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Fixed Term Deposits

Cashfac FTD Manager is applicable to wealth managers or other institutions seeking to simplify the launch of Cash products such as FTDs.

Cashfac enables wealth managers seeking to offer clients competitive rates on lodgements the ability to quickly and easily establish and manage cash based products. Cashfac FTD Manager is a smart aggregation technology, enabling asset managers to define a deposit shape, maturity and rate, and then collect multiple small fixed term amounts from participating clients. The back office work of aggregating cash payments is managed by Cashfac.

The solution is multi-bank, so that a range of deposit takers can be included in the proposition. And client cash on deposit can be re-invested at the end of term into another fixed-term product, or the cash can be retained in a client cash account.

Features & Functionality:

  • enables the creation of new wholesale deposit ‘shapes’ from the aggregation of many contributing parties.
  • supports the promotion of ‘shapes’ to relationship/account management departments to sell to their customers.
  • provides distributed visibility of sales progress and take-up.
  • allows assessment of ‘shape’ size in real time before term commencement and deal strike dates.
  • delivers real time visibility of maturity dates and amount through a product management portal.
  • handles all of the interest, administration, collection, settlement and accounting, leaving the bank with one large shape.
  • provides flexible term options; contingent on rates/terms offered by the asset manager.
  • is Basel III optimised for lower capital requirement and best pricing by the bank.