For local government Cashfac provides solutions specifically designed to control the management of cash for vulnerable and unbanked communities. It reduces the administrative burden of setting up and managing large numbers of service user bank accounts.

Cashfac automates all cash flows transferring the administration of a public sector organization’s main account into thousands of virtual accounts, which can be opened and activated instantly.
Bringing together all deputyship, appointeeship and guardianship accounts, Cashfac Care Accounts provides a single, real time picture of the assets held across all Service User Accounts.
Cashfac provides greater insight into payments and real-time balances across all accounts and removes the need to manually reconcile accounts.

Applicable solutions include:

  • Care Accounts to assist the collection and management of high volume payments. The entire process, from payment collection through reconciliation to receipt allocation and matching, is automated.  Cashfac has designed Care Accounts specifically for Government Authorities responsible for managing cash for vulnerable and unbanked communities. It reduces the administrative burden of setting up and managing large numbers of service user bank accounts. It automates all payments and receipts, and prevents fraud ensuring that cash is spent by the appropriate parties on approved goods and services.
  • Client Money for public sector bodies that are responsible custodians of client money Cashfac supports the entire client money lifecycle; from the instant creation of dedicated client trust accounts to the identification, physical separation and protection of client money funds.