CetoLogic, a leading provider of software and analytics for financial institutions and retailers, announced at the 2015 BAI Retail Delivery Conference that $424 million Matanuska Valley Federal Credit Union based in Palmer, Alaska, and $968 million KeyPoint Credit Union based in Santa Clara, Calif. have selected its C3 Financial cash management and forecasting solution to streamline cash management processes and better align cash levels with member demand.
Prior to implementing C3 Financial, Matanuska Valley Federal Credit Union (MVFCU) conducted cash orders for all 11 branches through one central branch, and then coordinated cash deliveries from three separate money suppliers to the other branches.
“The inter-branch cash transfers became incredibly costly and time consuming, especially for our central branch that was responsible for servicing cash orders for our entire branch network,” said Penny Cook, Community Office Manager for MVFCU. “Now our branches simply submit their own cash orders directly through C3 Financial, which are then reviewed and approved by accounting and delivered directly to the branches. We have realized significant time and costs savings by streamlining our cash management efforts using one, central platform.”
In addition to streamlining cash management operations, C3 Financial uses historical data to provide accurate branch and ATM cash order and deposit recommendations to ensure each location has the correct amount of cash on hand to cover its unique member needs.
“As the branch landscape transforms, CetoLogic strives to empower branches to increase productivity and allow operations to have insight into branches and devices like never before,” said Douglas Ceto, President and CEO of CetoLogic. “Many of our solutions are designed to assist institutions in freeing up their resources, which allows them to focus on their membership. Additionally, we assist them in tapping into funds that typically and literally are locked away in the branches and devices; allowing them to invest back into their communities.”