Products

CashFac products include CashFac Virtual Bank Technology®, A2Pay, A2Receive and tapX®. CashFac also provides faster payment solutions in complex settlement business.

CashFac products are available in deployed, locally installed versions and in a hosted / shared version. All versions are available from CashFac directly and from CashFac partner banks.

CashFac Virtual Bank Technology® (VBT) is...

• the leading software technology that connects with banks and manages all the flows and balances of client money and sub account balances,
• that virtualizes bank accounts and clearing to eliminate costs and clearing delays for all partners,
• that establishes a collaborative, integrated data and payment platform for partners and counterparties for shared STP.

Illustrative uses of CashFac VBT include...

• a property manager who must collect rents from many tenants, manage the service charge balances, pay the suppliers of services to all the properties that he manages, account to the owner for all money movements, and pay the net rent to the owner along with interest on money held subject to the agreement between them;
• an employee benefits manager who must receive aggregate contributions and deductions from an employer, disaggregate that payment and attribute the underlying contributions to schemes and individuals, claim and repay tax credits, maintain balances to fund repayments, return of contributions etc, transfer investable money to fund managers and payments of benefits to clients.

These businesses have complex flows to and from customers, counterparties and suppliers, high value deposit management including interest accrual, reconciliation and compliance with client money regulations, and payments to clients.

CashFac VBT handles all the receipts, payments and balances as a Cash Factory® in close connection with one or multiple banks.

A2Pay®

A2Pay® is a SAAS product that can operate in connection with an external VBT user or in isolation. A2Pay® is the first in a series of collaborative platform products for use by a chain of product suppliers, service suppliers and customers.

Generically A2Pay® is a secure, configurable spreadsheet with integrated payment offered on a collaborative platform. The first application is for employers to compile contributions and make aggregate payments, and for the administrator to download data and disassemble payments.

To read more about A2Pay®, visit our A2Pay® web page.

A2Receive (A2R)

Fund manager VBT account browser with ISO20022 compatible data downloads for stp in settlement.

Software As A Service (SAAS)

CashFac operates managed services for customers and bank partners. The SAAS enables fast delivery. CashFac’s Managed Service provides a full technical operation of both dedicated and shared CashFac system operation in high volume and resilient operation.

Service Oriented Architecture

CashFac Virtual Bank Technology® has a Service Oriented Architecture (SOA):

• Reusable core processes, deployable in multiple industry applications and in multiple forms including local installation and shared / hosted operation and with optional bank drivers for connection of the core processes to different banks;
• A metadata layer that defines client, account and transaction data, and user groups;
• Definable and replaceable user experience layer;
• Multiple server platform including web servers, application servers and database servers, with clustered database server options and load balanced web servers for high end usage
• Report writer for user defined, context-driven reporting
• Connections for external systems including systems that feed into CashFac systems and systems that use data from CashFac systems.

The operating architecture is Microsoft.Net.

Optional modules include Client Access Module (CAM), the Documentary Evidence Module (DEM) for attaching scanned images to transactions, and the Data Mine Module (DMM).

The GUI is separate from the business logic and the use of changeable labels, headings, help content and language enables fast delivery of industry and customer-specific browsers. The CashFac Browser is a configurable user experience for professional operations by staff. It includes Advanced Transaction Matching & Allocation (ATMA).

All configurations of VBT combine money movement with accounting in a single step. Connectivity for other business and accounting systems is standard with bulk loading from connecting systems. There is a choice of CashFac Bank Drivers for connection to one or multiple banks in single or multiple territories. All CashFac products are multi currency.

Access control and authorizations are fully configurable and there are deep audit trails of user, transaction and account activity. The compliance features are advanced and automatic (client money rules and Sarbanes-Oxley).

Reporting tools help the user to maximize the value of data and enhance management control.

Faster Payments Plus

We work with our partner banks to deliver faster payment capability to customers.

CashFac extends faster payment capability through the financial supply chain.This is illustrated by reference to the existing pensions market, especially the Defined Contributions (DC) market.

The pay-to-allocation cycle in the existing DC pension market is 5 – 26 days for 90% of contributions, although there remain cases where reconciliation and allocation take months.

Using A2Pay, VBT and A2Receive, CashFac technology can now pay / receive reconcile and allocate pension contributions in 1 day. The total saving of this paradigm is very substantial.

CashFac Service Level Monitor

VBT is uniquely positioned to help the client services manager in outsourced business processing (for example pensions administration and property management) to monitor the performance of customer service teams in the area of reconciliation and allocation of funds, in the timely onward transmission of funds (e.g. for investment) and in maintaining optimum balance levels.