Cashfac Partners with NashTech in Vietnam

• Outsourced development and test partnership to provide scalability and support Cashfac’s growth and expanding product suite

LONDON – Cashfac Technologies, the market leader in Bank-to-Corporate Cash Management solutions, today announced a partnership agreement with NashTech’s IT outsourced development and test operations. NashTech will provide offshore development and test resources for a number of Cashfac’s non-core capabilities from their base in Vietnam. The NashTech resourcing complements Cashfac’s UK based development team and is supporting the expansion of Cashfac’s cash management solutions. NashTech is a division of global IT outsourcing and professional recruitment company Harvey Nash Group.

Cashfac continues to expand its core technology development and deployment capability while NashTech will provide additional capacity for non-core external components and test services in order to accelerate time to market.

This news follows the announcement by Harvey Nash of its plans to establish a new Tech Hub virtual network to enable UK tech enterprises to meet, share best practice and collaborate with partners from Asia’s dynamic technology sector. The initiative has the backing of Prime Minister’s in both the UK and Vietnam and will help to unlock millions of pounds of value through the development of new technologies.

Richard Cummings, CEO of Cashfac, said: “NashTech has developed a reputation for innovation and process excellence. These values combined with their stable, highly educated and experienced team in Vietnam offers Cashfac a tremendous partnering opportunity. NashTech are enabling Cashfac to expand in a controlled and scalable manner that supports our considerable growth and the increasing demand for our solutions. We are already seeing the benefits of this working relationship.”

Paul Smith, Chairman of NashTech, said: “As the second most popular investment destination in Asia Pacific, behind China, Vietnam presents huge investment and collaboration opportunities for the UK technology sector. This partnership with Cashfac demonstrates the positive impact that relationships with the UK technology sector can have on Asian business. We look forward to our continued work with Cashfac and to helping support their continued growth.”