Cashfac works with Wealth and Wrap platforms to provide cash accounts (interest and non-interest), scalable account structures, cash products and cash management solutions. Platform providers are able to retain assets transforming product redemptions into cash held in cash accounts.

Cashfac controls the collection and payment of fees to and from the platform. Where money is paid into or out of a cash account by the customer payments and receipts are captured or derived from a single, designated, approved account.

Money movements to and from the customer are easily administered with Cashfac controlling the revenue stream for the provider, managing the margins on all cash holdings.

Platform providers have access to real time statements, valuations and can drill down to transaction and switches between cash accounts, investments and product wrappers.

Applicable solutions include:

  • Client Money for Wealth and Wrap platforms Cashfac supports the entire client money lifecycle; from the instant creation of client accounts to the identification, physical separation and protection of client money funds under CASS 5 and CASS 7 money rules.
  • Accounts Receivable Management 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.
  • Electronic Account Opening enables the rapid opening of multiple account types, configured to meet different product requirements, whilst maintaining the highest levels of regulatory control.
  • Fixed Term Deposits & Cash Products Cashfac enables Wealth and Wrap platform providers to offer clients competitive rates on lodgements the ability to quickly and easily establish and manage cash based products.
  • Employee Benefits Management improves the financial control of finance and administrative teams in managing workforce benefits and financial products.