CashFac joins forces with Altus on STPCashFac and Altus have teamed up to deliver a truly integrated Straight Through Processing (STP) solution for pension investment processing. By combining the Altus Instruction Gateway and CashFac Virtual Bank Technology® the two firms have managed to automate the complete end-to-end investment process from administration system all the way through to cash settlement. Until now, the management of investment instructions and the cash to pay for them have remained quite separate, limiting the benefit from automating either one. With the new solution, however, investment instructions can be electronically generated and transmitted with cash settled and reconciled automatically on completion. Ben Cocks, Products Manager at Altus, believes this development will be key to making the STP economics add up: "Bridging the gap between finance and administration teams is essential to deliver the full benefit of STP. Many administrators have struggled to justify ViaNova investment on the strength of replacing a fax machine. But add in the financial control and efficiency benefits of integrated cash management and there is a compelling case". Angela Lewington at CashFac sees great synergy in the collaboration: "CashFac and Altus share a common philosophy on STP. Our product sets complement each other extremely well and share the same high standards of engineering." Early signs for the partnership are encouraging. Dave Watkins of Punter Southall says "It is very refreshing to see two key STP players introducing real solutions to process issues rather than focusing entirely on the technology. The level of collaboration between Altus and CashFac should be commended and their commitment to developing practical solutions to our everyday challenges bodes well for this venture."
April 2009 |
