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Simplify Corporate Banking with Digital Cash Ledgers and Virtual Accounts


Many corporates struggle to manage multiple bank accounts across various banking partners. While some accounts are necessary for currency movements and regulations, many are just ledgers for business units or legal entities. Let's explore how digital cash ledgers and virtual accounts can help.


Chief Revenue Officer  | Melina Moussali

Chief Revenue Officer

Melina Moussali


Trusted by partners

Melina MoussaliDigital cash ledgers and virtual accounts  offer a solution by enabling the creation of multiple virtual ledgers linked to a minimal number of physical bank accounts. This innovative approach optimises reporting, enhances control, and simultaneously reduces costs and reconciliation challenges

Melina Moussali

Chief Revenue Officer

"Digital cash ledgers and virtual accounts offer a solution by enabling the creation of multiple virtual ledgers linked to a minimal number of physical bank accounts. This innovative approach optimises reporting, enhances control, and simultaneously reduces costs and reconciliation challenges "

Virtual Bank Accounts: Why Businesses Should Own Them

Managing multiple physical bank accounts is cumbersome and costly, requiring daily reconciliation. V-accounts simplify this by creating virtual cash ledgers for corporate entities, offering a detailed view of transactions and liquidity. They allow for granular analysis of cash positions across different business units, legal entities or geographies and streamline financial operations with predefined rules that automate payment allocation, reducing both complexity and costs.


Managing multiple physical bank accounts is cumbersome and costly, requiring daily reconciliation. V-accounts simplify this by creating virtual cash ledgers for corporate entities, offering a detailed view of transactions and liquidity.  They allow for granular analysis of cash positions across different business units, legal entities or geographies and streamline financial operations with predefined rules that automate payment allocation, reducing both complexity and costs.
Virtual Accounts in Healthcare: Revolutionising Financial Management

Complex treasury requirements continually challenge the healthcare industry. Amidst striving for clinical excellence, healthcare providers grapple with efficiently managing cash flows and operational costs. The sector’s financial landscape is intricate, marked by the need for meticulous handling of patient billing, insurance claims, and numerous transactions. Find out more about how virtual accounts can help enhance cash flow management in healthcare finance.


Complex treasury requirements continually challenge the healthcare industry. Amidst striving for clinical excellence, healthcare providers grapple with efficiently managing cash flows and operational costs. The sector’s financial landscape is intricate, marked by the need for meticulous handling of patient billing, insurance claims, and numerous transactions. Find out more about how virtual accounts can help enhance cash flow management in healthcare finance.
Simplify Cash Management

Create virtual accounts linked to a minimal number of real bank accounts. This streamlines your structure, reducing costs and reconciliation burdens. Gain maximum control and clear reporting with Fennech's Virtual Accounts, empowering you to optimise your financial management.


Create virtual accounts linked to a minimal number of real bank accounts. This streamlines your structure, reducing costs and reconciliation burdens. Gain maximum control and clear reporting with Fennech's Virtual Accounts, empowering you to optimise your financial management.

Simplify Account Management with Digital Cash Ledgers


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Digital cash ledgers and virtual accounts are emerging tools in corporate treasury management, offering companies innovative ways to manage cash flow, streamline operations, and enhance financial visibility. By creating a virtual structure within a limited number of real bank accounts, these tools allow organisations to track, manage, and optimise cash at unprecedented levels of detail, all while keeping costs and account complexity to a minimum. To understand their impact, it’s essential to explore what digital cash ledgers and virtual accounts are, their key benefits, and their practical applications in corporate treasury.

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Digital cash ledgers and virtual accounts are emerging tools in corporate treasury management, offering companies innovative ways to manage cash flow, streamline operations, and enhance financial visibility. By creating a virtual structure within a limited number of real bank accounts, these tools allow organisations to track, manage, and optimise cash at unprecedented levels of detail, all while keeping costs and account complexity to a minimum.
To understand their impact, it’s essential to explore what digital cash ledgers and virtual accounts are, their key benefits, and their practical applications in corporate treasury.

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What Are Digital Cash Ledgers and Virtual Accounts?


• Digital Cash Ledgers: A digital cash ledger is an electronic record used to track cash transactions and balances. Often centralised, it logs all inflows and outflows of cash, supporting real-time visibility into cash positions and helping companies maintain precise control over liquidity. • Virtual Accounts: Virtual accounts are sub-accounts tied to a primary bank account. They allow companies to allocate funds and manage transactions by specific departments, clients, or subsidiaries without opening separate physical accounts, streamlining processes and reducing banking fees.


•	Digital Cash Ledgers: A digital cash ledger is an electronic record used to track cash transactions and balances. Often centralised, it logs all inflows and outflows of cash, supporting real-time visibility into cash positions and helping companies maintain precise control over liquidity.
•	Virtual Accounts: Virtual accounts are sub-accounts tied to a primary bank account. They allow companies to allocate funds and manage transactions by specific departments, clients, or subsidiaries without opening separate physical accounts, streamlining processes and reducing banking fees.

Key Benefits


• Enhanced Cash Visibility: Digital cash ledgers update instantly, providing treasury teams with real-time insights into cash positions across accounts. Virtual accounts add another layer by allowing segmentation for specific purposes, like project funding or regional tracking. • Reduced Operational Costs: Virtual accounts eliminate the need for multiple bank accounts, lowering transaction and maintenance fees. Combined with digital cash ledgers, companies can further reduce reconciliation time and effort, freeing up resources. • Streamlined Reconciliation: Digital cash ledgers automate transaction recording and matching, significantly reducing manual reconciliation work. Virtual accounts simplify tracking by consolidating related transactions, helping treasury teams close accounts faster and with fewer errors.

•	Enhanced Cash Visibility: Digital cash ledgers update instantly, providing treasury teams with real-time insights into cash positions across accounts. Virtual accounts add another layer by allowing segmentation for specific purposes, like project funding or regional tracking.
•	Reduced Operational Costs: Virtual accounts eliminate the need for multiple bank accounts, lowering transaction and maintenance fees. Combined with digital cash ledgers, companies can further reduce reconciliation time and effort, freeing up resources.
•	Streamlined Reconciliation: Digital cash ledgers automate transaction recording and matching, significantly reducing manual reconciliation work. Virtual accounts simplify tracking by consolidating related transactions, helping treasury teams close accounts faster and with fewer errors.

Applications in Corporate Treasury


• Liquidity Management: Digital cash ledgers provide real-time cash insights, essential for accurate liquidity planning and forecasting. Virtual accounts allow funds to be efficiently allocated and transferred across various units or subsidiaries, optimizing cash usage and reducing idle balances. • Cash Pooling: Virtual accounts facilitate notional or physical cash pooling, where companies can centralise and utilise funds across different entities without moving money between bank accounts. This improves liquidity and can reduce borrowing needs. • Efficient Intercompany Transactions: Virtual accounts enable intercompany transactions to occur internally, simplifying cash transfers among subsidiaries without needing external bank processing. This is especially valuable for multinational corporations managing cross-border payments.

•	Liquidity Management: Digital cash ledgers provide real-time cash insights, essential for accurate liquidity planning and forecasting. Virtual accounts allow funds to be efficiently allocated and transferred across various units or subsidiaries, optimizing cash usage and reducing idle balances.
•	Cash Pooling: Virtual accounts facilitate notional or physical cash pooling, where companies can centralise and utilise funds across different entities without moving money between bank accounts. This improves liquidity and can reduce borrowing needs.
•	Efficient Intercompany Transactions: Virtual accounts enable intercompany transactions to occur internally, simplifying cash transfers among subsidiaries without needing external bank processing. This is especially valuable for multinational corporations managing cross-border payments.

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Reviews


★★★★★

Fennech’s F³ platform excels in flexibility, customisability, and scalability, crucial for transforming treasury and finance through hyper-automation. Their affordable services cater to medium-sized companies, emphasising the need for real-time data and robust, secure processes, a lesson underscored by the COVID crisis.


ATEL, Francois Masquelier Chairman and CEO
Fennech’s F³ platform excels in flexibility, customisability, and scalability, crucial for transforming treasury and finance through hyper-automation. Their affordable services cater to medium-sized companies, emphasising the need for real-time data and robust, secure processes, a lesson underscored by the COVID crisis.
★★★★★

By combining the wide capabilities of Fennech Next-Gen Banking technology with AccessPay market leading bank integration platform, we were able to quickly and with minimal development effort, create a seamless experience for the Fennech client to provide a completely new cash network for the French market.


AccessPay, Anish Kapoor CEO
By combining the wide capabilities of Fennech Next-Gen Banking technology with AccessPay market leading bank integration platform, we were able to quickly and with minimal development effort, create a seamless experience for the Fennech client to provide a completely new cash network for the French market.
★★★★★

Fennech delivered a complex e-commerce trading network on time and on budget. The modularity and strength of their platform allows us to quickly add functionalities to exactly meet specific client demands.


Brinks, Mark Favero CEO
Fennech delivered a complex e-commerce trading network on time and on budget. The modularity and strength of their platform allows us to quickly add functionalities to exactly meet specific client demands.

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Frequently Asked Questions:
What are Virtual Accounts?

Fennech Financial's Virtual Accounts are digital cash ledgers linked to a primary bank account, enabling businesses to create multiple sub-accounts without the need for additional physical bank accounts. This approach simplifies financial management by providing detailed insights into transactions and liquidity across various segments of an organization, such as departments, subsidiaries, or projects. By implementing Fennech's Virtual Accounts, businesses can streamline financial operations, reduce banking fees, and gain comprehensive insights into their cash flows, leading to more efficient and effective financial management. Want to know more? get in touch!

What is the Fennech Financial Framework (F³), and how does it work?

F³ is a cloud-based platform that blends the best of core banking systems, enterprise resource planning and treasury management systems. It's robust, scalable and tailored for your unique IT environment, offering custom solutions to manage payments, cash, risk, and financing more quickly, cost-effectively, and efficiently.

What is Fennech Financial and what services do you provide?

Fennech Financial is a Next-Gen Corporate Banking Platform as a Service. We deliver Hyper-automation of Finance, Treasury, and Payment solutions in real time on One Platform, The Fennech Financial Framework (F³). Our ultimate goal is to help you automate and optimise financial workflows to enhance efficiency, accuracy, and compliance in treasury and financial operations. You can use as many or as little of our solutions to suit perfectly your requirements. Find out more by exploring our solutions.

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