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Santander goes live with Cashfac services for corporate clients

Gfk Consumer Confidence Chart Rises in December

Santander has gone live with corporate cash management and client money services from Cashfac Technologies. The Cashfac-powered solutions will be made available via the Santander Connect online banking service, for corporate and commercial clients. They will serve insolvency practitioners, property managers, fund managers and investment companies. Cashfac's solutions provide a real-time, granular approach for corporates to better control cash across their business. They fully automate the management and control of payments, receipts and reconciliations to reduce corporate institutions' dependence on manual processes and provide visibility across the entire lifecycle of a payment. Joanne Sugden, head of transactional banking and liquidity at Santander, said: 'We needed a cash management solution that could be deployed across a variety of market sectors and enable our corporate customers to manage high volumes of accounts and client payments, automate complex back office processes and ensure that their reporting operations adhere to the necessary audit and regulatory requirements.

 

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