News

Bank in Ecuador selects Transoft's OptiCash, OptiNet for ATM, branch

July 19, 2007

CARY, N.C. - Transoft International Inc., provider of currency supply-chain-management solutions, has signed a deal with Ecuador's Produbanco bank for the installation of Transoft's OptiCash and OptiNet currency-management software for the bank's ATMs and branches.

"Produbanco is recognized as a leader in providing advanced financial services in the markets they serve, and we are proud that they have chosen Transoft for their ATM and branch currency management solution," said Bo H. Holmgreen, president of Transoft.

Produbanco, head of the Grupo Financiero Produccion, was founded in 1978 and provides consumer, corporate and private-banking services through its network of more than 140 ATMs, 65 branches and 65 service-payments centers in Ecuador.

According to a news release, OptiCash will be used to automate cash forecasting, cost balancing, ordering, monitoring, expense tracking and more for Produbanco and GFP. By using historical demand data and statistical algorithms, OptiCash works to optimizse ATM and branch cash levels.

OptiNet, a branch-ordering and recommendations override system, will provide support information for branch and currency managers, helping them make cash-order decisions.

"We need to manage our cashpoints more efficiently, and OptiCash and OptiNet are the tools we have chosen to achieve this goal," said Guillermo Moreano, vice president of operations and technology at Produbanco.