Virtual Banking Technology helps banks adhere to Basel III
Leading banks around the world place Cashfac’s solutions at the heart of their cash management services offered to corporates and public bodies.
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Cashfac Balance & Transaction Reporting provides firms with visibility into enterprise-wide balances and transactions across their entire account infrastructure, even if accounts are held across a variety of banks.
The solution simplifies the daily task of gathering bank account information including account totals and transaction data for optimal cash management across all accounts. Cashfac Balance & Transaction Reporting also provides real time notifications for any transactions that cannot be processed or where insufficient funds are available to make payments from an account.
Establishing a company-wide balance, through multiple banks, with numerous bank accounts, frequently in different currencies has always been a time consuming and challenging process. By mandating strict reforms to improve financial disclosures the Sarbanes Oxley Act 2002 has firmly placed the onus on firms to demonstrate that they have robust internal controls for the management of their accounts. Cashfac Balance & Transaction Reporting offers a proactive, automated process for companies to confidently track and monitor their compliance with the minimum levels of resource and in the shortest possible time.
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