Case Study: a global tax advisory company achieves automated IVA management and regulatory compliance with Cashfac

Cashfac’s technology reduced the administrative burden for the firm in setting up and managing a large number of insolvency case accounts

A global tax advisory company, with nearly 40,000 employees across 120 countries, faced a challenge when new Personal Insolvency regulations in Ireland introduced stricter rules for managing client cash. Their regional Irish office needed a solution to handle individual voluntary arrangements (IVAs) that would ensure regulatory compliance and improve operational efficiency.

Cashfac implemented its virtual banking platform, which automated the entire process of managing IVAs. This Cashfac solution provided automated payments, receipts, and real-time reconciliation, drastically reducing the administrative burden. The platform gave the firm a single, scalable view of all assets, ensuring compliance with the new regulations and significantly speeding up the process of returning client assets.