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Fiserv, Halyk Bank partner to streamline cash management

February 21, 2019

Fiserv Inc., a provider of financial services technology solutions, is working with Kazakhstan’s Halyk Bank, a privately owned FI, to centralize its cash management process, a company press release said.

The bank has implemented Fiserv cash and logistics solutions that include Integrated Currency Manager for web-based cash supply chain management and Device Manager for automated self-service device management.

"Our customers conduct the majority of their daily financial transactions in cash, and it is important that we are able to meet their needs to both withdraw and deposit funds at our branches and at other locations, such as ATMs," Halyk Bank Deputy CEO Zhannat Satubaldina said in the release. "We selected Fiserv based on the company’s global reputation and local experience in delivering proven and reliable cash and logistics capabilities. We consider the implementation of this new technology to be a milestone in serving our growing customer base."

Centralizing cash management operations will provide Halyk Bank with a more holistic picture of cash needs by location, allowing bank staff to optimize cash levels at branches and devices based on demand.

The technology will also help the bank reduce risk and increase network availability while lowering the bank’s cost per transaction and cost per self-service unit, the release said.