Cashfac Corporate Virtual Bank provides the most complete bank solution for Corporate Treasury operations allowing corporations to centrally control complex cash operations across multiple banks and multiple regions, without the need for a banking license.

Cashfac provides a single view and a single platform for any number of accounts and linked to multiple banks. It includes the most powerful virtual bank account functionality available, fully bank active outward facing payment and remittance handling capability. A single bank account can be virtualized into thousands of bank-active virtual bank accounts or sub-accounts. It supports target balancing, including taking into account the value of transactions in the pipeline, and proactively eliminates redundant bank balances. Operations have more data, greater visibility of transactions and balances and the complexity of managing multi-account infrastructures is eliminated.

Cashfac accelerates integration with both bank systems and client side systems with pre-packaged Bank Drivers for many of the leading banks, and Cashfac’s APIs and mapping technology for an easy to use, intuitive ETL tool, which reduces the integration burden with new banks or client side systems.

Features & Functionality:

  • offers accounts which operate as standard bank accounts so that payments can be made from accounts and receipts can be credited to them.
  • accounts support sweeping, netting and aggregation.
  • supports any type of payment including direct credits, direct debits, real time gross settlement, inter account transfers, SWIFT and cheques.
  • provides a unique settlement method for supply chain payments.
  • allows primary transactions to be imported or bulk loaded directly into the solution including invoices, investment instructions, contribution schedules, payroll deductions and rent demands etc. It translates these transactions into payments and generates authorisation requests, balance checks and the necessary accounting entries and audit trails.
  • controls cash budgets attached to all bank accounts, and monitors these in real time.
  • is able to record more details on single transactions, in the format they require including mandatory and non-mandatory reference fields.
  • provides real time and batch connectivity to primary systems such as ERP, accounts receivable, accounts payable and product systems.