Fiserv, Inc., a leading global provider of financial services technology solutions, along with its local implementation partner, Mellon Ukraine, announced today that UniCredit Bank, based in the Ukraine and a member of UniCredit Group with financial networks covering 22 countries in Europe and 27 additional countries worldwide, has selected Integrated Currency Manager to optimize the bank's cash reserve levels and maximize transportation capacity.
"We selected Fiserv because it was able to deliver a solution that met our unique requirements," said Valeriy Lapin, Professional, Self-Service Management, UniCredit Bank. "We have already put quite a lot of effort into successfully reducing our total ATM cash-related costs, and once we have fully implemented Integrated Currency Manager, we expect that we will be able to achieve even better results in cost optimization, while at the same time ensuring maximum cash availability for the customers. We also expect the advanced management information will help further improve performance and reduce costs."
Integrated Currency Manager from Fiserv is a web-based cash supply chain management and optimization tool that automates precise cash forecasts for multiple cash points, including ATMs, branches, vendors and vaults. It combines complex forecasting functionality with historical trends to reduce currency outages and expensive emergency deliveries to restock empty ATMs. It also optimizes transportation schedules. Through accurate forecasting, the solution eliminates excess currency inventories, increases the availability of capital for investment and ensures cash points are stocked.
"In a country with high interest rates, idle cash, outages or overages can be very costly," said David McLaren, business development director, EMEA, Cash & Logistics, Fiserv. "Fiserv consultants understood the existing processes that were important to UniCredit along with local operational requirements, and created a solution that allowed these to be managed more effectively and efficiently. Integral to the success of this engagement was the flexibility of Integrated Currency Manager and working with UniCredit to create a solution that truly fit the bank's needs."
"The implementation of Integrated Currency Manager for PJSC 'Ukrsotsbank', a member of the well-established international UniCredit Group, marks another milestone of our partnership with Fiserv and our commitment to help our customers achieve greater operational efficiencies, profitability and cost savings," said Panagiotis Vlachos, General Manager, Mellon Ukraine.
This engagement expands on the expertise that Fiserv has in the region. Last year, Fiserv announced that it was working with First Ukrainian International Bank (FUIB) to help address and manage cash reserve requirements across its network.