Cashfac Enhances Cloud Offering With New Suite of Applications

Solutions offer clients faster deployment, greater cost efficiencies and instant benefit

Cashfac Technologies, a global leader in Cash Management solutions, today announced the launch of a suite of cloud applications aimed to transform the management of cash for any business. The best-practice cloud applications are designed with usability geared towards specific industry segments or business functions and have pre-configured, highly defined functionality to enable rapid deployment and faster client benefit.

Available across a range of industry segments including insolvency, insurance, legal, local government, property and pensions, Cashfac’s cloud applications provide a single, real-time view and management of cash flows across multiple bank and client account infrastructures while reducing firms reliance on complex, costly and manually intensive processes. Cashfac’s cloud environment also removes the requirement for users to commission their own infrastructure and thereby supports the rapid on-boarding of solutions and applications.

Cashfac’s cloud applications are underpinned with Cashfac’s smart virtualization technology enabling client bank accounts to be instantly created so that payments, allocations and receipts can be automated and managed right away. Unlimited numbers of real and virtual bank accounts can be consolidated within the applications into a single view to simplify operational processes and reduce the reliance on manually intensive and spreadsheet based processes which are unreliable and at risk of errors.

With pre-packaged intelligent bank drivers and SWIFT connectivity Cashfac’s cloud applications provide connectivity to banks while batch or API connectivity provides simple integration with client-side systems and primary ERP and Accounting systems.  The applications provide firms with real time account information and a continuous 7+ year audit trail of account actions, transactions, authorizations and rejections, and user actions. They also provide continuous reconciled views of client cash and internal ledger systems to demonstrate necessary segregation of client money and clear records of all transactions and the associated audit trail, in line with client money regulations including CASS 5 and CASS 7 rules.

Commenting on the news, Alastair McGill, Managing Director, Global Business, Cashfac, said: “Cashfac has a long track record in delivering successful, quality assured cloud implementations for its clients. This new suite of cloud applications will further remove many of the traditional software implementation barriers that firms face and accelerate integration with both bank and client side systems. The elimination of individual client configuration, allows for rapid, cost effective on-boarding and instant benefit to Cashfac’s clients.”

Cashfac’s Cloud environment is a fully managed private cloud, monitored 24x7x365, and offers 99.95% availability on an active/active dual site production and full disaster recovery environment that’s hosted within secure data centres with vaulted back-up. It is ISO 27001 (Information Security Management standard) certified to protect against threats to Information Security. It is also audited annually against SSAE 16 (formerly SAS 70 Type II) and certified as a Cisco MSCP.

You might also like

Healthcare Share: the evolving market with an identity crisis
News & Blog

Healthcare Share: the evolving market with an identity crisis

Our latest blog looks at how firms in the evolving US healthcare share market can ease their growing pains, differentiation and regulatory challenges

Read more

On-Demand Webinar: Open Banking – Wait and See or Be a First Mover
Videos

On-Demand Webinar: Open Banking – Wait and See or Be a First Mover

In this webinar we explored the opportunities and risks of Open Banking for the Wealth and Investment industry

Read more

The Most Advanced Cash Management Platform for Superannuation Providers
Solution Literature

The Most Advanced Cash Management Platform for Superannuation Providers

This paper explores how our cash management platform helps Australian superannuation providers capture the next generation of retirees and maintain existing member engagement

Read more