News

ABANA, Transoft to partner for Middle East currency management

May 28, 2008

CARY, N.C. — Transoft International has announced in a news release that it will partner with ABANA to market currency management solutions in Saudi Arabia and other member countries of the Gulf Cooperation Council (GCC).

Based in Saudi Arabia, ABANA has more than 30 years of experience in catering to the needs of the financial and telecommunication sectors. ABANA offers an array of value-added products and solutions across the GCC countries including banking automation equipments (money counting and sorting machines, exchange rate board, bundling machines, etc.), ATMs' and self-service terminals, queuing systems, test equipment ADSL, outside plant materials, data archiving solutions, security software, EFT wireless solutions, site monitoring solutions, customized software applications and many other solutions.

Transoft's currency management products will be used to automate and optimize the management of cash in the supply chain for financial institutions in the Middle East. Through the use of the Transoft solutions, ATM, branch and central vault cash levels are cost optimized to improve process efficiency and meet consumer demand at the lowest possible cost. Transoft's management of complex dynamics such as seasonal fluctuations, events and trends ensure maximum network availability, according to the release.

"ABANA is dominant in the provision of innovative solutions for financial institutions. We are delighted to partner with ABANA to add to its already impressive product and solution set by providing best-in-class currency management solutions to its clients," said Bo H. Holmgreen, president of Transoft.