Banamex is a subsidiary of Grupo Financiero Banamex, a member of Citigroup Inc., and the leading financial institution in Mexico.

Founded in 1884 Banamex provides full consumer, corporate, private and investment banking products and services to their customers through extensive Branch and ATM networks in the country. Banamex will use OptiCash to handle all aspects of currency management for these networks as well as support the needs of other Citigroup banks throughout Latin America.

A comprehensive end-to-end currency management software solution OptiCash will be used to automate cash forecasting, cost balancing, ordering, monitoring, expense tracking and more for Banamex. 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, events and those trends that influence demand for cash to ensure maximum network availability.

"With OptiCash we will realize significant recurring savings through decreasing cash holdings, reducing associated costs and improving operational efficiencies," said Samuel Lara, Director of Consumer Banking of Latin America at Banamex. "We are confident that with Transoft as our currency management solution provider we are standing on solid ground."

"Banamex is well respected throughout the world as an innovative leader in the banking industry and we are delighted that they have chosen Transoft as their currency management solution provider," stated Bo H. Holmgreen, president at Transoft. "Being selected by Banamex further demonstrates the strength of our products and firmly reinforces our position as a leader in the growing Latin American market."