First Citizens to implement Transoft currency management system

Source: Transoft

Transoft International, a leading provider of currency supply chain management solutions, announced today that First Citizens Bank based in Raleigh, N.C., has elected to upgrade to the latest version of Transoft’s OptiCash currency management software. The implementation of OptiCash version 6 will enable First Citizens to take advantage of the many new features now available. OptiCash has been providing sophisticated cash management for the bank’s ATM and branch networks for more than five years.

A comprehensive currency management software solution, OptiCash automates cash forecasting, cost balancing, ordering, monitoring, expense tracking and more for the bank. OptiCash uses First Citizens' historical demand data and applies statistical algorithms to cost-optimize ATM and branch cash levels. In addition, OptiCash takes into account seasonal fluctuations, calendars, events and those trends that influence demand for cash to ensure accurate forecasts and maximum network availability.
The new capabilities in OptiCash which include enhanced functionality, improved management reporting, innovative simulation tools and faster performance have proven to result in even greater recurring cost savings for OptiCash users.

"Transoft's OptiCash and OptiNet solutions have enabled us to effectively manage currency in our branches," said Martha Church, senior vice president for loss prevention and currency management at First Citizens Bank. "With the 6.0 upgrade, our focus will be on fine-tuning the ATM network. We are excited about the improved reporting and trending capabilities of the new release and will carefully monitor the results."

"It has been a pleasure working with the members of First Citizens Bank, and we value the relationship that has been established over the years," stated Bo H. Holmgreen, president at Transoft. "They have been influential in the ongoing development of our products, and we are excited to have the opportunity to be of continued service their organization."

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