Case Study: LV= streamlines £140m fund migration and account management with Cashfac

LV= moves £140m from 40,000 accounts with Cashfac

The customer, LV=, a leading provider of insurance and retirement plans, faced the administrative burden of managing 40,000 real client bank accounts. They sought a solution from vendor Cashfac to implement a virtual account infrastructure that would reduce this overhead, increase operational flexibility, and ensure compliance with new regulations.

Cashfac implemented its virtual account solution, consolidating the 40,000 real accounts into just 6 real accounts with thousands of virtual sub-accounts. This migration of £140 million was completed in one night without any issues. The results included significant cost savings that paid for the solution within the first year, a drastic reduction in administrative tasks and bank charges, and a faster, more controlled treasury operation less prone to error.

LV=