Case Study: a third-party administration company streamlines pension contributions and administration with Cashfac

Pensions administrator transforms client pension contribution and administration process with Cashfac

A third-party administration company specializing in pension schemes sought to streamline its operations and implement a platform for growth by eliminating manual processes. Their challenge involved onerous, error-prone procedures for handling payments, collections, and investments, which delayed investment and prevented them from scaling their business efficiently. They partnered with Cashfac to find a solution.

Cashfac, in conjunction with Lloyds Bank, automated the processing of all pension contributions. The solution centralized treasury operations and virtualized client accounts into a single pooled bank account. This provided the administrator with greater operational control, automated reconciliation, and eliminated manual errors. As a result, the firm achieved a more efficient and compliant operation, with the implementation delivered in a short period of only eight weeks.