Nationwide Building Society is to implement Carreker's Internet-enabled cash inventory management solution, Integrated Cash Operations Modules (iCom), to manage the money supply to its network of 681 branches and 2000 ATMs.
The Dallas-based vendor's software determines the optimal cash inventory, order, and shipment amounts for individual branches, ATMs, transportation providers and the vault. It interprets and imitates historical data to define customer behavior and adjusts for variables to forecast future customer demand, and it provides multiple levels of customised alerts to guard against cash shortages.
Carreker claims iCom can bring down cash supply chain costs by 20-40% in the first year of implementation
Steve Carpenter, manager, cash services of Nationwide, says: "With iCom's Internet-enabled cash management capabilities, we can ensure our members have access to the cash they need at our branches and through our ATM network, while we are able to manage our costs more effectively."