HeyDay Europe selects Cashfac for virtual accounts platform

Source: Cashfac

Following a competitive selection process, we are delighted to announce that HeyDay Europe has signed a partnership agreement with Cashfac to provide their Virtual Accounts platform.

HeyDay Europe is a private equity firm that invests in companies that are active in the ICT, engineering and manufacturing sectors. The Netherlands-based company selected Cashfac – the leading Virtual Accounts software provider for complex cash management operations delivered to large businesses, government departments and globally via our bank partners - for its innovative and proven technology and commitment to social responsibility.

HeyDay will use Cashfac’s Virtual Bank Technology (VBT) to launch their new proposition, BBC-accounts©, a dedicated banking solution for professional care providers and their clients. With BBC-accounts© care providers can efficiently open and manage bank accounts on behalf of their clients. This dedicated and proven solution contains specific features and tools to address the specific needs of care providers, such as reporting, governance and control.

Chantal Verhoeven, Cofounder and Partner at HeyDay said: “In my years working for one of the largest banks in The Netherlands, I have seen a lot of smart banking solutions from many software companies. When I was introduced to the Virtual Accounts solution by Cashfac, I immediately recognised the potential of this solution for financial care providers and their clients in The Netherlands. HeyDay is very pleased to enter a cooperation with Cashfac. We are convinced that together with Cashfac we can innovate banking for the large and growing group of vulnerable citizens. HeyDay is as committed as Cashfac to combine financial innovation with social responsibility.”

Ralph Loop, Co-founder and Partner at HeyDay, added: “In the Netherlands, approximately 350,000 people are depending on professional financial care providers to assist them with their finances. Being committed to ensuring access to the financial ecosystem for all citizens, especially vulnerable citizens, HeyDay is excited to launch bbc-accounts© in The Netherlands, working in close cooperation with Cashfac and relying on their proven Virtual Accounts platform.”

Richard Cummings, CEO of Cashfac, said: “We are very pleased to be providing a solution that enables HeyDay make their proposition a reality. Cashfac already successfully offers its platform to several county and city councils throughout the UK for care providers to assist vulnerable citizens in managing their finances. We are proud to be able to offer solutions to companies like HeyDay that centre around helping those that are unable to help themselves.”

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