3rd Quarter Results, 2012
Cashfac PLC’s growth continues at a fast pace with Q3 revenues increasing 41% over 2011. Sales activity is high and fees from implementation for new customers are up 38%. Profit for the year to date is more than double last year and cash generation is at record levels.
Cashfac has been selected to deliver a large scale cash management solution for international settlement in the insurance market.
Chief Executive Paul Ormrod comments: “The real time functional depth of new generation Cashfac Virtual Bank Technology® is a game changer. We pioneered the first virtual bank accounts solution back in the 1990s. Four generations of continuous investment on, this latest technology includes trading community and exchange based settlement, cash flow enhancement for suppliers, Cashfac’s Fixed Term Deposit Manager with Basel III optimization, and dashboards for real time monitoring of compliance with client money regulations.”