RALEIGH-DURHAM, N.C. -- The Huntington National Bank, which has been using Transoft's OptiCa$h software for currency management on its network of off-premises ATMs, has decided to use Transoft's OptiCa$h, and OptiVault Currency Supply Chain application suite.
to manage its currency supply chain for its bank branches, vaults and on-site ATMs.
Huntington was using another company's system in its branches but decided to switch after it realized a nearly $9 million reduction of cash in its ATM network, according to Lori Kerzman-Murray, the bank's senior vice president of Operations and Technology Services.
"After a year of using Transoft's OptiCa$h on our off-site ATMs, we realized that we could accomplish greater savings on our branches and branch ATMs," she said in a news release.
Founded in 1992, Transoft develops software that provides recurring cost savings in the ATM, branch and vault networks of banks by applying operations research and statistical analysis to cash inventory management and balancing of all cost components.
The company has more than 40 customers across six continents and manages cash for more than 40,000 ATMs and 14,500 bank branches.
