Cashfac's system is used by leading international organisations such as the Royal Bank of Scotland, the Bank of Montreal, Abbey National Group and Virgin Direct. The new option pack gives seamless, value-added linkages between Visual Jobstream's accounting database and a host bank or banks.
Users can process all bank-related client transactions electronically.
Cheques and telegraphic transfer requests can be initiated from within Visual Jobstream. They will automatically be accounted for and the host banking system will issue electronic confirmation that a request has been acted upon. Reconciliation is automated, and separate transaction handling rules for each client ensure that one or two trust administrators can exercise direct control over thousands of client bank accounts. This innovative use of virtual banking technology provides trust managers with a high degree of control over their banking transactions and client money movements. It also allows trust managers to offer their clients a range of private banking services under their own brand and management.