UniCredit Bank in Ukraine Selects Fiserv Currency Supply Chain Management Tool

Financial services technology group Fiserv, and its local implementation partner Mellon Ukraine, said that UniCredit Bank in Ukraine has selected its Integrated Currency Manager (ICM) tool to optimise the bank’s cash reserve levels and maximise transportation capacity.

ICM is a web-based cash supply chain management and optimisation tool that automates cash forecasts. The engagement follows Fiserv’s announcement last year that it was working with First Ukrainian International Bank (FUIB) to help address and manage cash reserve requirements across its network.

“We have already put quite a lot of effort into successfully reducing our total automated teller machine (ATM) cash-related costs, and once we have fully implemented ICM we expect that we will be able to achieve even better results in cost optimisation, while at the same time ensuring maximum cash availability for the customers,” said Valeriy Lapin, professional, self-service management, UniCredit Bank.

“We also expect the advanced management information will help further improve performance and reduce costs.”

“In a country with high interest rates, idle cash, outages or overages can be very costly,” added David McLaren, business development director for Europe, the Middle East and Africa (EMEA), cash and logistics, Fiserv. “Fiserv consultants understood the existing processes that were important to UniCredit along with local operational requirements, and created a solution that allowed these to be managed more effectively and efficiently.”

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