Banks continuing investment to provide leading edge cash management technology and services to their corporate customers and the constantly evolving regulatory and compliance landscape is driving significant demand for Cashfac's technology. These new senior management hires will enable Cashfac to support, and expand, their customer base in this changing market environment. In his role Richard will oversee the execution of company strategy across all areas of the business. Alastair will be responsible for leading the company's global Sales and Business Development operations.

Commenting on the appointments, Paul Ormrod, Founder and Chief Executive, Cashfac, said: "The investments that Cashfac has made in our Cloud applications and in removing the burden of technology management for our clients are paying real dividends. We've seen the continued adoption of Cashfac's solutions by both our Bank partners and the broader market place. As such I set out a strategy to strengthen the management team with two individuals who have a proven track record. The timing of these appointments and others soon to be announced could not be better."

Richard Cummings, Deputy CEO, Cashfac, added: "I'm delighted to be part of the team, Cashfac's outstanding pedigree in providing cash management solutions coupled with a highly skilled and experienced team has created an exceptional platform on which to grow and expand."

With over 25 years' experience in global banking and financial markets Richard has developed a career and reputation for being entrepreneurial and driving businesses to succeed. Prior to joining Cashfac Richard was COO of AlertMe, the leading technology innovator in cloud-based Smart Home Services, where he oversaw all aspects of development and operations as well as key client relationship management. Previously Richard was EVP, Major Markets, at SmartStream Technologies where he grew and managed the company's customer facing operations in the UK, the Americas and Asia Pacific. He also led several large sales and client services operations at Reuters and Sungard.

Alastair McGill, Managing Director, Global Business, Cashfac, said: "The opportunity for Cashfac is significant and exciting. As the regulatory landscape continues to evolve the ability for firms to maintain their compliance whilst managing their complex cash based processes has never been so important. Cashfac's clients have proven that our smart technology unravels that complexity and enables them to drive real value from their cash-based services and products."

Alastair has more than twenty years' experience running international Sales, Marketing and Business Development teams at leading international technology companies. Prior to joining Cashfac Alastair spent over a decade on the management at SmartStream Technologies in a variety of positions, most recently as EVP Business Development and Alliances, responsible for the company's distribution business, strategic alliances and market development. Previously Alastair was Marketing Director UK & Ireland for PeopleSoft, which he joined having started his career at Hewlett-Packard.