Transoft International Inc. has introduced OptiReCache, a module for OptiCash, that enables bank branches to forecast the total amount of cash on hand and what is available in each banknote denomination.
OptiReCache is inserted inside OptiCash, a currency-management solution that predicts demand for cash. OptiReCache is used by teller-cash recyclers, or safes, that are located behind the bank-teller window. The recyclers accept and dispense cash deposits after verifying the value of the banknotes.
"OptiReCache forecasts the total cash balance and what denominations are in the automated teller cash recyclers," said Brendan Burge, sales manager for Transoft, which is based in Cary, N.C.
Burge explained that a bank branch may have more $100 or $1 banknotes than it needs. At the same, the branch may not have enough $5, $10 or $20 banknotes, Burge said.
"A bank branch may replace $300,000 in $100 banknotes with $300,000 in $5, $10 and $20 banknotes," he added.
More countries, including Spain and the Netherlands have moved or are moving to teller cash recycling, Burge said.
Transoft unveiled OptiReCache at the International Commercial Cash Operations Seminar at the Europe Middle East Africa conference last month in Barcelona, Spain. The seminar provides educational presentations that address issues affecting every stakeholder in the cash cycle. The stakeholders include commercial banks, retailers, casinos, armored carriers and central banks.
Transoft provides service-based currency supply chain management software solutions for the banking industry.
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Transoft introduces a module for teller cash recyclers
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