Wealth Management
Cashfac provides a self-service Wealth Management platform for individuals and corporates. For corporates providing wealth services to their clients, the platform enables a fully self-service solution for access to cash funds, savings and investment products, with the bank able to offer this through virtual accounts rather than real bank accounts. The bank’s clients can execute trades directly through their virtual accounts through to settlement by integration with the internal trading desk and 3rd party settlement platform. Client funds in different investment products are fully segregated and clients can make payments directly through Cashfac. Automated receipts allocation routines ensure total costs paid for transactions are correctly apportioned to fees, taxes commissions and settlement accounts. Self-service interest generation and settlement is supported in the platform.
Benefits
- The bank is no longer required to provide ‘000s of real bank accounts to their wealth management customers.
- Highly automated solution for the bank reduces cost to serve.
- Fully automated customer experience with online access.
- Full segregation of client and firm cash with end-to-end reconciliation.
- Full segregation of client cash between different savings and investment products and consideration payments (taxes, fees, etc).
- Tailored account hierarchies and dashboards that align to the client’s operating model and account structures.
