“Bank will offer Cashfac ‘powered’ services including account opening, end-to-end allocation and reconciliation of client monies and Client Money segregation.”
Cashfac Technologies, a global leader in Cash Management solutions, today announced that it has signed one of the UK’s newest banks as its latest banking partner. The new partner bank will utilise Cashfac’s technology to provide end-to-end cash management solutions across its corporate client base and facilitate multiple money management processes including account opening, availability of automated allocation and reconciliation of monies, receipt management and the segregation and protection of client money.
Cashfac’s solutions provide a real time, granular approach for Corporates to better control cash across their enterprise. They fully automate the management and control of payments, receipts and reconciliations to reduce corporate institutions reliance on manual processes and provide real time visibility across the entire lifecycle of a payment. Where organisations are responsible for managing Client Money and complying with client money regulation Cashfac enables complete control over the entire client money lifecycle. All client money movements are identified, automatically segregated and allocated to provide unparalleled control and protection.
Alastair McGill, Managing Director, Global Business, Cashfac, said: “We’re delighted to be working with one of the UK’s newest banking institutions to help provide cross-sector cash management services to their corporate client base. This further exemplifies the confidence that leading banks have in Cashfac’s solutions and adds to the growing portfolio of banking partners that Cashfac has in Europe and throughout the rest of the world. Cashfac prides itself on providing solutions that not only allow firms to reduce the footprint of their manual operations but ultimately saves them time and money as well as reducing their risk.”