Sterling National Bank picks Cashfac for back office tech
Sterling National Bank has selected back-office cash management software from Cashfac, deploying its Virtual Bank Technology (VBT) platform.
VBT is deployed via the cloud and will allows Sterling to “provide scalable solutions” and “enhance client experience.”
The platform will provide a self-service receivables management process, linking clients’ master accounts to many sub-accounts.
Cashfac claims the system can remove “arduous manual” processes and enable more tailored solutions to specific market segments.
Sterling National Bank has more than 70 branches across New York state. The bank has $22.4 billion in deposits, and $30 billion in assets.
The bank is a wholly-owned subsidiary of Sterling Bancorp, a regional bank holding company founded in 1988.
“Cashfac provides us with a unique opportunity to leverage a world-renowned contemporary solution in the US,” says Luis Massiani, Sterling National Bank president.
“We greatly appreciate the commitment of the Cashfac team and are eager to begin a successful and lasting relationship with our new partner.”