Valero Energy Selects Cash Management Solutions from Fiserv for its Retail Stores

Valero Retail Holdings, a subsidiary of Valero Energy, an international manufacturer and marketer of transportation fuels, has selected Fiserv’s CorPoint: Deposit Manager cash management solution for use in the company’s North American retail stores. With this solution Valero will be able to deploy an armoured-carrier agnostic remote cash capture solution and select smart-safe hardware devices that best meet the needs of its retail stores.

CorPoint from Fiserv will provide Valero near real-time information delivered from smart safes in Valero retail stores to the company’s central site to ensure consistent accounting and bank reconciliation procedures are maintained. Since the Fiserv remote cash capture solution is armoured-carrier agnostic, Valero can choose the most cost effective armoured carrier provider, while still maintaining use of consistent smart-safe manufacturers.

“Valero, a Fortune 500 international fuel manufacturer, had previously been using a fragmented remote cash capture solution and had outgrown its armoured carrier solution,” said Brian Jorgenson, vice president of operations, cash and logistics, Fiserv. “It needed a cost-effective, automated solution for easy implementation across its retail stores nationwide. Through CorPoint: Deposit Manager, Fiserv is able to provide that.”


Related reading

New consumer banking head for Citi Asia Pacific