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 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.

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.

Guide: Boost Cash Flow Visibility with Virtual Accounts

Discover virtual accounts power in boosting cash flow visibility.

Simplify Cash Management

Creating virtual accounts linked to a minimal number of real bank accounts can streamline your financial structure. This setup not only reduces costs but also lessens reconciliation burdens. With Fennech's Virtual Accounts, you can gain maximum control and clear reporting. This tool empowers you to optimise your financial management, making it easier to handle day-to-day operations and long-term planning.

Take Control of Your Finances

The Fennech Financial Framework, F³, offers an innovative solution: the In-House Virtual Bank. F³ integrates advanced tools for liquidity management and cash forecasting. This means your treasury and finance teams can streamline operations, cut costs, and gain greater visibility and control over your organisation's finances. The F³ In-House Virtual Bank is the key to optimising your financial operations, providing you with the tools you need to manage your funds effectively.

Spotlight on Non-Profit Finance: The Virtual Account Advantage

Boards of non-profits, NGOs, and charities face unique financial challenges. From securing diverse funding sources to maintaining transparent financial records and minimising overhead costs, managing finances in this sector can be complex. In an increasingly digital world, leveraging technology becomes crucial to overcoming these hurdles. One such technological advancement in non-profit finance is the use of virtual accounts. These accounts help streamline financial operations, ensuring transparency and efficiency.

Why Choose Fennech?

Fennech is leading the way in providing comprehensive virtual account solutions. Our tools are designed to offer unparalleled cash flow visibility, control, and efficiency. By adopting Fennech V-Accounts, you can expect:

Simplified cash management
Enhanced financial transparency
Reduced reconciliation burdens
Improved financial reporting

Our solutions are tailored to meet the needs of both SMEs and large enterprises, ensuring that you have the right tools to manage your finances effectively.

So, whether you are managing the finances of a small business or a large enterprise, Fennech's V-Accounts can offer significant benefits. Download our comprehensive guide to learn more about how virtual accounts can transform your financial management.