Jobstream Group combined with Cashfac Initiative to demonstrate end-to-end virtual banking solutions for trust companies at the Shorex exhibition in London in March 2000.
Visual Jobstream’s Virtual Banking option pack integrates Jobstream’s core trust accounting and administration system with CASHFAC Virtual Bank Technology®. 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. The end-to-end system increases efficiency and customer service levels, while reducing timescales and the possibility of errors.
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.
Contact Jonathan Egré at the Cambridge office for further details