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CashFac Extends It’s Straight Through Cash Processing® and Virtual Bank Technology® Into Asia Pacific with Local Technology Provider Simbient

Submitted by girlsmed on Sat, 10/31/2009 - 02:50

Proven CashFac technology that has been available in the UK and Europe for over 15 years is now available in its latest real time Series 3 form to Banks and Corporates across Asia Pacific. CashFac has committed to a strategic partnership with established Australian IT firm, Simbient Pty Ltd who will be the licensed re-seller of CashFac technology within the region.

CashFac is the leading supplier of virtual account technology. It counts major European banks amongst its clients and is keen to extend its market share and its client base to include major banks within the Asia Pacific region. CashFac’s banking partners have used its unique solutions to acquire $Billions of new deposits through the acquisition of new clients. The CashFac platform is relevant to all Corporate, Non-Bank F.I. and F.I. clients across all regions and has strong reputation in delivery as it has achieved 100% client retention over the last 5 years.

“The CashFac product set has a tremendous range of applications. With its diverse functionality it is suited to multiple market sectors including Property Management, Super Fund payments, Insurance, Legal to name a few. It will provide benefits to both the Banks and their customers.

“We are very excited about our new partnership with CashFac Inc. and are looking forward to taking this solution throughout the Asia Pacific region. This offering will complement Simbient’s existing .net development and Application Management services into the Financial and Corporate markets.” Steve Tait, Managing Director CashFac Simbient Pty Ltd.

“Global market conditions have caused Corporate institutions to focus on both their cash and liquidity. Banks have responded to this by providing solutions that remove huge costs and create great efficiencies for their customers. This new partnership will allow us to continue our international expansion and assist Banks in the region to acquire high quality “sticky” deposits.” Ray Wilson – Sales and Marketing Director CashFac UK

Paul Ormrod CEO CashFac UK said: “We have been working with Simbient since April this year on knowledge transfer and marketing, and I am extremely pleased now to be in a position to announce this partnership. Simbient has a great mix of success and technical depth, and is a natural fit for CashFac. This is an important commitment for us to this hugely influential and important marketplace. We are providing our latest real time virtual account technology to Simbient along with experienced technical and marketing support. Our recent success in helping big corporations such as Fidelity International, BNP Paribas and Barclays Bank with cash management should allow us to tap in to the latent potential in the Asia Pacific market for CashFac solutions”.

For additional information regarding the launch of CashFac in the Asia Pacific region, contact Mary Cameron on +61 (0) 4391 60006 or email MaryC@CashFac.com.au

About CashFac
Headquartered in City of London and with R&D offices in Scotland, CashFac is a software and related services business that applies CashFac Virtual Bank Technology® and A2Pay® to provide Straight Through Cash Processing® solutions for complex money management. These solutions release substantial benefits for corporate customers in terms of cost savings, compliance with complex money regulations, and enhanced client service. At the same time, these solutions release substantial deposit balances and / or loan balances for our partner banks.

For more information on CashFac refer to www.cashfac.com

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