State Governments and Municipalities

Cashfac provides operational cash management services to multiple sub-Federal government bodies globally. The platform is used for a range of use cases, including the management of pension and health benefits for former and current state employees and the distribution of municipality or state funds to citizens for a range of reasons. In the retirement and pensions space, Cashfac provides a platform for the management, payment, and tracking of regular retirement payments to former state employees, all through Cashfac virtual accounts, which means 1000s of real bank accounts are not required. Separately, there are a range of use cases where the State distributes funds to vulnerable citizens for ring-fencing and expenditure on pre-defined spending categories, often overseen by an individual who has power of attorney over those funds. The Cashfac virtual account hierarchy allows specific account types to be set up for certain expenditure types, with payments being made directly from those virtual accounts either through the Cashfac UI or via payment cards attached to the virtual accounts.