News

Bank of Ireland, Largest Bank in Irish Republic, Chooses Transoft International to Provide Currency Supply Chain Management

July 6, 2003

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Cary, North Carolina, July 2003--Transoft International Inc., the recognised leader in the provision of currency management solutions worldwide, announced today that Bank of Ireland, the largest financial institution in the Irish Republic, selected Transoft's end-to-end currency-management solution. 

Bank of Ireland chose Transoft International following an extensive competitive evaluation of leading systems. The award was made to Transoft based on the ability to deliver the required benefits, the maturity and robust nature of the product family, user-friendliness, ease of use and their expertise in currency management.

BOI spokesman Jim Molloy said, 'We were very impressed by the feedback we received from existing Transoft users, and we look forward to a successful partnership with Transoft in enabling us to deliver ongoing benefits across all of Bank of Ireland's Cash operations'.

Using OptiCash, OptiNet and OptiVault, Bank of Ireland will be able to streamline business processes within the cash environment and optimise the level of cash held across the supply chain. Throughout the year, all ATMs, branches and vaults will be operational on Transoft's applications resulting in immediate significant savings.

"Due to the recent market changes following the introduction of the Euro, we are currently seeing much success and expansion in Europe", adds Bo H. Holmgreen, President & CEO of Transoft International in the United States, himself a European. "Being awarded this opportunity is further evidence of our leadership position in the European banking industry, as the preferred provider of currency management solutions to large financial institutions." 

Michael Printer, Director of Transoft Europe said, "We consider the decision on behalf of Bank of Ireland to be particularly strategic given the strong nature of the competition within the evaluation process and the Bank's adherence to rigorous quality standards. We're delighted to have the opportunity to work with Bank of Ireland".

Transoft is solely focused on Currency Management, offered directly to customers as in-house systems or as outsourced services operated by both global and regional partners. 

About Transoft

Transoft develops solutions that provide cost optimization and improved currency management procedures. Withcustomers spanning 6 continents, Transoft solutions manage cash for nearly 100,000 ATMs and branches.

Transoft is on the "Fast 50 list" of North Carolina's fastest growing IT companies and can be found at www.transoftinc.com.

Contact:

Transoft International, Inc.

Joanna McGee

Phone: 919.678.9192

Joanna.Mcgee@Transoftinc.com