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.”
Sibos 2017 Day Two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more
Day one of the global Money 20/20 conference focused on AI and machine learning, investor and fintech partnerships and the future of robotics.
On day one of SIBOS, panellists unanimously agreed that doing nothing to modernise payments was no longer safe bet for transaction banking.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.