NCR to distribute Transoft cash management products

Source: NCR

NCR Corporation (NYSE: NCR) and Transoft International, Inc., both leading vendors to the financial marketplace, have entered into a new global agreement to ensure that banks have the optimum cash available to meet customer needs at the lowest possible cost.

Under the agreement, NCR is now able to provide banks worldwide with Transoft's OptiCa$h, OptiNet and OptiVault currency-management applications through a product resale motion or as part of a NCR Managed Services solution. These proven applications are currently providing NCR customers such as Akbank in Turkey, Nordea in Scandinavia and RBC Royal Bank in North America with substantial annual savings related to cash-supply management for their ATM networks.

"Cash is by far the largest operational cost component in ATM networks and thus provides the greatest opportunities for savings," says Bo Holmgreen, president and chief executive officer of Transoft. "NCR's global reach and expertise in delivering financial products and services coupled with Transoft’s twelve years’ experience and continuous application-improvement strategy results in the most robust combination and ultimately provides customers the most mature and solid solution. Our new global partnership agreement will ensure industry-leading currency-management capability on a truly worldwide basis."

The OptiCa$h application automates and optimizes future cash-holding requirements based on customer demands, events and cost information, enabling financial institutions to maintain optimal levels of cash at ATMs and branches. This provides obvious reductions in the costs associated with the currency supply chain. Used in conjunction with OptiCa$h, OptiNet enables users to generate emergency orders when unforeseen demand renders a bank low on cash. OptiVault is a complementary application that optimizes currency ordering for bank money rooms and/or carrier vaults, taking into account branch, commercial and retail cash as well as cash demand associated with on-site and stand-alone ATMs.

RBC Royal Bank, one of North America's largest and most progressive banks, is already taking advantage of the new NCR-Transoft agreement to better manage cash distribution to its approximately 4,500 cash delivery points. According to James McGuire, senior manager, Self Service Networks for RBC Royal Bank, "The use of Transoft's OptiCa$h product as part of NCR’s Managed Services offering has effectively increased ATM availability to our clients. The holistic approach to cash management has reduced cash out situations while at the same time minimizing cash holdings. The end result – more satisfied clients and a lower cost of servicing the network."

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