DAYTON, Ohio - NCR Corporation (NYSE:NCR) and Transoft International have entered into a new global agreement.
NCR is now able to provide banks worldwide with Transoft's OptiCa$h, OptiNet and OptiVault currency-management applications through a product resale motion or as part of a NCR Managed Services solution.
According to a news release, these applications are currently providing NCR customers such as Akbank in Turkey, Nordea in Scandinavia and RBC Royal Bank in North America with substantial annual savings related to cash-supply management for their ATM networks.
"Cash is by far the largest operational cost component in ATM networks and thus provides the greatest opportunities for savings," said Bo Holmgreen, president and chief executive of Transoft. "NCR's global reach and expertise in delivering financial products and services coupled with Transoft's 12 years' experience and continuous application-improvement strategy results in the most robust combination and ultimately provides customers the most mature and solid solution."
The OptiCa$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. Used in conjunction with OptiCa$h, OptiNet enables users to generate emergency orders when unforeseen demand renders a bank low on cash.
OptiVault is a complementary application that optimizes currency ordering for bank money rooms and/or carrier vaults, taking into account branch, commercial and retail cash as well as cash demand associated with branch and non-branch ATMs.
RBC Royal Bank is taking advantage of the new NCR-Transoft agreement to better manage cash distribution to its approximately 4,500 cash delivery points. James McGuire, senior manager, Self Service Networks for RBC Royal Bank, said, "The use of Transoft's OptiCa$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."
