VTB Bank is one of the leading banks in the Georgian financial market. With almost 15 years in business, it established itself as a modern financial institution, introducing innovations and improving the quality of services.
Since the beginning of 2019, technical support for all bank self-service devices has been entrusted to BS/2 Georgia. Cash flow is monitored by the Cash Management.iQ software solution developed by Penkių kontinentų bankinės technologijos (BS/2) banking technology company of Penki Kontinentai Group.
Cash Management.iQ enables real-time monitoring of cash of each individual cash point as well as of the whole network. Based on statistical data, the .iQ family product makes cash demand forecasts of various self-service devices (ATMs, kiosks, etc.) and plans the operation of storage facilities.
“VTB Bank (Georgia)” was interested in our product. During the pilot project, it was decided to use not all its capabilities, but only cash balances monitoring and forecasting. Of course, we offered flexible conditions both in terms of the functionality and payment,” says BS/2 Georgia Executive Director Andrej Smirnov.
According to him, Cash Management.iQ provides cash flow automation and maintains the optimal amount of cash, reducing the administration cost. Among the additional functions of the solution is the determination of CIT team route and the amount to load for each of them, allowing to plan the optimal routes for the CIT services, as well as to reduce logistics costs. Cash Management.iQ can be used not only by financial institutions and collectors, but also by retailers to ensure the timely export and delivery of cash to their stores.
Today Cash Management.iQ provides cash monitoring of almost 100 ATMs of VTB Bank. BS/2 Georgia provides technical support for the bank’s equipment. Overall, the company provides technical support for more than 1,000 devices throughout the country.
“The actively developing Georgian payment market is in the area of interests for BS/2. In May, Tbilisi will host the Europe Cash Cycle Seminar, where a representative of our company will deliver a report. At the exhibition booth we will showcase our innovative solutions,” says Andrej Smirnov.