UK bank Lloyds TSB is to deploy Carreker Corporation's inventory management solution, Integrated Cash Operations Module (iCom), across its network of 4200 ATMs.
The iCom solution helps banks and service providers automate cash-ordering processes and manage inventory levels.
The system uses forecasting technology to determine the optimal currency order and shipment amounts for ATMs, using historical demand-based information. It develops a daily cash activity profile for each cash site and provides pre-emptive cash shortage alerts.
Texas-based Carreker says iCom users have historically reduced overall cash inventories by 20 to 40 per cent while improving transportation schedules and lowering cash handling costs.