Myth Busting Banks’ Challenges When Launching a Cash Management Solution
This blog explores the challenges when launching a Cash Management Solution
After speaking with dozens of banks to understand their perceived challenges associated with launching competitive, innovative cash management solutions including escrow services, we are now busting their long-held myths wide open.
These myths include:
- launching solutions for commercial customers will take 12-18 months at a minimum
- preparing to go to market is extremely resource intensive
- custom development is always required
How are we busting these myths?
- By partnering with banks to deliver targeted services, such as Escrow Accounts.
- By advancing from kick-off to production within 6 months.
- By offering a solution that has no impact on core banking systems.
- By delivering a solution that was already designed specifically for your commercial customers, eliminating the need for custom development.
The journey to a 6-month rollout is achieved with focused workshops delivered by Cashfac for your Product, Technical and Sales teams. By starting with industry best practice configurations and Cashfac’s light touch integration approach removes the need for changes to core banking platforms.
Cashfac’s solution, such as its Escrow Account Service, provides more than self-service for your commercial customers. Our straight-through processing with integrated solution capabilities, same-day customer onboarding, and streamlined customer payments are just a few of the other features that your commercial customers will benefit from.
If you’re interested in offering an enhanced cash management solution to your commercial customers within 6 months, with minimal bank resource requirements and no custom development requirements, contact us.