Avoid a Tactical Trap: Why Buying a One-Industry Banking Solution Will Cost You

Banks under pressure to meet immediate customer demands often deploy point solutions that are tactical, niche fixes, designed for a single sector.  

These short-term decisions have long-term consequences.  

Why? Because as your bank expands into new markets, those same tactical solutions quickly become blockers. They can’t scale, adapt or support the needs of other verticals – meaning another round of procurement to source a new vendor (costly, slow) or operate with a sub-par solution.  

Either way, growth stalls and customer satisfaction drops.  

In many cases, the bank ends up needing a new solution in just 12–18 months – an expensive and time-consuming cycle that most institutions can’t afford to repeat. And often, they don’t.  

That leaves future business areas stuck with a solution not built for their needs. 

Some buyers hesitate to invest in a multi-vertical solution, asking: “Why buy for sectors we don’t serve yet?” But not planning for future growth means limiting it. 

Cashfac changes that.

Our platform is built from the ground up to support 16 specialized industries – from legal and healthcare to real estate and digital assets – all from one scalable, self-service VAM solution.

Buy once. Scale everywhere.

Instead of re-buying a new solution every time your bank enters a new sector, Cashfac lets you configure tailored banking journeys for each industry, without starting from scratch.

Once your clients are embedded into a bespoke, user-friendly platform, switching becomes harder. Deposits grow. And customers don’t leave.

Why is this relevant for banks now?

As technology advances, so do customer expectations. Today’s clients want personalized, easy-to-navigate banking solutions tailored to their specific needs. 

With Cashfac, banks provide specialized solutions to specialized markets, enhance customer satisfaction, and strengthen relationships – all while scaling efficiently. Our VAM solution enables banks to meet client needs more effectively and differentiate themselves from competitors.  

Whether you’re targeting legal firms, healthcare providers, or digital asset managers, our VAM solution allows you the flexibility to deliver industry-specific banking journeys – all within one solution. 

Once clients are immersed in a bank’s eco-system, those customized user journeys are difficult to replicate by a competitor. Stickiness becomes a strategic advantage. 

Competition for deposits is increasing. Banks providing tailored banking solutions will be better placed to attract more customers, more deposits, and more loyalty. 

What are the 16 verticals?

Cashfac’s VAM solution has been designed to support a wide range of industries. Our 16 verticals represent some of the most high-valued sectors, each with their own tailored user journeys and account structures – all on a single customer self-service platform.

16 Industries, One Strategic Solution 

Explore Some of the Industries We Serve

Legal Services

Cashfac’s solution for legal firms offers a fully automated, self-service platform designed for both lawyers and their clients. It enables users to independently open and close sub-accounts, initiate payments directly from their virtual account, and receive funds into their virtual and real DDA bank accounts. 

Lawyers can easily manage interest, distributing earned interest across their client base according to their preferences. It supports 1031 and IOLA/IOLTA accounts, including the segregation and settlement of interest, withholding tax, and required regulatory reporting required under state regulations. Clients can send their pre-populated 1099 template directly to the IRS.

Operations teams can leverage dashboards to manage daily workflows, including tracking outstanding payments and account authorizations, new account setup, and reviewing the automatic allocation of funds from real to virtual accounts. Managers gain visibility into interest earned across accounts and can drill down into client balances, with export options for streamlined reporting.

Read more about how the solution supports legal services. 

Real Estate

Cashfac’s Real Estate solution supports full segregation of firm and client funds in line with industry regulations and meets the needs of real estate professionals.  

Firms can build account hierarchies that reflect their operational needs – for example by block, tenant, rent, service charge, or security deposit. Real estate professionals can now use interactive dashboards to visualize account hierarchies – aggregating balances at any level, from tenant to company-wide – with export options available. These dashboards also flag missed payments, such as rent, and provide forecasts of account balances over time. 

Client funds are automatically allocated from the bank account to the appropriate virtual account, all fully reconciled. Recurring payments and sweeps can be set up at the virtual account level.   

Self-service interest management allows firms to apportion interest across their client base, segregate interest and automatically pay to 3rd parties such as the state Bar.  

Accounts can be opened manually, in bulk, or real-time through API integration with client operational systems. 

Clients can send their pre-populated 1099 template directly to the IRS. 

Read more about how our solution supports real estate. 

Healthcare

Cashfac’s solution for healthcare supports a wide range of use cases across healthcare services. It enables providers managing injury claims or insurance-related cash flows to streamline operations using a mix of virtual and real bank accounts.  

In injury claims, for example, the platform handles high volumes of payments to injury claimants by maintaining separate virtual accounts for each individual claim. These deployments are typically fully automated end-to-end, integrating with the provider’s operational systems and reconciling directly with the bank.  

Cashfac’s suite of APIs and Kafka Event Streaming can be used to extract customized data requirements for the client. 

Where required, a self-service model allows claimants to access their accounts and make payments to third parties such as care home or medical providers. 

The full impact is that the healthcare provider becomes fully integrated into the bank’s ecosystem.

The platform also supports customizable dashboards tailored to the needs of healthcare providers and their operational workflows.

Read more about how our solution supports healthcare. 

Offer your clients a personalized solution 

Get in touch to see how our platform can support your industry-specific growth strategy.