News

Fifth Third uses Transoft's OptiCash for ATM cash management

July 9, 2007

CARY, N.C. - Transoft International Inc., provider of currency supply-chain management solutions, has launched its OptiCash version 6 at Cincinnati-based Fifth Third Bank to enhance the bank's cash-management capabilities at off-site ATM locations.

According to a news release, Fifth Third Bank has been a Transoft customer for more than seven years.

With OptiCash, Fifth Third Bank manages currency levels on more than 800 ATMs and has reportedly reduced cash holdings and associated costs.

OptiCash, a comprehensive currency-management software solution, automates cash forecasting, cost balancing, ordering, monitoring, expense tracking and more. OptiCash applies mathematical algorithms to historical, event and cost data to determine optimum cash needed for each cash delivery.

"OptiCash allows us to leverage efficiencies and effectively manage cash as we continue to grow our ATM network," said Paul Moore, vice president and director of alternative delivery for Fifth Third.