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Ecuador's Produbanco licenses Transoft's currency management software

20 July 2007  |  3201 views  |  0 Source: Transoft International

Transoft International, a leading provider of currency supply chain management solutions, announced today that Produbanco has licensed and is in the process of installing Transoft's OptiCash and OptiNet currency management software for ATM and Branch cash management.

Produbanco, head of the Grupo Financiero Produccion (GFP), was founded in 1978 and provides full consumer, corporate and private banking services through its network of over 140 ATMs, 65 Branches and 65 Servipagos (Service Payments Center) locations throughout Ecuador.

A comprehensive currency management software solution, OptiCash will automate cash forecasting, cost balancing, ordering, monitoring, expense tracking and more for Produbanco and GFP. By using historical demand data and statistical algorithms ATM and branch cash levels are cost optimized to effectively meet demand at the lowest possible cost. 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.

OptiNet, a fully automated branch ordering and recommendations override system, provides access to support information for branch and currency managers to help them make informed decisions regarding cash orders for every cashpoint they manage. This support information generated by OptiCash includes among other things, historical data, forecasted currency demands, and scheduled deliveries.

"We are looking forward to have OptiCash and OptiNet working for us. We have set very aggressive objectives for this project, and all of our expectations have remained intact throughout the implementation phase. We need to manage our cashpoints more efficiently and OptiCash and OptiNet are the tools we have chosen to achieve this goal," said Guillermo Moreano, vice president of Operations and Technology at Produbanco.

"Produbanco is recognized as a leader in providing advanced financial services in the markets they serve and we are proud that they have chosen Transoft for their ATM and Branch currency management solution", stated Bo H. Holmgreen, president at Transoft. "Furthermore the addition of Produbanco to our growing Latin American client base is testament to the strength of our products and applicability to the global market."

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